Fort Worth offers $11 million to buy Southwestern Seminary dorms for homeless families

Fort Worth wants to help families experiencing homelessness with the purchase of 140 dorm units from Southwestern Baptist Theological Seminary.

The city’s housing finance corporation offered $11 million Tuesday to purchase a 15-acre property southwest of the intersection of West Drew Street and McCart Avenue.

The seminary accepted the offer Wednesday, the city announced in a press release.

The $11 million price tag will be split among the city and a collection of Fort Worth-based foundations and nonprofit organizations.

Crime prevention nonprofit One Safe Place ($5 million) and homeless service nonprofit Tarrant County Samaritan House ($4.1 million) are the largest contributors.

The Fort Worth City Council will need to vote on Samaritan House’s contribution, because the money comes from previously allocated federal funds.

The Rainwater, Morris, Amon Carter, Sid Richardson, and Paulos foundations will contribute the remaining $1.9 million needed for the purchase.

One Safe Place and Samaritan House will split the 140 units, with some set aside to house victims of domestic violence.

Divine intervention played a role in bringing the project together, Fort Worth city council member Elizabeth Beck said Tuesday at a housing finance corporation board meeting.

Facing a deadline to purchase the property, Beck credited a collaboration with Mayor Mattie Parker to bring the partnership together.

“This will transform lives in our community,” Beck said.

Parker thanked seminary vice president Colby Adams for his patience as the city put the partners together.

She noted the seminary had a cash offer on the table for the property, but praised Adams for holding off in favor of using the dorm space to house families experiencing homelessness.

Family homelessness jumped more than 50% from the last quarter of 2021 to the last quarter of 2022, according to the city.

The city expects to close on the purchase by the end of June.

Move-ins for the first 60 of the 140 units are expected by the end of the year.

This story was originally published March 1, 2023, 2:47 PM.