FORT WORTH – The city of Fort Worth is teaming up with private developers to invest $29 million over the next four years as they redevelop the historic Hunter Building.
"It really was, potentially, an eyesore for the community," said Fort Worth Mayor Betsy Price during the ceremonial "wall breaking" ceremony Wednesday morning.
The 11-story building was built in 1954 as the Fortune Arms Hotel. In the 70s, it was sold to the Fort Worth Housing Authority, serving as public housing through the 90s, but was ultimately boarded up in 2010.
Plans call for retail and commercial space on the ground floor, with 164 apartments filling the ten stories above. A portion of those will be low-income housing.
"We have to have housing that has some subsidy and lower rent. This is a great adaptive reuse of a facility that is just sitting and that can be built for affordable housing," Mayor Price said.
Price is quick to point out that the exterior will maintain its traditional look -- something she said voters proved they value during Tuesday's election.
Case in point: The majority of voters signing off on a nearly-billion-dollar arena, which is also a public-private partnership. Voters agreed to pay more to maintain the unique look of the city's cultural district.
STORY: Fort Worth arena proposals pass by wide margin
"We're all about our culture here in Fort Worth, and renovating this building is a critical piece of that to try to preserve a little bit of the history," Price said.
Join the Conversation
To find out more about Facebook commenting please read the Conversation Guidelines and FAQs