T&P Station parking area redevelopment stopped briefly after Austin designer takes out

Plans to redevelop the T&P Station's car park on Vickery Boulevard into a mixed-use development with property, public and commercial areas have been halted after the developer pulled out of the offer.

Seco Ventures, which prepared to acquire the parking owned by Trinity Metro adjacent to the T&P Station, has actually chosen not to progress with the purchase despite entering into a sale arrangement with the transit company on Jan. 16.

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Trinity Metro declined to divulge why Seco Ventures canceled the purchase.

Chad Edwards, executive vice president of technique, development and preparation, said this update is frustrating.

" Deals don't occur in some cases, sadly," Edwards said.

At this time, the transit company prepares to review the task and its ask for proposal, moving on with a "lessons found out" attitude, Edwards stated.

" In several months, I think we'll return and find out how we start over," he said. "Is it a re-issue of a (ask for proposition)? Is it a new RFP, do we fine-tune it in some method?"

The original proposal revealed two buildings on the site. One was set to be mainly property, with some industrial area on the ground floor.

Discussions for the job have been ongoing because a minimum of December 2022. The Southside Tax Increment Financing District had approved at that time a tax agreement equivalent to $2.5 million to support the $75 million development.

Seco Ventures is based out of Austin and has plans to establish 26 acres on the future Panther Island.

There are no plans at this time for Trinity Metro to redevelop the T&P Station car park themselves.

" That's not what we do. We move people. We do not always establish properties so it's most likely much better we discover the professionals who understand how to develop the residential or commercial property to do that work," Edwards said.

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by Sandra Sadek, Fort Worth Report.
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