RESIDENCES AT FAIRMOUNT DEVELOPMENT PRESENTATION Residences at - - PDF document

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Apr 17, 2023 31 likes •127 views

RESIDENCES AT FAIRMOUNT DEVELOPMENT PRESENTATION Residences at Fairmount is a proposed mixed-income amenity-rich luxury apartment community with approximately 73 upscale one, two, and three-bedroom units with approximately 8% of the units being

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RESIDENCES AT FAIRMOUNT DEVELOPMENT PRESENTATION

Residences at Fairmount is a proposed mixed-income amenity-rich luxury apartment community with approximately 73 upscale one, two, and three-bedroom units with approximately 8% of the units being unrestricted market rate units. The development will also include 7 permanent supportive housing Units, while the remainder will be restricted income units (Housing Tax Credits). The site includes about 1.80 acres located at approx. 2260 Hemphill Street, Ft Worth, TX. Unit Mix:

Approx. 19 one bedroom - 1 bath units @~700 square feet, rents from $719 to $1050
Approx. 42 two bedroom - 2 bath units @~900 square feet, rents from $787 to $1350
Approx. 12 three bedroom - 2 bath units @~1100 square feet, rents from $908 to $1700

INCOME LIMITS 2018 Area Median Income:

$75,200 AMFI % Number of Household Members 1 2 3 4 5 6 30 $ 15,810 $ 18,060 $ 20,310 $ 15,750 $ 24,390 $ 26,190 40 $ 21,080 $ 24,080 $ 27,080 $ 30,080 $ 32,520 $ 34,920 50 $ 26,350 $ 30,100 $ 33,850 $ 37,600 $ 40,650 $ 43,650 60 $ 31,620 $ 36,120 $ 40,620 $ 45,120 $ 48,780 $ 52,380

Site Features:  On-site management & maintenance  Fully-equipped fitness center  Community room with full kitchen  Flex-room and library  Fenced with controlled gated access  Adequate parking

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Unit Features:  Energy saving features including:

14 SEER AC with programmable

thermostat

Energy Star rated lights and appliances
Energy Star rated windows with

screens

Energy Star Ceiling Fans in living &

bedrooms

Passive solar features

 9-foot ceilings  Designer kitchen with pantry  Full-size washer/dryer connections  Walk-in closets  Water-conserving fixtures  Covered patios/balconies On-site Services:  Crime watch  Annual health fair  Nutritional courses  Furnished and staffed Children’s Activity Center with after-school hours and during school vacations (BreakOut™)  Exercise classes  Monthly trips to community events  Book clubs  Income tax preparation  Pot-lucks & game nights  Movie nights & birthday parties  Arts, Crafts & other rec activities

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Economics:  Overall project cost – Approx. $17,600,000  Sources of Funds

Debt from conventional

lender

Equity from sale of housing

tax credits  Creation of ~100 jobs during construction  Creation of ~4 permanent jobs after construction  Permitting and fees to the City of Fort Worth  Property taxes paid annually to City of Fort Worth and Fort Worth ISD Financing Sources: NuRock will use a combination of financing sources such as conventional debt, local HOME funds, and equity from the sale of housing tax credits. This purposed development will be a mixed income community that will accommodate and be marketed to residents of all income levels. NuRock’s HTC-assisted/market rate communities are designed to be real assets to their communities, incorporating high quality interior and exterior design, attractive landscaping, and amenities. NuRock’s HTC-assisted/market rate developments are an excellent source of workforce housing for the communities they are located in and are home to individuals and households who pay their rent and meet tenant screening criteria (including background checks); live on fixed incomes, such as retirees, injured veterans, and persons receiving assistance for disabilities; people who work hard to fill important jobs in our communities like teaching assistants, EMS and health care workers, and the many other types of workers that keep our vibrant economy strong and growing.

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Site Location:

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H E M P H I L L S T R E E T W . P O W E L L A V E . W . J E S S A M I N E S T . 111 SPACES

10'-0"

C1

THREE BEDROOM UNIT

B1

TWO BEDROOM UNIT

A1

ONE BEDROOM UNIT

B1

TWO BEDROOM UNIT

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TWO BEDROOM UNIT

C1

THREE BEDROOM UNIT

C1

THREE BEDROOM UNIT

B1

TWO BEDROOM UNIT

B1

TWO BEDROOM UNIT

B1

TWO BEDROOM UNIT

A1

ONE BEDROOM UNIT

1ST FLOOR PLAN A3

ONE BEDROOM UNIT

A3

ONE BEDROOM UNIT STREET PARKING - 9 SPACES RESERVED FOR SCHOOL DROP OFF / PICKUP

LEASING / CLUHOUSE

5,593 SF

10'-0"

Date

Metzger Architecture, LLC

(972) 607-4002 LEAWOOD, KS 66211 11709 ROE AVE. STE: D #181

2-3-19

F1

CONCEPT PLAN FOR NUROCK COMPANIES

MULTI-FAMILY DEVELOPMENT 2260 HEMPHILL STREET FORT WORTH, TX

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H E M P H I L L S T R E E T W . P O W E L L A V E . W . J E S S A M I N E S T . B1

TWO BEDROOM UNIT

B1

TWO BEDROOM UNIT

C1

THREE BEDROOM UNIT

B1

TWO BEDROOM UNIT

B1

TWO BEDROOM UNIT

C1

THREE BEDROOM UNIT

C1

THREE BEDROOM UNIT

B1

TWO BEDROOM UNIT

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TWO BEDROOM UNIT

B1

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B1

TWO BEDROOM UNIT

A1

ONE BEDROOM UNIT

A3

ONE BEDROOM UNIT

A3

ONE BEDROOM UNIT

B1

TWO BEDROOM UNIT

A3

ONE BEDROOM UNIT

A3

ONE BEDROOM UNIT

B1

TWO BEDROOM UNIT

2ND, 3RD & 4TH FLOOR PLAN

Date

Metzger Architecture, LLC

(972) 607-4002 LEAWOOD, KS 66211 11709 ROE AVE. STE: D #181

2-3-19

F2

CONCEPT PLAN FOR NUROCK COMPANIES

MULTI-FAMILY DEVELOPMENT 2260 HEMPHILL STREET FORT WORTH, TX

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Timeline: The TDHCA application process for 9% Competitive Housing Tax Credits begins in January with a Pre-Application. The DFW Region usually provides enough money to fund approx. 10 tax credit developments. The full application for the tax credits is due no later than March 1, 2019. In the 9% Competitive process a Resolution of Support from the City Council will be required to obtain maximum points. In late July, the final 9% HTC awards are made. In Mid-August, the HTC commitments are issued, city entitlements should be finalized and the final financing process commences. Upon final closing of the development on or about the end of the year, construction will begin. The NuRock Companies -Fully Vertically Integrated Professional Company: Since its inception over twenty-five years ago, The NuRock Companies (“NuRock”) which include NuRock Development, NuRock Construction, NuRock Management,

Inc. and NuRock Housing Foundation have been built on the expertise of its people to

develop, operate and manage the highest quality housing and supplement that

housing. Quite simply, NuRock’s product is service --- service delivered with a

commitment to excellence. Our successes are based on attention to detail and a dedication to quality, both accomplished while anticipating and satisfying the demands of the marketplace and focusing on the needs of our residents. NuRock’s operations encompass all aspects of real estate activity, including acquisition analysis, development support, construction, property management, governmental regulatory compliance services, due diligence support work and longtime ownership. Additionally, NuRock provides our award-winning BreakOut™ after school and summer program for resident’s children at no cost to the resident. NuRock is one of the largest developers, owners and managers of multifamily housing in the southwest. NuRock has the financial capability, banking, mortgage and equity relationships to complete any multifamily project from the acquisition and rehabilitation of an affordable property to construction of luxury lofts over retail.

For Additional information please contact us at the following: The NuRock Companies 5906 Old Fredericksburg Road Suite 200 Austin, Tx 78749 Office Ph: (512) 861-4440 John Boyd, Senior Vice President Cell: (512) 426-4991 Email: jboyd@nurock.com Lisa Rucker, Vice President Cell: (512) 409-6170 Email: Lrucker@nurock.com