Fort Worth Texas Real Estate
April 10, 2008
As the revitalization of West Seventh Street rolls along, developers have begun to set their sights on redeveloping the east and southeast portions of Fort Worth. Development in these areas, specifically the Evans-Rosedale and Sierra Vista communities, has been non-existent in recent years. Crime that once plagued the area has dissipated, and opportunities can be found for tax incentives and inexpensive land purchases.
Mixed-Use Project Could Boost Evans-Rosedale
The Evans-Rosedale neighborhood could be the site of a new mixed-use development that would combine residential housing, restaurants, and retail. The project would give Fort Worth Real Estate a big boost in this area between East Terrell Avenue and East Rosedale Street along Evans Avenue. No official word has been released yet on when or if the project will move forward, but Cypress Equities is currently under contract to purchase this land from the city of Fort Worth.
Tax Breaks Boost Southern Neighborhoods
South of Evans-Rosedale, construction is underway in an historic neighborhood close to Downtown Fort Worth and the Medical District. Designated as a Neighborhood Empowerment Zone, a five-year tax abatement has made this community desirable to developers.
Terrell Heights, which is located just north of Evans-Rosedale, is also seeing revitalization. New single family homes reminiscent of the early 20th century are being built, with more construction planned for next year.
As job growth in Fort Worth continues, the redevelopment of Downtown is reaching out into surrounding neighborhoods, bringing much needed upgrades and revitalization to parts of the city that had been all but forgotten in recent years. This is good news for the entire city, as it will only serve to ensure the values of Fort Worth Real Estate remain stable in the coming years.
Fort Worth Real Estate
April 7, 2008
Fort Worth is a city that believes in planning ahead, and they have had a growth plan in place for over a century. As time passes, the plan is updated to meet the needs of the city, and now they enter their newest phase – a five year plan with some very specific goals in terms of growth and development.
Key Goals for Fort Worth
Fort Worth Real Estate goals entering 2008 include the increase of supply and quality of affordable housing, to expand home ownership opportunities, to revitalize existing Fort Worth neighborhoods, and to create mixed income communities where a certain percentage of housing is available to low or median income families.
The Berry/University neighborhood is a prime example of such a mixed income neighborhood, where 10 percent of the units will be available to families whose incomes are at or below 80 percent of the median income.
Housing Affordability
The affordability of Fort Worth Real Estate is affected by several factors: construction costs, land values, interest rates, and market demand. In recent years, lower mortgage interest rates have made home ownership in Fort Worth a reality for low income and low middle income families.
In general, Fort Worth homes are more affordable than homes in the neighboring city of Dallas or in the nearby community of Arlington. In the first half of 2007, one third of the homes sold in Fort Worth cost $140,000 and up.
There is a limited supply of high-end housing in Fort Worth to serve upper income households, and only a limited number of very high-income buyers.
The City of Fort Worth anticipates a large amount of growth in the coming years, and wants to do everything it can to keep housing affordable and neighborhoods intact in those years of expansion and development.
Famous North Texas Wineries
April 7, 2008
The community of Grapevine is steeped in history, including the site where the famous villains known as Bonnie and Clyde killed two Texas highway patrol officers in 1934.
The town, originally settled in the 1840’s and 1850’s, had been named after the Wild Mustang grapes that were abundant in the area during that time. Over time, and as the town grew, the Wild Mustang grapes became fewer and fewer. Many people, though, recognized the fertility of Grapevine real estate and its suitability for growing grapes. In recent years, many wineries have sprung up in the area, paying homage to the town’s beginnings.
Taste a Bit of North Texas History
Grapevine real estate once again is producing flourishing vines, and over a dozen wine tasting rooms and wineries can be located throughout this historic town. Many are in the heart of Grapevine, while others can be found on old homesteads spread among acres of gorgeous North Texas countryside.
Each winery offers its own varietals, so it is worthwhile to take the time to visit each one. Many tastings are offered with food samplings, and many of the wineries host themed or special events, maximizing the experience of each visitor.
Grapevine’s wine ambassadors, the Grapevine Wine Pouring Society, can be found at festivals and events within the city, promoting Grapevine’s many wineries throughout the year.
In a land known for its wild frontier days, the elegant wineries of Grapevine masterfully blend a bit of European character with cowboy heritage, providing a truly unique experience for the many tourists who call on Grapevine each year.
