Catalyst Project
The following pages outline the process and analysis undertaken for the Neighborhood Center concept, including the Development Partner recommendations of size and scope and the creation of a financial model for the redevelopment.
Project Phasing
The Woodhaven Redevelopment Plan addresses several important issues outlined by the community. Critical to the success of the Plan is to initiate a "catalyst" project that would cause immediate impact and change. Due to limited resources and a need to provide the greatest impact to the area, a focus was given to the source of many of the issues of the neighborhood. Concentrating initial development efforts in this area will have the greatest impact on the potential of a successful redevelopment. TLC Advisor's explored the private development of the highest impact area (Neighborhood Center) and provided preferred scope and size. Additionally, TLC Advisor's established a development financial model that would determine costs and identify potential public-private funding opportunities.
Project Specifications
- 125 single family lots at $150,000 - $275,000
11 - 70' x 130' Lots (9,000 sf min.)
53 - 45' x 120' Lots (5,000 sf min.)
60 - 30' x 110' Lots (3,300 sf min.) - 320 Townhomes (2 story) at $135,000 - $175,000
- 34,000 sf Office/Retail (ground level)
- 10,000 sf Daycare
Development Guidelines
Affordable housing should be an important component of the proposed development. A percentage of all units built should be required to be affordable, either 60% or 80% of median income for the Fort Worth area. This would maintain consistency with federal guidelines when utilizing federal funds. The goal is to encourage a balanced mixed-income community.
An example of a townhome development
An example of single-family homes.