Ft Worth Times

On Wednesday, Oct. 25, the City of Fort Worth, in partnership with its Housing Finance Corporation and private developer Ojala Holdings, broke ground on a affordable housing development named Tobias Place. In 2020, the City was asked by neighborhood leaders to address gentrification and displacement in the neighborhoods surrounding Hemphill Street.

The development will be at the southeast corner of Hemphill and Biddison streets.

Why it matters: Rising housing costs, elderly residents finding it difficult to find affordable housing, and the looming threat to the neighborhood’s vibrant Hispanic culture were factors.

In response, the Neighborhood Services Department initiated a series of engagements with affordable housing developers to explore the Hemphill Corridor and pinpoint land parcels with the potential to house an affordable housing development that would cater to the unique needs of the local community.

From these collaborative meetings emerged the vision of Tobias Place, a development christened to honor a local hero, Toby “Big Time” Tobias.

• His service at local shelters and his efforts in distributing food and Christmas presents endeared him to the hearts of many.
• This dedication extends to the creation of a mural in his honor, aptly named the “Big Time” mural, in the development’s clubhouse, an endearing tribute by Ojala Holdings.

The journey to bring Tobias Place to life is a testament to a remarkable synergy between the City, private developers and the active engagement of local organizations.

• The development encompasses 288 units designed to offer deeply affordable housing options for a diverse range of residents.
• It ensures accessibility for seniors, individuals with disabilities and young Fort Worth residents returning from college.
• The project extends its impact by addressing critical stormwater infrastructure challenges, bolstering regional drainage systems and reducing flooding risks in the neighborhood.

To fund the $80 million development, an intricate financing structure was devised:

• It involves federal housing tax credits, loans, grants and dynamic partnerships with both City and county entities.
• This collaborative, multi-layered approach underscores the depth of commitment to ensuring the enduring affordability of Tobias Place for at least 30 years.

With the conclusion of successful financing arrangements and an unwavering dedication from all participating stakeholders, Tobias Place stands as an inspiring symbol of hope and unity, showcasing the remarkable outcomes that can be achieved when public and private sectors unite to confront pressing social issues and provide accessible, deeply affordable housing for the residents of Fort Worth.

Original source can be found here.