Grand Opening of


The Mercantile Square Apartment Homes New multifamily development provides quality affordable housing in North Fort Worth by Debra Guerrero, The NRP Group


The Fort Worth Housing Finance Corporation (FWHFC) and The NRP Group celebrated the


completion of the Mercantile Square Apart- ment Homes introducing 300 new affordable housing units to the area. On a rainy day in May over 50 people gathered indoors to share their thoughts about the need for more quality affordable housing in the City of Fort Worth.


The Mercantile Square Apartment Homes are located at 3600 Tanacross Drive and have immediate access to major interstates. With over 20,000 jobs within a five-mile radius, the development is conveniently situated between downtown Fort Worth and the northern cor-


ridor. The property includes one, two, three and four-bedroom floor plans and residents will enjoy amenities such as a resort style pool, spacious fitness center, laundry facilities and a playground.


“As businesses look to North Fort Worth for growth and development, employees are seeking affordable housing options with access to the growing area,” said Fort Worth City Councilman Cary Moon, District 4. “We as a city need to create partnerships that benefit our residents and provide safe and quality housing.”


Financing for the $48 million development was through tax-exempt private activity bonds and tax credits issued by the Texas De- partment of Housing and Community Affairs, as well as HOME funds provided through the City of Fort Worth.


The development is the 5th partnership between The NRP Group and the FWHFC. Other developments include; Terrell Homes, Race Street Lofts, The Landings at Marine Creek and 2900 Broadmoor (scheduled to open later this year).


“Our partnership with the FWHFC is invaluable,” said Dan Markson, Senior Vice President of The NRP Group. “The City of Fort Worth has a need to provide qual- ity housing options for their residents and we enjoy partnering with them for their vision progressive thinking.” Mercantile Square serves a variety of income mixes including units set aside for permanent supportive housing administered by Fort Worth Housing Solutions.


The quality of this residential community represents the standard and the impact that these partnerships are making on the lives of Fort Worth residents and their families. With each residential community built together, the partnership aims to develop a better, more sustainable and thriving community.


Page 6 TALHFA Summer 2018


Talk


TALHFA | housing news


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