by Don Mooney
Fort Worth, TEX—A much needed cash injection of $11 million is offered to by the city of Ft. Worth to remedy two problems: homelessness in the city; Southwestern Baptist Theological Seminary declining enrollment.
The sale of most of its Carroll Park student housing complex, covering 20 acres separate from the main seminary campus, will provide financial relief to the Southern Baptist Convention seminary thats experiencing declining enrollment and a bulging budget deficit that has yet to be publicly reported in detail.
The city has put together a public-private partnership to acquire the land — currently populated with 1950s-era duplexes and triplexes — and convert it to permanent housing for the homeless and for families fleeing domestic violence. The full 20-acre tract was listed for sale in October. The city’s proposal will purchase three-fourths of that, leaving behind a doglegged section that runs behind a school.
The seminary had accepted its offer, contingent upon a due diligence period of a few months. A city news release said families in need could begin occupying the dwellings later this year.