Hoque Global’s redevelopment of a historic African American neighborhood in Fort Worth is pushing ahead.
The Evans and Rosedale “urban village” project was first approved in 2019 with nearly $20 million of financial incentives provided by the city of Fort Worth.
Construction is expected to start on two multifamily buildings with ground-floor retail in March 2024, according to a Texas Department of Licensing and Regulation filing. The project to build one five-story and one four-story building is expected to cost $65 million.
The project is expected to have 292 multifamily units and 28 live-work units, the Fort Worth Report reported last year. The project will include residential and commercial buildings around pedestrian friendly green spaces.
A second phase of development will include 20 townhomes, though a timeline hasn’t been announced. Twenty percent of the residences will be priced as affordable housing.
The development is located at 901 South Freeway off Interstate 35 in Fort Worth’s Historic Southside neighborhood, where the city has been pushing economic and real estate development for over 20 years. The Evans and Rosedale project is meant to be the center of the revitalization project but has been delayed due to pandemic-related complications, according to the city.
Fort Worth invested over $2 million in street and infrastructure improvement and built a city library in 2008 to attract development to the area. A bank and city-funded Business Assistance Center have opened since then.
The Evans Rosedale Development will fuel further private investment into the area, according to the city’s economic development department. The city is looking to lure a premiere grocer to the project. The closest grocery store to the Evans/Rosedale area is a Walmart nearly 3 miles away.
Dallas-based Hoque Global has been a big player in the redevelopment of the historically African-American southern districts of Dallas and Fort Worth.
The firm was awarded $96 million in economic support last year for the Newpark development located just south of Dallas City Hall. Plans have been in the works for years for the 20-acre project, the centerpiece of which will be a 38-story office, residential and hotel tower built in partnership with Omaha-based Lanoha Real Estate Company.
Hoque is also leading a 270-acre mixed-use project next to the campus of the University of North Texas at Dallas. The planned community, called University Hills, will include residential and commercial development and will be the first large-scale mixed-use community of its kind in southern Dallas. Additionally, Hoque is building a massive Tuscan-style resi community near Austin.
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