The NRP Group Opens Health And Housing Development In Fort Worth: The DFW Deal Sheet
A multifamily developer and the Tarrant County hospital district opened a health and housing development offering mixed-income apartments.
The NRP Group finished work on the 67-unit Thrive on Crawford mixed-income development in Fort Worth. The newly opened project features 2,200 SF of commercial space leased to the county’s JPS Health Network as part of an effort to improve long-term outcomes for residents.
“Thrive on Crawford was designed to go beyond traditional affordable housing – integrating wellness services, quality amenities and convenient access to healthcare into a single community,” The NRP Group Vice President of Development Max Whipple said in a statement.
While seven of the apartments will be market-rate units, the other 60 are reserved for tenants earning 30%, 50% and 60% of the area median income. The project at 1310 Crawford St. is adjacent to a portion of JPS Health Network’s $2.1B program expansion to enhance healthcare services across Tarrant County.
“Our partnership with The NRP Group demonstrates what is possible when healthcare systems and developers come together to build healthier communities,” JPS Health Network President and CEO Karen Duncan said.
Project financing was provided by JPMorgan Chase and Berkadia, along with a tax credit equity investment through an investment fund managed by Red Stone Equity Partners. Additional financing was provided by a Fort Worth tax increment financing district and the Texas Department of Housing and Community Affairs.
Wynne/Jackson and Servitas also assisted in developing the community.
LEASES
Flow Control Group leased nearly 62K SF of industrial space at GSW Commerce Center Building 2 from Molto Properties. The lease brings the two-building speculative development at 3550 N. Highway 161 in Grand Prairie to 100% occupancy. CBRE’s Steve Koldyke, Kacy Jones and Brian Gilchrist represented Molto in the transaction, while Flow Control was represented by Avison Young’s Michael Kennedy and Chet Hall.
CONSTRUCTION AND DEVELOPMENT
Crow Holdings announced plans for a 245-megawatt data center campus on an infill site of around 40 acres along the Stemmons Corridor in central Dallas. The multibuilding campus will start with a 70 MW building that is expected to be delivered in late 2027. That building will be developed with CleanArc Data Centers on a vacant lot.
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April Housing, Blackstone Real Estate’s affordable housing portfolio company, held a grand reopening for the 204-unit West Virginia Park Apartments affordable housing community in Dallas. Community spaces were modernized, solar panels were installed on the roof, and all units at the more-than-20-year-old property received renovated kitchens and bathrooms.
FINANCING
JLL Capital Markets secured acquisition financing for the 162-room Home2 Suites hotel in the Fort Worth Cultural District. JLL worked on behalf of the borrower, a joint venture between Ad Astra Capital Partners and TMGOC Ventures, to secure the financing through Inwood National Bank.
The 108K SF hotel was constructed in 2020 at 1145 University Drive in Fort Worth. Lexima Lodging is the hotel's third-party operator. The JLL Capital Markets team was led by the company’s John Bauman, Scott Dickey, Jordan Buck and Charlie Mossy.
PEOPLE
Corgan promoted Emily Strain to workplace interiors sector leader, a role in which she will oversee strategy and growth for the firm’s global workplace practice. Strain has 20 years of experience and succeeds Lindsay Wilson in the position. Wilson will transition from her dual role in that position and as firm president to focus exclusively on her responsibilities with the latter job.
THIS AND THAT
Visit Fort Worth President and CEO Bob Jameson announced he will retire on April 30. Jameson led Visit Fort Worth for the past 13 years after nearly 30 years as the head of Marriott’s Worthington Renaissance hotel in the city.
