Fort Worth considers $100 million bond to increase supply of affordable housing

Fort Worth is considering using tax-payer supported bonds to increase the city’s supply of affordable housing.

The proposal is still in the early stages, but it’s one of several the city is considering as it prepares for its 2026 bond campaign.

The city’s neighborhood services department is asking for $100 million to support a series of strategies outlined in a 2023 report on Fort Worth’s housing crisis. These include down payment assistance, subsidized apartments, increasing support for residents experiencing homelessness and purchasing land for affordable developments.

The report revealed that a household earning the city’s median income could not afford to buy a home in most of Fort Worth.

The city is in the early stages of planning its 2026 bond campaign and will need to weigh the proposal against projects to support road construction, park expansions and public safety, said Christianne Simmons, who leads the city department in charge of planning, budgeting and data analytics, in an email to the Star-Telegram.

The city has the ability to borrow up to $800 million in the 2026 bond, according to Simmons, however, it’s not clear if will use all of its capacity.

The city is compiling the list of possible bond projects and plans to have a preliminary list sometime in October, she said.

Any bond proposal would have to be approved by voters in the May 2026 bond election.

Members of the Fort Worth City Council appeared to support the idea at a work session Tuesday.

The city has done a great job using bond money to support police, firefighters and parks, and this is another tool it can use when it comes to housing, said council member Chris Nettles, whose represents part or east and southeast Fort Worth.

Council member Jared Williams, whose district includes the Como neighborhood and parts of southwest Fort Worth, echoed Nettles’ sentiments.

He said the bond could create opportunities for generational wealth at a time when a lot of Fort Worth residents are “asset limited.”

This would be the first time Fort Worth has used bond funds to support affordable housing, but it wouldn’t be the first time the tactic has been used in Texas.

Austin, Dallas, Denton, Houston and San Antonio have used bond propositions to build new housing or help residents repair the homes they already have.

The bonds have also spurred investment from private developers with a study of Austin’s bond programs showing developers kicked in $6 for every $1 spent by the city. In San Antonio, that ratio was 9 to 1, according to a city of Fort Worth report.