62+ Affordable Community Opens in FW

Fort Worth Housing Solutions has opened Cowan Place Senior Living, a 174-unit affordable and age-restricted community in Fort Worth, Texas. Developed by McCormack Baron Salazar and designed by Bennett Benner Partners, the project represents Phase I of the Stop Six Choice Neighborhood Initiative, a transformation plan designed to improve the Stop Six neighborhood in Fort Worth with affordable housing and neighborhood amenities.

According to Yardi Matrix data, the financing for the project included a $20 million loan originated by Trinity River Public Facility Corp. through BOKF Bank, a $15.7 million HUD loan from Mason Joseph Co. and a $9 million self-financed construction loan originated by Forth Worth Housing Solutions.

The four-story building incorporates one- and two-bedroom floorplans ranging between 596 and 900 square feet. Common-area amenities include a fitness center, a community room, a courtyard, a library, a salon, a recreation room, a theater, four laundry facilities and controlled access. The 62+ community also features spaces for private meetings with healthcare professionals.