From Dream to Reality
Multi-Million dollar tax credit award ensures housing project will move forward

 

Samaritan House celebrated selection for the award of millions of dollars in tax credits by the Texas Department of Housing and Community Affairs in late July. The funds, estimated to be valued at approximately $7 million, will be used to construct new special-needs housing for families and couples, and to expand the current Samaritan House facility by eight units.

While total allocation amounts will not be determined until a later date, Samaritan House is slated to receive substantial credits that result in a significant subsidy for the new housing development. Tax credits are awarded by the Texas Department of Housing and Community Affairs (TDHCA), and are then sold to companies in exchange for capital used to build or renovate affordable housing.

The new buildings, to be located on fourteen lots assembled along Hemphill, just north of Rosedale in Fort Worth’s medical district, will include sixty-six new apartments, ranging in size from one to three bedrooms. The new facilities will also offer common areas for use as computer labs, exercise rooms and areas for community activities. In order to expand the capacity of Samaritan House’s current Single Room Occupancy (SRO) facility from fifty-two to sixty units, the current administrative offices will also be relocated into the new buildings.

Ground breaking for the new project is planned for early 2005.

On March 1, 2004, Coach Realty made application on behalf of Samaritan House for tax credits to help subsidize this multi-million dollar project. On July 28th, Samaritan House received notice that their request for credits had been approved by TDHCA. The total amount of the Tax Credit award is more than $8 million, and proceeds from the sale of the tax credits by Alliant Capital will be approximately $7 million, or more than two-thirds of the total projected budget for the project. Fort Worth’s CM Architecture is designing three new buildings.

Unfortunately, there is a wait period often as long as twelve months for space in the current supportive housing programs offered in Fort Worth. Samaritan House’s present facility only allows for the provision of services to single individuals, which can potentially separate a person from their family in their time of greatest need. The planned new housing will expand Samaritan House’s current capacity by more than three-hundred percent.

Samaritan House has already rallied extensive community support for the project, including various neighborhood organizations, political officials and economic development organizations such as Fort Worth South. The design has included input from many interested parties, helping to ensure that the new facility will be consistent with South Fort Worth’s “Urban Village” design plan.

For more information about Samaritan House, its programs, or the new family housing project, please call (817) 332-6410, ext. 160, or email info@samaritanhouse.org.