Outstanding Development Award: Development Corporation of Tarrant County, Sansom Ridge Apartments
Sansom Park is a small landlocked city between down- town Fort Worth and Lake Worth along Highway 199 or Jacksboro Highway. It has a population of about 5,900 and the median gross income is about $36,000 annually. The average median price for a single-family home was $75,000. The Sansom Ridge Apartments along with another senior project called Sansom Pointe were the first set of multifam- ily dwellings built in the city of Sansom Park. Sansom Park had a desperate need for affordable multifamily units. The City of Sansom Park Mayor, Jim Barnett, Jr., had a vision for how he wanted his city to thrive and grow on the economic development front as well as community needs such as affordable housing.
The development could not have been completed without
the efforts of several organizations and the Mayor and City Council of Sansom Park and several city staffers. LDG was the initial developer of the project and The Development Corporation of Tarrant County, a local non-profit CHDO, became the General Part- ner on the development.
The partnership closed on the “transaction” in November of 2016 and construction began in December of 2016. All 100 units have been designated as affordable. And must be rented to residents who are at or below 60% AMI for the area. In addition, through the HOME investment of $800,000, there are 5 HOME units designated in the development as well. As a stipulation of The Develop- ment Corporation of Tarrant County’s involvement in this development, DCTC required that the developer list DCTC in the LURA in order to keep the units affordable for their life.
The Samson Ridge development was such a success, that in 2018, TDHCA approved the construction of an additional 296 units located right next door in order to provide more affordable housing in Sansom Park.
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TALHFA
Fall 2019
Talk
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