Rendering of the upcoming affordable housing community in Fort Worth, emphasizing accessibility and community amenities.
Fort Worth, August 13, 2025
The Fort Worth City Council has approved a resolution that allows Royal Capital, LLC to apply for housing tax credits aimed at enhancing affordable housing developments in Historic Southside and Renaissance Heights. This unanimous decision paves the way for over 180 mixed-income housing units, potentially revolutionizing local housing options amidst an ongoing crisis. The project promises to foster a vibrant community with essential retail spaces and necessary amenities, targeting families earning below the area’s median income. The city allocated significant funding to support these developments and is strategizing to tackle the pressing affordable housing challenges faced by residents.
The City Council of Fort Worth unanimously approved a resolution that allows a developer to apply for federal housing tax credits to build an affordable housing project in the city’s Historic Southside, and separately advanced major rezoning and funding measures for new affordable homes in Renaissance Heights. The action clears a critical administrative hurdle for the Evans and Rosedale Urban Village and moves forward a community land trust and redevelopment on nearby sites.
The council gave a required Resolution of No Objection to Milwaukee-based Royal Capital, LLC so the company can apply for 2025 Non-Competitive (4%) Housing Tax Credits from the Texas Department of Housing and Community Affairs. These tax credits help projects raise private equity when investors purchase credits to lower their federal income tax liability. The unanimous vote allows Royal Capital’s application to proceed.
The proposed Evans and Rosedale Urban Village sits on about six acres in the Historic Southside. Plans unveiled last December show a mixed-income development with more than 180 residential units including one-, two- and three-bedroom homes. The project includes public and private amenities: a walkable community design, green spaces, social activity areas for children, and approximately 15,700 square feet of ground-floor retail or office space. At least 3,000 square feet will be set aside for an urban grocer or market to offer fresh food. Parking plans call for 247 spaces across garages and surface lots.
Units will target households earning at or below 80% of area median income (AMI), with the overall average income level aimed at around 60% of AMI. The goal is to make new affordable rental options available where needs are acute.
The city previously allocated $13.2 million in grants toward the development in 2021. Of that, roughly $4.2 million was sourced from the American Rescue Plan Act and carries a federal requirement to be used by the end of 2024. Royal Capital was selected for this development after the city ended its relationship with a different developer in August. If the tax credit application is successful, equity raised from investors would help close the financing gap needed to build the urban village.
Fort Worth’s Historic Southside, bordered by Interstate 35W and Riverside Drive, is one of the city’s oldest African American neighborhoods. A 2019 study identified the 76104 ZIP code as having the lowest life expectancy in Texas at 66.7 years, highlighting health and economic disparities community leaders aim to address. A 2023 report also pointed to a large affordable homeownership shortfall in Fort Worth, especially among Black and Hispanic families. City median income in 2024 was $77,082, while median incomes for Black and Hispanic households were lower at $55,317 and $68,874 respectively.
The council also unanimously approved rezoning about 15 acres along West Drew Street and McCart Avenue to permit “urban residential” uses. This change enables a community land trust model that intends to build roughly 200 homes—including 145 new homes and 55 renovated units. The land trust approach keeps land ownership separate from homeownership so buyers pay lower purchase prices while the trust holds the land to preserve long-term affordability. Construction for these units is expected to begin in late spring or early summer 2025, with the first homes anticipated by September 2025.
The city approved $8 million for the next phase of affordable housing in Renaissance Heights aimed at low- and moderate-income families. This phase will complete the housing portion of the broader Renaissance Heights Masterplan, which also includes mixed-use development and community services. Construction is slated to start in February 2025 with an 18-month schedule.
The recently opened Clifton Riverside Apartments demonstrate strong demand for affordable rental housing in the region. That project offers rents ranging approximately from $485 to $1,800, and most units there are reserved for households earning between 30% and 60% of AMI. The development leveraged Low-Income Housing Tax Credits and a mix of public and private financing to secure equity and close gaps.
Royal Capital will proceed with the tax credit application process for the 2025 non-competitive 4% credits. City funding and rezoning decisions are moving ahead in parallel for the community land trust and the Renaissance Heights phase. If approvals and financing align, construction activity across these sites could begin in early 2025 and provide a mix of rental and ownership options in neighborhoods that city leaders say need reinvestment and stability.
The council approved a resolution allowing Royal Capital to apply for 2025 Non-Competitive (4%) Housing Tax Credits and also approved rezoning 15 acres for a community land trust and redevelopment that will support new affordable homes.
It is a proposed six-acre mixed-income development in the Historic Southside with over 180 units, retail space, green areas, social amenities for children, an urban grocer, and parking for residents.
The housing will target households at or below 80% of area median income, with an overall average target near 60% of area median income.
Funding plans include city grants allocated in 2021, American Rescue Plan Act funds, and potential equity raised from investors who purchase Low-Income Housing Tax Credits. Additional financing will come from private and public sources needed to complete construction.
A land trust retains ownership of land while homebuyers own the house, which helps keep purchase prices and long-term costs lower and preserves affordability for future buyers.
Construction for the community land trust homes is expected to begin in late spring or early summer 2025, with the first homes available by September 2025. Renaissance Heights housing is expected to begin in February 2025 with an 18-month build schedule.
| Feature | Details |
|---|---|
| Developer | Royal Capital, LLC (selected after prior developer relationship ended) |
| Tax credit type | 2025 Non-Competitive (4%) Housing Tax Credits |
| Project site | Evans and Rosedale Urban Village, Historic Southside (approx. 6 acres) |
| Units | Over 180 mixed-income units (1-, 2-, 3-bedrooms) |
| Retail space | About 15,700 sq ft with minimum 3,000 sq ft for an urban grocer |
| Parking | Approximately 247 spaces (garages and surface) |
| Income targets | At or below 80% AMI; overall average ~60% AMI |
| City funding | $13.2 million in grants (2021), including $4.2 million ARPA funds |
| Land trust plan | Rezoning of 15 acres to build ~200 homes (145 new, 55 renovated) |
| Construction timelines | Community land trust: late spring/summer 2025 start; Renaissance Heights: Feb 2025 start, 18 months |
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