Mid City Times

A partnership between the Fort Worth Housing Finance Corporation (FWHFC) and Ojala Partners LP has led to the groundbreaking of a new affordable housing development in Fort Worth. The project, called Tobias Place Apartments, aims to provide quality, attainable housing to residents in the area.

The partnership between FWHFC and Ojala Partners highlights the commitment of the City of Fort Worth and Tarrant County to address the need for affordable housing. Through strategic partnerships and innovative financing solutions, FWHFC plays a vital role in making affordable homeownership a reality for individuals and families.

The Tobias Place Apartments development will consist of 288 units, classified as Class A workforce housing. The project aims to serve households with a range of incomes between $20,000 and $60,000, ensuring that the housing is accessible to a diverse group of residents.

The groundbreaking ceremony marked the beginning of the development, which is named after Toby Tobias, a respected community leader and former employee of the City of Fort Worth. Tobias' dedication to coaching and youth sports left a lasting impact on the Fort Worth community, making the property name a fitting tribute to his legacy.

Tarrant County Commissioner Roy C. Brooks, who played an instrumental role in securing county funding for the project, expressed his appreciation for the development, stating, "The fact that this project is being built is, in fact, a miracle."

The location of the Tobias Place Apartments was carefully chosen due to its proximity to the new Victory Forest Community Center and its strategic position in the south Hemphill corridor. The City of Fort Worth's investment in this area reflects its commitment to the ongoing development and improvement of the community.

In addition to providing much-needed affordable housing, the project will also involve Quiet Zone conversions of four Union Pacific railroad crossings in the area to reduce train noise. Furthermore, funds from the American Rescue Plan Act will be allocated to repair stormwater infrastructure and mitigate flooding impacts on local residents and businesses.

Mayor Mattie Parker expressed her enthusiasm for the development, noting that it will offer "the most deeply affordable housing in the city" and will be conveniently located less than a 10-minute drive from downtown Fort Worth, the city's largest employment center.

The Tobias Place Apartments will not only provide affordable housing but also offer residents easy access to public transportation, modern amenities, employment centers, and educational institutions. The property will feature a range of amenities designed to promote community engagement and enhance residents' quality of life, such as a clubhouse with a business center and library, a fitness facility, a large pool with outdoor grilling stations, a playground with outdoor gaming areas, and park space.

Lead developer of the project, Daniel Smith, managing director at Ojala Partners, expressed his gratitude towards the City of Fort Worth staff and Development Services for their support in making the development a reality. Smith stated, "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."

The Tobias Place Apartments development was made possible through multiple sources of financing, including 4% Housing Tax Credits administered by the Texas Department of Housing and Community Affairs, municipal bonds issued by Tarrant County Housing Finance Corporation, and construction and permanent financing provided by Regions Bank and Fannie Mae. The project also received secondary financing from the Rainwater Foundation, City of Fort Worth, Tarrant County, and the developer.

The Tobias Place Apartments development represents a significant step forward in addressing the need for affordable housing in Fort Worth. Through the collaboration of the Fort Worth Housing Finance Corporation and Ojala Partners, this project will provide a valuable housing option for residents in the area. The dedication and support from the City of Fort Worth and Tarrant County demonstrate their commitment to the well-being and economic development of the community.

For additional details, please follow this link: https://www.fortworthtexas.gov/news/2023/12/tobias-place-dec