FORT WORTH, Texas, Sept. 20, 2016 /PRNewswire/ -- The partners of Columbia Renaissance Square I, L.P. hosted a groundbreaking ceremony for the first phase of the new Columbia at Renaissance Square development in Southeast Fort Worth. The event was held at the building site on W.G. Daniels Drive (west of Uplift Mighty Preparatory, off of Grayson Street) on Monday, September 19, 2016 at 10:00 a.m.
"This groundbreaking is an exciting next step in the overall revitalization efforts in our Stop Six neighborhood. Starting first in Renaissance Square, these apartments coming in will not only provide an excellent housing option, but also pair nicely with our city-wide efforts to focus on health, education and engagement," said Fort Worth Mayor Betsy Price. "I am confident that by growing the relationships with our already strong partners in the area we will continue to increase the vibrancy in this community for years to come."
Well-connected street networks, infrastructure to support biking, pedestrian oriented streetscapes, easy access to Cobb Park, large green spaces and play areas for children will support an active lifestyle for residents and visitors. A future YMCA facility, a grocery store and health clinics will be located on site. The property will also include space to host a farmer's market and support on-site gardening and farming for residents. The sustainable design of Columbia at Renaissance Square will increase access to nature and facilitate social engagement. Education centers, retail and office space is also located on site.
"Columbia at Renaissance Square is the result of hard work between all of our partners for the benefit of the future residents that will occupy this remarkable development," said Noel Khalil, chairman and CEO of Columbia Residential. "Our goal is to transform the existing site and provide high-quality and sustainable affordable housing for the people of Fort Worth to be proud of and enjoy for years to come."
Key partners involved in the project are Columbia Residential, the City of Fort Worth, BBVA Compass Bank, RBC Capital Markets and Renaissance Heights United. Located in southeast Fort Worth, Texas, Columbia Renaissance Square will contain three phases of mixed-income housing. The project closed in August 2016 and is expected to be completed by late 2017. Columbia Residential has already started construction on Phase I, which will include 140 units of mixed-income housing comprising of high-quality, sustainable design and construction. Phase II will contain 120 units of senior housing and is expected to begin construction in early in 2017.
"BBVA Compass is proud to support a project that will put affordable housing within reach for the people of Fort Worth," said BBVA Compass Fort Worth CEO Brian Happel. "We want to be an engine of opportunity in this city, and our work at Columbia Renaissance Square puts a big exclamation point on that statement for us."
The vision for Columbia Renaissance Square was developed and refined by hundreds of people, including community officials, town planners and designers. The master planned community encompasses a number of community assets that will be available for residents, making it a unique site for the city. The project will mark a turning point for the neighborhood and its future residents.
Hon. Kelly Allen Gray and Mr. Hap Baggett served as co-hosts and emcees for the event. Other notable guests included Councilwoman Kelly Allen Gray, Fort Worth District 8, Reverend Carl Pointer, Mayor Betsy Price, Mayor of Fort Worth, Mr. Larry Tubb, Chairman, Renaissance Heights United, Texas State Representative Nicole Collier, Mr. Brian Happel, president of BBVA Compass Bank, Mr. Brian Flanagan, RBC Capital Markets, Ms. Carol Naughton, president of Purpose Built Communities, and Mr. Noel Khalil, chairman and CEO of Columbia Residential.
About Columbia Residential
Founded in 1991, Columbia Residential develops and manages multifamily affordable housing communities in locations that are underserved by the affordable housing industry. Columbia Residential provides quality, safe and affordable housing for moderate to low-income families that not only meet the needs of residents, but also satisfy the aesthetic standards of the community. Since it's founding, Columbia Residential has won more national awards for architectural excellence than any other housing provider.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 674 branches, including 345 in Texas, 89 in Alabama, 75 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (4th). BBVA Compass was recently named Best Digital Bank in North America by global finance magazine Euromoney, and earned top nods for best mobile app and best regional bank in the South & West in Money magazine's annual list of the Best Banks in America. Additional information about BBVA Compass can be found at bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.
BBVA Compass is a trade name of Compass Bank.
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SOURCE Columbia Renaissance Square