UPDATE: Fort Worth Housing Solutions has just announced a significant move to enhance affordable housing in the city. The agency’s board has approved the purchase of the Ramble & Rose apartment complex located at 501 W. Rosedale St. for up to $69 million through bond issuance. This decision was made during a board meeting on November 20, 2023, indicating an urgent push to bolster the city’s housing portfolio.
WHY IT MATTERS: This acquisition is pivotal as it enables Fort Worth Housing Solutions to take complete ownership of the property, allowing for better control over operations and funding for essential resident services. Agency spokesperson Camille Rasor emphasized the strategic importance of this purchase, stating, “By acquiring this property, we will have complete control and cash flow to fund agency operations and additional resident services.” This step is crucial in addressing the ongoing affordable housing crisis affecting many residents.
The board unanimously approved the staff recommendation, with Richard Stinson moving for approval and Brittany Hall seconding the motion. Additionally, the board authorized the issuance of residential development revenue bonds, series 2025, to facilitate the transaction. The anticipated selling price is $64 million, with the $69 million figure accounting for potential contingencies due to fluctuations in the bond market before the sale is finalized.
This decisive action comes at a time when affordable housing is more important than ever. Residents and advocates are closely monitoring developments, as this acquisition marks a significant commitment by the city to ensure housing accessibility.
Looking ahead, Fort Worth Housing Solutions plans to leverage this acquisition to expand its services and support for residents in need. The agency’s strategic plan aims to bolster its affordable housing portfolio across the city, a move that will resonate with many families struggling to find suitable housing.
As this story develops, community members and stakeholders will be eager to see how this investment impacts the local housing landscape. For further updates and insights into the ongoing efforts by Fort Worth Housing Solutions, follow local news sources and keep an eye on future announcements.
Stay tuned for more breaking news as Fort Worth continues to address housing challenges head-on.
