Upscale apartments bring hopes for revitalization in this Fort Worth suburb

A developer plans to build upscale apartments in an area that needs revitalization.

An apartment complex called Jefferson at Baker Boulevard is planned near the Haltom City border with Richland Hills after the Haltom City City Council voted 5-1 May 8 to approve a request from developer JPI to change zoning from commercial to multifamily. The approximately 10 acres are at 6200 and 6223 Baker Blvd.

The new apartments will have amenities including a dog park and four courtyards. The 1-, 2- and 3-bedroom units will feature hardwood floors, stainless steel appliances (including washers and dryers) and granite countertops. The four-story complex will have 350 units.

City manager Rex Phelps said he is pleased that JPI wants to build in south Haltom City, where new development and revitalization are needed. JPI recently opned a complex on North Beach Street in Fort Worth called Jefferson at Fossil Creek.

“We are familiar with JPI, their projects hold value,” Phelps said.

The new complex is near a tax Increment reinvestment zone, which will help improve south Haltom City, he said.

Phelps said that city officials and JPI are working on plans in which Haltom City would own the property and lease it back to the developer. Instead of paying property taxes, the developer would pay the equivalent in property taxes back to Haltom City for 99 years.

Haltom City received $9,301 in tax revenue from the Baker Boulevard property the past six years, according to the city. During the first six years of operation, the city would get an estimated $2.6 million from the apartment complex.

“This is the kind of growth we need where we can keep lowering the tax rate for our citizens,” Phelps said.