Fixing up Woodhaven
A real estate developer has made a second multi-million dollar apartment purchase in Cowtown's Woodhaven area. Carlos & Costanzo LLC recently closed on the 176-unit Willows of Woodhaven complex. The company is promising to fix up the complex, telling Globe Street that plans call for spending $200,000.00 on improvements in an attempt to boost the property's meager 62% occupancy rate.
The latest acquisition, which reportedly valued the complex at $3,850,000.00, is next door to the 208-unit Huntington Apartments which the firm purchased back in April at a reported cost of $3,100,000.00
While the single family housing market has slowed down, developers and apartment analysts remain bullish about the Metroplex rental market, citing a strong economy and continued job growth.
The Woodhaven area has seen its share of troubles over the years but Carlos Vaz, a partner in Carlos & Costanzo sees brighter days for the eastside, telling Globe Street, "The area is going to get better."
Let's hope he's right.
Labels: Business/Ecnomics
posted by JohnPeterSmith at 28.5.08
4 Comments:
Nice to see some reporting about goings on in the Eastside!
East Fort Worth's great location makes the area ripe for re-development and improvement. What the area needs is leadership that will address nuts and bolts issues like zoning, code enforcement, and police enforcement, not seek petty look-good projects the way Becky Haskin did.
Yes, East Fort Worth is in a great location .. if we can keep it from becoming one big industrial park with a huge pipeline maze, compressor stations, heavy truck traffic and injection wells. And guess what .. those pesky little people with their yard signs are having an effect! This is still America and powerful people like Mr. McClendon would do well to reconsider how they do business in our neighborhoods.
Good information..I also agree with the other comments, East Fort Worth is in a great location. Thanks for the post!
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