A new chapter began in Fort Worth's affordable housing story earlier this year, with the groundbreaking of Tobias Place Apartments, a 288-unit development that promises Class A accommodations to the city's workforce. The project, sourced from a partnership between the Fort Worth Housing Finance Corporation (FWHFC) and Ojala Partners LP, aims to serve residents earning between $20,000 and $60,000, as reported by the City of Fort Worth.
The initiative represents the combined efforts of the City of Fort Worth and Tarrant County towards substantive regional developments, including quality housing, infrastructure improvements, environmental remediation, and economic growth for the Hemphill community. Alongside the housing units, additional upgrades are also planned, such as quieter railroad crossings and an improved stormwater system, ostensibly giving some relief to residents and businesses plagued by flooding.
Named in honor of Toby Tobias, a compelling figure whose legacy in civic service and youth sports in Fort Worth spans decades, Tobias Place Apartments stands as a concrete testament to this hometown hero. "The fact that this project is being built is, in fact, a miracle," Tarrant County Commissioner Roy C. Brooks said, acknowledging the massive effort behind securing county funding for integral storm and utility upgrades, as per the City of Fort Worth.
Fort Worth Mayor Mattie Parker hopes the development will stand as the city's most deeply affordable housing option, conveniently located less than a ten-minute drive from downtown—Fort Worth's employment hub. The appeal is augmented, no less, by pedestrian access to public transportation and a slew of amenities including a clubhouse, fitness center, and outdoor community spaces.
In a climate where affordable housing is more critical than ever, the significance of Tobias Place cannot be overstated. Daniel Smith, the lead developer at Ojala Partners, expressed profound gratitude to the city staff across multiple departments who were key in transforming the vision of Tobias Place into a tangible reality. "To the City of Fort Worth staff and Development Services, I cannot say thanks enough. They have fought arm in arm with us throughout the process of making this development a reality," Smith stated, per the City of Fort Worth.
Funding for the $80 million project came from a diverse bouquet of financial sources including 4% Housing Tax Credits, municipal bonds, and contributions from Regions Bank, Fannie Mae, the Rainwater Foundation, and the American Rescue Plan Act funds, among others. This medley of funding, along with the strategic partnership between FWHFC and Ojala Partners, highlights a collaborative effort poised to make a significant impact on Fort Worth's approach to accessible housing for its workforce.
