Rendering of the upcoming affordable housing community in Fort Worth, emphasizing accessibility and community amenities.
Fort Worth, August 13, 2025
The Fort Worth City Council has approved a resolution that allows Royal Capital, LLC to apply for housing tax credits aimed at enhancing affordable housing developments in Historic Southside and Renaissance Heights. This unanimous decision paves the way for over 180 mixed-income housing units, potentially revolutionizing local housing options amidst an ongoing crisis. The project promises to foster a vibrant community with essential retail spaces and necessary amenities, targeting families earning below the area’s median income. The city allocated significant funding to support these developments and is strategizing to tackle the pressing affordable housing challenges faced by residents.
The Fort Worth City Council voted unanimously to allow a developer to apply for federal housing tax credits that would help build a large affordable housing project in the Historic Southside neighborhood. The decision lets Milwaukee-based Royal Capital, LLC move forward with an application for 2025 Non-Competitive (4%) Housing Tax Credits from the Texas Department of Housing and Community Affairs for the Evans and Rosedale Urban Village development.
The council’s resolution is a required step for Royal Capital to seek tax credit investors, who can use the credits to lower their federal income tax. The unanimous vote removes a city roadblock and allows the developer’s application process to continue. Royal Capital was chosen after the city ended its prior relationship with another developer in August. Plans for the six-acre project were shown to the public in December.
The Evans and Rosedale Urban Village will be a mixed-income housing development of more than 180 units, offering one-, two- and three-bedroom homes. Design plans show a walkable neighborhood with green space, social areas for children, and about 15,700 square feet of ground-floor retail or office space. At least 3,000 square feet will be set aside for an urban grocer or fresh food market. The site plan also includes 247 parking spaces in garages and surface lots.
Most homes will be targeted to individuals and families earning at or below 80% of the area median income (AMI), with the overall average rent level intended to serve households at roughly 60% of AMI. These income targets aim to reach residents who need lower-cost housing options in one of the city’s oldest African American neighborhoods.
The city previously set aside $13.2 million in grants for the development back in 2021. About $4.2 million of that comes from the American Rescue Plan Act (ARPA) and must be used by the end of 2024 under federal rules. The tax credit application is a separate financing move to bring more private equity into the project through tax credit investors.
The Historic Southside stretches near Interstate 35W and Riverside Drive and is home to the 76104 ZIP code, where a 2019 study found a life expectancy of about 66.7 years, the lowest recorded in the state. City leaders view the urban village as a catalyst for neighborhood revitalization, timed to align with the planned opening of a national museum honoring Juneteenth in 2027.
The council also unanimously approved rezoning 15 acres along West Drew Street and McCart Avenue to create space for a community land trust and redevelopment. The rezoning allows new urban residential areas that will act as buffers between industrial sites and single-family homes. The land trust model will keep land ownership separate from home ownership so homes cost less overall, helping people buy houses while preserving long-term affordability.
The land trust will partner with the city’s housing authority to deliver 200 homes — about 145 new units and 55 renovated homes. Construction for that work is planned to begin in late spring or early summer 2025, with the first homes expected to be available around September 2025.
In North Texas, a new building called Clifton Riverside Apartments recently opened with rents ranging from about $485 to $1,800. High demand there highlights the strong need for affordable units. That project set aside 79 of 94 units for households earning between 30% and 60% of AMI and used a mix of bank financing, city support, and federal tax credits to secure funding. The city also approved $8 million
Local data show gaps in homeownership and income by race and neighborhood. Fort Worth’s median household income in 2024 was about $77,082, with median incomes of roughly $55,317 for Black families and $68,874 for Hispanic families. City leaders are pursuing multiple tools — tax credits, land trusts, grants and public funding — to help expand affordable rental and ownership options and to stabilize long-standing neighborhoods.
The council approved a resolution allowing Royal Capital to apply for 2025 Non-Competitive (4%) Housing Tax Credits to help finance the Evans and Rosedale Urban Village in the Historic Southside.
Royal Capital, LLC, a developer based in Milwaukee, was selected to develop the Evans and Rosedale Urban Village after the city ended a prior developer relationship.
The urban village will include more than 180 mixed-income units with one-, two-, and three-bedroom options. Housing will target households at or below 80% of area median income, averaging about 60% of AMI.
The city allocated $13.2 million in grants in 2021 for the project. About $4.2 million of that came from ARPA funds that were required to be used by the end of 2024. The tax credit application aims to add private equity through tax credit investors.
The city rezoned 15 acres to allow a community land trust that will build or renovate 200 homes. In this model, the trust keeps ownership of the land while individuals own the homes, keeping purchase costs lower and preserving long-term affordability.
Land trust construction is expected in late spring or early summer 2025, with some homes available by September 2025. Separate Renaissance Heights housing construction is expected to begin in February 2025 and take about 18 months.
| Feature | Details |
|---|---|
| Development name | Evans and Rosedale Urban Village |
| Developer | Royal Capital, LLC |
| Tax credits sought | 2025 Non-Competitive (4%) Housing Tax Credits |
| Site size | About 6 acres |
| Units | More than 180 mixed-income units (1–3 bedrooms) |
| Retail/office | Approximately 15,700 sq ft; minimum 3,000 sq ft for an urban grocer |
| Parking | 247 spaces (garages and surface) |
| Income targets | At or below 80% AMI; average around 60% AMI |
| City grants | $13.2 million allocated in 2021 (including $4.2M ARPA) |
| Land trust | 15-acre rezoning; 200 homes planned (145 new, 55 renovated) |
| Construction timing | Land trust: late spring/summer 2025; Renaissance Heights phase: Feb 2025, ~18 months |
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