To bolster the supply of affordable housing in southeast Fort Worth, the City Council has given the green light to an $8 million investment in the third phase of Columbia Renaissance Square. With a vote cast yesterday, the council solidified its commitment to the development, which promises to deliver 100 affordable units to an area needing revitalization, as per the City of Fort Worth.
The approved funds, sourced from federal grants and forgivable loans, will advance the project at 2757 Moresby St., with construction set to commence in February 2025. The units are earmarked for individuals and families earning between 30% and 80% of the area's median income. In a bid to accommodate the most economically vulnerable, ten of these units will be profoundly affordable, reserved for residents earning 30% or less of the AMI.
These financial efforts align with broader initiatives within the city focusing on accessible housing and economic growth in disadvantaged neighborhoods. In throwing its weight behind Columbia Renaissance Square, the City Council stands to revitalize the Renaissance Heights area and address the critical shortfall in quality, affordable homes for the city's lower-income residents at various stages of life.
