Welcome to Ultraground. We look for changes from commercial to multifamily.
April 10, 2024
District: 10 | Far North
20-Acre Mixed-use | 311 E Bonds Ranch Rd | Approved
District: 5 | Southeast
88-Unit LIHTC/TDHCA Multifamily | 5008 Collett Little Rd | Postponed
District: 2 | Northside
16-Unit Mixed-use | 1344 Main St | Approved
Citywide | All MU Districts
Parking Structure Opening Size Increase | Approved
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DISTRICT: 10
Copper Ranch 311 E Bonds Ranch Rd
Far North | 20.1 Acres | Approved
Rezoning from commercial to multifamily reduces traffic. This reasoning helped Direct Retail Partners get Zoning Commission approval for their proposed 20-acre Commercial to PDD rezone for a mixed-use product called Copper Ranch. Estimated daily trips are expected to decrease from 13,000 to 5,800, a more than 50% reduction. And this team used that to their advantage.
Zoning Commissioners were also impressed by the applicant's extensive community outreach efforts, which included engaging with various stakeholders such as the North Fort Worth Alliance, Hawthorne Meadows HOA, Harmon Ranch, Dorado Ranch, and Berkshire. Chair Willie Rankin commended the developer for their community outreach.
‟We typically do see an understanding of wanting to protect general commercial spaces from multifamily. So that's why it's important to get the community buy-in before something like this happens.
A notable aspect of the project is the inclusion of an early childhood learning center in partnership with Northwest ISD, which will accommodate approximately 400 students aged 3-5. The development also aims to provide commercial-ready units, modify parking and access standards for better retail functionality, and allow multifamily buildings to face the interior to create walkability and connectivity.
One of the significant community benefits highlighted by the applicant is the projected reduction in traffic from general commercial to multifamily use.
Developer: Direct Retail Partners, David Watson Phone: (214) 891-3225 Email: [email protected], Chris Hipps Phone: (214) 979-3346 Email: [email protected]
Staff Report: ZC-24-011
Project Plans: ZC-24-011 Plan
DISTRICT: 5
Lofts at Redwood 5008 Collett Little Rd
Southeast | 2.44 Acres | 88 Units | Postponed by Developer
This 88-unit product was postponed at the last ZC meeting to allow the developer to provide more details or explore other multifamily zoning options. Now, it’s postponed again by the developer.
The deal applied for 9% tax credits in 2023 but the application was terminated. Here are some financial details of note:
Low-Income Housing Tax Credit (LIHTC) Equity: The project has received a significant equity investment of $18,698,130 from Regions Bank through the sale of LIHTC credits.
Construction and Permanent Lending: Legacy Bank & Trust is providing both the construction loan ($17,500,000) and the permanent loan ($3,473,000).
Figure | Lofts at Redwood 2023 TDHCA 9% |
|---|---|
Development Costs | $22,285,633 |
Project Budget | $2,000,000 |
Land Acquisition | $2,745,364 |
Soft Costs | $2,532,000 |
Developer Fee | $114,003 |
Deferred Developer Fee | $11,922,626 |
Hard Construction Costs | $2,771,275 |
Financing Fees | $314,368 |
Reserves | $18,698,130 |
Developer (Zoning): Jervon Harris, Phone: (713) 503-4477 Email: [email protected]
Developer (TDHCA): Brompton Community Housing Corporation (TDHCA): Ellie Fanning Phone: (713) 205-4024 Email: [email protected]
Owner: Jeremiah Nix (Owner) Phone: (817) 733-9027 Email: [email protected]
Capital Partners (TDHCA): Regions (Equity Investor): Rachel Thomas-Phillips, Phone: 512-466-6742 Email: [email protected], Legacy Bank & Trust (construction and permanent lender) Eric Leonard phone: (417) 753-4343
Staff Report: ZC-24-008
2023 TDHCA 9% App: Lofts at Redwood App
DISTRICT: 2
The Mulholland on Main 1332, 1344 Main St; 1313, 1315 Commerce St
Northside | 1.07 Acres | 16 Units | Approved
Theron Bryant and Jeff Givens of Transwesten, a national developer with a 1,874-asset portfolio, propose a 1-acre/16-unit rezone of historic properties. The plan includes renovating the circa-1912 Holland buildings into a mixed-use product with 16 1-bedrooms plus restaurants, offices, retail, and business spaces within the Historic Marine neighborhood.
Bryant and Givens are seeking State and Federal Historic Tax Credits, which would limit the buildings' height to 3 stories, despite the proposed MU-2 zoning allowing for 5-10 stories. The developer emphasized their commitment to preserving the site's historical significance while creating a unique, modern mixed-use space.
The zoning commission narrowly approved the case with a 9-0 vote, but it faced the possibility of postponement due to Commissioner Tiesa Leggett's concerns about the lack of clarity regarding parking solutions.
The applicant's ability to address this issue during the meeting likely contributed to the commission's decision to move forward with the approval.
‟I'm concerned they're not at a resolution with regard to the parking. I just need some more clarity on what the resolution would be.
Opposition from the community, represented by Gladys Guevara and Richard Perez, centered around the potential impact on residential properties, displacement of residents, and the loss of B (2-Family Residential) zoning secured in the 1990s. They requested a 30-day continuance to facilitate dialogue between the developer and the community.
Bryant, while open to community outreach, expressed hesitation about delaying the project due to time and financial constraints. The zoning commission narrowly approved the case with a 9-0 vote, barely avoiding the postponement.
The case now proceeds to City Council for a final decision on May 14, 2024.
Developer: Transwestern, Theron Bryant Phone: (817) 808-4088 Email: [email protected], Jeff Givens Phone: (817) 259-3536 Email: [email protected]
Staff Report: ZC-24-012
Project Plans: ZC-24-012 Plan
DISTRICTS: FORM-BASED, MU-1, MU-2
Parking Structure Opening Size Increase
All Mixed-use Districts | Form-Based | MU-1 | MU-2 | Approved
ZC-24-028 is a city-initiated zoning text amendment to revise the development standards for Form-Based Districts, MU-1 Low-Intensity Mixed-Use, and MU-2 High-Intensity Mixed-Use districts. Specifically, it would increase the allowable size of parking structure vehicle access openings facing public and private streets from 20’ to 25’.
The proposed zoning text amendment in case ZC-24-028 would impact multifamily development in MU-1 and MU-2 mixed-use districts in a few key ways:
Parking structure design - By increasing the allowable size of parking garage entrances facing streets, it provides more flexibility for designing parking to serve multifamily and mixed-use buildings. The current entrance size limits have been difficult to reconcile with city lane width requirements.
Ground floor design - The amendment specifies that parking structure openings cannot exceed 50% of the ground floor facade. City wants to ensure active uses rather than just parking structures that take up most of the ground level.
Permitting process - Aligning the MU parking entrance standards with Public Works and Fire code requirements will likely streamline permitting for mixed-use and multifamily projects, avoiding the current conflicts that have arisen in other recent projects.
Staff Report: ZC-24-028 Parking Opening Size Increase
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