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.