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Two development projects earn national recognition

Posted Jan. 7, 2016

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The Terrell Heights redevelopment and Pinnacle Bank Place — projects in which the City of Fort Worth partnered with the Fort Worth Local Development Corp. and Fort Worth Housing Finance Corp. — received 2016 Audrey Nelson Community Development Achievement (NCDA) Awards from the National Community Development Association.

The awards will be presented in Washington, D.C., Jan. 22. They recognize exemplary uses of the Community Development Block Grant (CDBG) program, HOME Investment Partnerships grant funds and other funding sources.

Audrey Nelson was the first deputy executive secretary of NCDA, which represents municipalities that administer federally-supported community and economic development and affordable housing programs.

Terrell Heights

Hazel Harvey Peace Center

The Terrell Heights redevelopment project has been evolving over the past 15 years. Fort Worth has invested about $25 million from grants including CDBG, HOME, Economic Development Initiative funding, as well as Section 108 financing and other funding sources to spur growth southeast of downtown.

Improvements include new community facilities such as the Ella Mae Shamblee Library, the Hazel Harvey Peace Center for Neighborhoods (pictured here), reconstruction of Evans Avenue, streetscape improvements, a public plaza, period street lighting and the Terrell Homes I project.

More recently, the city invested $4 million for a new community facility to be known as the United Community Centers Bethlehem Center. The new community center is expected to be completed this spring.

Additionally, $900,000 in HOME funds has been set aside for nine infill homes as part of the Terrell Heights Single Family infill project. These homes will be sold to households earning 80 percent or below of area median income.

The ongoing redevelopment has spurred commercial growth, too. A Jack-in-the-Box and 7-Eleven opened at Rosedale and I-35W and a limited-service hotel is in development.

The Terrell Homes I project, a 54-unit affordable, single-family rental development for moderate-, low- and very low-income residents, received an Audrey Nelson Community Development Achievement Award in 2013.

Pinnacle Bank Place

Pinnacle Bank Place
Image provided by L2L Lancaster LCC.

Pinnacle Bank Place is being developed by Lancaster Corridor Redevelopment LLC in response to the city’s interest in turning empty lots on West Lancaster Avenue into downtown residential development and new retail. This property will include the future headquarters of Pinnacle Bank Texas, along with retail and parking, and is expected to be completed late this year.

The City of Fort Worth contributed $1.4 million in HOME funds toward the improvements that will provide approximately 164,000 square feet of mixed-use development. In addition to approximately 20,000 square feet of retail space, the project includes 130 residential units and 450 garage parking spaces.

The city’s HOME funds provided much-needed workforce housing in downtown. Of the 130 units, 119 will be market rate, with 11 HOME units.

Pinnacle Bank purchased a portion of the ground floor for retail banking and office operations. There also will be a motor bank on the first floor of the parking garage.

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