Fort Worth plan to more affordable housing units

Fort Worth - In an unprecedented move, the City of Fort Worth is taking steps to foster affordable home ownership through a partnership with a community land trust, Dallas Metro News reported.

On Tuesday, the Fort Worth City Council approved a loan to the Fort Worth Housing Finance Corporation and gave the green light for the $11 million acquisition of a 15-acre parcel of land from the Southwestern Baptist Theological Seminary. The goal is for a community land trust to oversee the land, thereby ensuring sustainable and affordable housing options for working families.

“To be a thriving city, we must create paths to affordable homeownership that will help us maintain the skilled workforce Fort Worth needs,” said Fort Worth Mayor Mattie Parker. “Smart housing strategies leverage opportunities when they come, work with the community to meet their needs, and provide holistic, long-term solutions that will benefit the city far into the future. I am proud that we are pursuing an innovative approach for doing just that.”

“As the fastest-growing large city in the country, we must ensure we address the housing needs of our community. This effort will have a significant, lasting impact on the lives of the families by providing an affordable path to homeownership.” said District 9 Fort Worth City Councilmember Elizabeth Beck. “I am proud that our first community land trust partnership will be located in the heart of District 9, and I look forward to working with the community and our City Council to continue to implement strategies across our city to bolster affordable housing opportunities.”

Community land trusts offer a sustainable solution for low- to moderate-income households to own homes by decoupling the cost of property improvements from the cost of the land itself. The city intends to transfer the newly-acquired property to a yet-to-be-named local nonprofit, responsible for establishing the community land trust.

In the upcoming weeks, the Fort Worth City Council is set to vote on a new Neighborhood Conservation Plan & Housing Affordability Strategy. This pivotal document aims to act as a guide for neighborhood investment and securing stable housing, essential for the well-being of Fort Worth families. The community land trust initiative, recently greenlighted by the Council, is a cornerstone of this strategy. Given the alarming statistic that 80% of homes in Fort Worth are unaffordable for families with median incomes, the plan's importance is amplified.

“The creation of a community land trust is one of the major recommendations from our Neighborhood Conservation Plan & Housing Affordability Strategy, and it will allow the city and a partner to provide long-term affordability for working class families,” said Neighborhood Services Department Director Victor Turner.

Central to the community land trust model is the principle of community engagement. As the city moves forward with its plan to collaborate with a community land trust, it will actively seek input from residents in neighboring areas to ensure the new development aligns with community needs and expectations.

Earlier this year, the Fort Worth Housing Finance Corporation had initially proposed a non-binding offer to acquire the same 15-acre plot of land. The original plan aimed to collaborate with multiple nonprofit organizations to develop housing for vulnerable populations, including homeless families. When financing for this initial collaborative venture didn't materialize, Mayor Mattie Parker and City leadership pivoted, securing the necessary funds to refocus the project towards meeting the city's affordable housing objectives.

Despite the new direction, the pressing issue of housing for families transitioning out of homelessness continues to be a priority for the city. As Fort Worth advances its community land trust initiative, it will also invest in other affordable housing projects aimed at this demographic.

Among the upcoming projects are Tobias Place and Casa de los Suenos. Tobias Place, a new construction by Ojala Holdings, will feature 53 units specifically earmarked for families exiting homelessness. Similarly, Casa de los Suenos, a motel conversion project led by Fort Worth Housing Solutions, will offer 55 units reserved for this vulnerable group.

Credit: Dallas Metro News, City of Fort Worth