$ 850M mixed-use task near Fort Worth's Cultural District to begin in early 2025

A 35-acre mixed-use job simply west of downtown Fort Worth at the intersection of University Drive and White Settlement Road took a step forward earlier this month when City Council authorized a rezoning demand from designers.

FW Westside Investors-- a mix of Dallas home builder Larkspur Capital and personal equity financial investment company Keystone Group LP-- strategy to break ground on the preliminary stage of the $850 million task in the first quarter of 2025.

Five parcels in the development were rezoned as high-intensity mixed-use with strategies to develop a pedestrian-friendly city town. The first phase of the task is anticipated to include retail, dining establishments and mixed-use structures.

The task, just north of the city's Cultural District, includes the previous site of the Fort Worth ISD headquarters, numerous industrial storage facilities and the existing location of the Autobahn Fort Worth dealership.

The task could span as much as 2 million square feet of property, retail, workplace and hospitality area at complete buildout, according to the documents filed with the city. Developing green area and redeveloping some existing buildings on the website likewise belong to the strategy, Carl Anderson, president of Dallas-based Larkspur, stated in an interview.

" We are extremely focused on a lot of green space," he said. "We have a large yard in the middle for events, then naturally, we have a sort of green belt that increases from there to the levee wall."

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Anderson wishes to utilize currently offered civic assets such as the close-by Trinity Trails system and the Panther Island project, which is slated for a mile away.

" We want to leverage those and really bring joggers, people and cyclists down into the district and vice versa," he said.

Much of the residential or commercial property in the advancement is owned by Autobahn Realty Partners, the long time high-end vehicle dealer that has actually been wanting to move its operations. The car dealership has actually thought about the Clearfork advancement and a site in Benbrook, however no company plan has been revealed.

Anderson stated the residential or commercial property's place, near the West 7th home entertainment district, the Cultural District, Panther Island and downtown provides his company a lot of choices.

" It's a fantastic location with plenty of assets," he said. "That's what we're seeking to do here, take this as soon as industrial area and then make it a real, live, work, play environment."

It will not all be brand-new development, Anderson stated.

" There's a few of these structures here that we plan to keep," he stated. "We like to keep some of these structures and anything that has significance-- historical or architectural. We 'd like to redevelop a few of those buildings utilizing the very same bones."

Anderson also is positive about including more workplace to the city.

" Contrary to what the headings state about office (area), we're bullish on office in the ideal markets," he stated. "We're thrilled to get going."

Fort Worth ISD offered its central administration building in 2020 for $4.96 million and moved to a site farther west, at 7060 Camp Bowie Blvd

. The job is moving on as other residential or commercial properties near West 7th Street and the Cultural District are also seeing new development.

John Goff's luxury Crescent Hotel, 3300 Camp Bowie Blvd., opened earlier this year and consists of a high-end office element. Goff has actually announced a 2nd office building at the website.

In October, the Fort Worth City Council also authorized a $30 million financial advancement contract to support two tasks valued at $400 million on 2 high-profile sites, one on West 7th Street and the other on University Drive.

Bob Francis is business editor for the Fort Worth Report. At the Fort Worth Report, news decisions are made individually of our board members and monetary advocates.

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The Fort Worth Report keeps the copyright for all of its published content. Contact Managing Editor Thomas Martinez if you have any other concerns.$ 850M mixed-use job near Fort Worth's Cultural District to break ground in early 2025.
by Bob Francis, Fort Worth Report.
June 19, 2024.

<< h1>>$ 850M mixed-use project near Fort Worth's Cultural District to break ground in early 2025 <.
<< p class="" byline" > by Bob Francis, Fort Worth Report << br/>> June 19, 2024<.

<< p>> A 35-acre mixed-use project simply west of downtown Fort Worth at the intersection of University Drive and White Settlement Road took an advance earlier this month when City Council approved a rezoning request from developers.&& nbsp;. < p > FW Westside Investors-- a mix of Dallas builder Larkspur Capital and private equity financial investment firm Keystone Group LP-- strategy to break ground on the preliminary stage of the $850 million project in the first quarter of 2025.&& nbsp;. < p > Five parcels in the advancement were rezoned as high-intensity mixed-use with strategies to produce a pedestrian-friendly urban town. The first phase of the job is expected to consist of retail, dining establishments and mixed-use buildings.&& nbsp;. < p > The project, just north of the city's Cultural District, includes the former website of the Fort Worth ISD headquarters, numerous industrial warehouses and the << a href=" https://fortworthreport.org/2024/05/09/autobahn-moves-on-from-clearfork-explores-other-locations-in-fort-worth-benbrook/">> existing location< of the Autobahn Fort Worth dealership.&& nbsp;. < p > The project might cover as much as 2 million square feet of domestic, retail, office and hospitality area at complete buildout, according to the documents filed with the city. Producing green area and redeveloping some current buildings on the site likewise are part of the strategy, Carl Anderson, president of Dallas-based Larkspur, said in an interview.&& nbsp;. < p >" We are very concentrated on a lot of green area," he said. "We have a big yard in the middle for occasions, then of course, we have a type of green belt that increases from there to the levee wall."&& nbsp;. < p > Anderson wishes to use currently available civic assets such as the close-by Trinity Trails system and << a href=" https://fortworthreport.org/2023/06/14/what-is-panther-island-tracing-the-1-16-billion-projects-complex-past-present-and-future/">> the Panther Island task<, which is slated for a mile away.&& nbsp;<& nbsp
<;. < p >" We wish to leverage those and truly bring joggers, people and bicycle riders down into the district and vice versa," he said.&& nbsp;. < p > Much of the property in the development is owned by Autobahn Realty Partners, the longtime high-end vehicle car dealership that has been seeking to move its operations. The dealer has << a href=" https://fortworthreport.org/2024/05/09/autobahn-moves-on-from-clearfork-explores-other-locations-in-fort-worth-benbrook/">> thought about the Clearfork advancement< and a site in Benbrook, however no company strategy has actually been revealed.&& nbsp;. < p > Anderson said the residential or commercial property's place, near the West 7th entertainment district, the Cultural District, Panther Island and downtown offers his business a great deal of alternatives.&& nbsp;. < p >" It's a terrific area with a lot of assets," he stated. "That's what we're looking to do here, take this once enterprise zone and then make it a real, live, work, play environment."&& nbsp;. < p > It will not all be new development, Anderson said.&& nbsp;. < p >" There's a few of these buildings here that we prepare to keep," he said. "We like to keep some of these structures and anything that has significance-- architectural or historic. We 'd like to redevelop a few of those buildings using the same bones."<.
<< p>> Anderson likewise is optimistic about adding more workplace to the city.&& nbsp;. < p >" Contrary to << a href=" https://www.texastribune.org/2023/11/29/texas-office-space-downtown-economy/">> what the headlines state< about office (space), we're bullish on office in the ideal markets," he stated. "We're excited to get going." && nbsp;. < p > Fort Worth ISD sold its << a href=" https://fortworthreport.org/2022/08/16/fort-worth-isd-plans-to-sell-some-properties-consolidate-schools-for-cost-savings/">> central administration < building in 2020 for $4.96 million and transferred to a site farther west, at 7060 Camp Bowie Blvd.<.
<< p>> The project is progressing as other residential or commercial properties near West 7th Street and the Cultural District are likewise seeing brand-new advancement.&& nbsp;. < p > < a href=" https://texasbusiness.org/hall-of-fame-old/john-c-goff/" > John Goff's high-end < a href=>" https://thecrescenthotelfortworth.com/" > Crescent Hotel , 3300 Camp Bowie Blvd., opened previously this year and consists of a high-end workplace component. Goff has < a href= "https://fortworthreport.org/2024/03/28/crescent-fort-worth-announces-second-amenities-rich-office-building-for-cultural-district/" > announced a second office building at the site. & nbsp;. < p > In October, the Fort Worth City Council likewise authorized>a < a href=" https://fortworthreport.org/2023/10/10/fort-worth-proposes-30m-deal-to-spur-new-hotel-retail-and-office-space/" >$ 30 million economic development contract to support two projects valued at$ 400 million on 2 high-profile sites, one on West 7th Street and the other on University Drive. & nbsp;. < p > < em > Bob Francis is company editor for the Fort Worth Report.&Contact him at bob.francis@fortworthreport.org. At the Fort Worth Report, news decisions are made separately of our board members and financial fans. Find out more about our editorial independence policy here.. This < a target=" _ blank" href= "https://fortworthreport.org/2024/06/19/850m-mixed-use-project-near-fort-worths-cultural-district-to-break-ground-in-early-2025/">article very first appeared on < a target=" _ blank" href= "https://fortworthreport.org">Fort Worth Report and is republished here under a Creative Commons license. < img src= "https://i0.wp.com/fortworthreport.org/wp-content/uploads/2021/04/cropped-favicon.png?fit=150%2C150&ssl=1" design= "width:1 em; height:1 em; margin-left:10 px;" > < img id="" republication-tracker-tool-source" src= "https://fortworthreport.org/?republication-pixel=true&post=136813"" style="" width:1 px; height:1 px;" >. Copy to Clipboard."><1.