FORT WORTH, TX
Cielo Place is the adaptive reuse of the historic Riverside Baptist Church to 69 residential apartments and the new construction of a three-story building containing 22 apartments, for a total of 91 homes. Restricted to families earning up to 30-60 percent of AMI, the development consists of 80 affordable homes. Of the affordable homes, five are set aside for the mobility impaired and two are set aside for the hearing and/or visually impaired. Cielo Place also offers 11 market rate homes. Hunt Capital Partners, LLC syndicated the property and Saigebrook Development, LLC served as the developer using the 9% Housing Credit.
Cielo is on the National Register for Historic Places, circa 1958. The Modern Gothic-style church was originally constructed in 1924. The adaptive reuse includes state-of-the-art clubhouse and community kitchen, a fitness center, a cyber lounge, a children’s playground, outdoor gathering spaces, onside parking and controlled access to the building.
Pursuant to the LIHTC application, the development is required to include supportive services that are accessible to all and free of charge to the residents. Services will be arranged and/or provided by the Management Agent, Accolade, via site staff and volunteer organizations at no additional cost to the tenant.