Provident Realty Advisors Sues Fort Worth Over Industrial Zoning

0
60


A yearslong debate over the zoning of a parcel in southeast Fort Worth is now in district court. 

Dallas-based developer Provident Realty Advisors sued the City of Fort Worth this week, claiming the city “unilaterally” changed the zoning of the development site it bought in 2022 and refused to negotiate the land use or a sale of the property. 

When Provident purchased nearly 7 acres at 4550 Village Creek Road and 4519 Moorview Avenue, the plot was zoned to allow industrial development. 

For years, environmental activists and residents of the adjacent Echo Heights neighborhood, which is predominantly Black and Latino, campaigned to halt industrial development in their backyard, the Fort Worth Report reported. 

This time around, they again argued additional industrial development would increase air pollution and cause health issues for the mostly people of color living nearby.

Since 2000, the city’s land use maps have planned for the area to be an industrial growth center, the Fort Worth Report wrote in 2022.

Last November, the city adopted a comprehensive plan that reduced industrial zoning in the area by 16 percent. This was a major win for advocates who’ve spent years telling local leaders that heavy industry nearby correlates with health problems in the community. 

Three months later, the area’s local council member Jeanette Martinez proposed to rezone Provident’s property as residential. At their May 21 meeting, city council members unanimously approved the zoning change.  

The lawsuit claims Provident wasn’t informed of the city’s application to change the site’s zoning. 

Even though the application was to be discussed at the Zoning Commission on Feb. 14, Provident didn’t learn about the application when it met with city officials on Jan. 17 and Feb. 8. Rather, the developer became aware of the item while reading the agenda for a separate case, Provident claims in the suit. 

After failed attempts to negotiate the property’s land use, the city asked Provident for an offer to sell it. 

The developer offered $3 million, including the $2 million purchase price and $1 million the developer already paid to improve the property. On July 19, the city emailed the developer with a “city-procured appraisal” showing the land’s market value was $1.8 million — a “low-ball” offer, per the developer. 

“The City of Fort Worth doesn’t comment on pending litigation. However, as Councilwoman, I will always support and advocate for district 11 residents to ensure their voices are heard,” Martinez said.

Provident is requesting damages, including attorney’s fees.

Read more

Southern Land Co’s Fort Worth Luxury Apartments to Test Demand

Why “every real estate developer in DFW” is watching Deco 969

Q&A: Christie’s Real Estate’s Jerry Mooty on Fort Worth’s Luxury Market

How Jerry Mooty Jr is growing @properties Christie’s in Texas

Lawsuit claims Shaya Prager lied to get $83 million Burnett Plaza mortgage

Bank claims New Jersey investor lied to score loan at Fort Worth’s tallest tower



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here