Fort Worth, Texas – Goldenrod Companies is set to revitalize Fort Worth’s West 7th District with two major mixed-use developments, marking a significant investment in the area’s Cultural District.
The West 7th District of Fort Worth is on the brink of a major transformation, with Nebraska-based Goldenrod Companies at the helm. The firm has received a substantial economic boost from the Fort Worth City Council, securing nearly $31 million in grants. This investment reflects the company’s commitment to revitalizing the burgeoning Cultural District, as reported by The Dallas Express.
The first of the two projects, ‘One University,’ is an ambitious plan to construct a 10-story residential tower that will feature 240 housing units. This development will not only offer residential space but also include 110,000 square feet dedicated to retail and office use, along with a 175-room hotel. The project, with a budget of $73 million, is expected to be completed by March 2026.
The second project, The Van Zandt, will be located at the intersection of West 7th and Foch Street. This mixed-use property promises to bring 115,000 square feet of office and retail space, 226 apartments, and a 500-space parking facility. The developers aim to meet the project’s deadline by the end of 2026.
In a remarkable move, Goldenrod Companies has committed to investing a staggering $400 million into both the One University and The Van Zandt developments. This financial commitment underscores the company’s dedication to the growth and enhancement of Fort Worth’s Cultural District.
A notable aspect of this expansion is the conditions tied to the City’s incentive package. Goldenrod has agreed to a unique stipulation: no retail space within these properties will be leased to freestanding bars or nightclubs. This decision is a deliberate effort to address concerns about underage drinking and related crimes in the area. This prohibition, lasting the duration of the 15-year contract, does not extend to bars within hotels or restaurants located in the same developments.
While Fort Worth experiences this surge in development, neighboring Dallas is witnessing a comparatively slower pace in commercial development, often attributed to delays in permitting. This situation, particularly under City Manager T.C. Broadnax’s tenure, has been a point of concern, as per reports.
The completion of these projects in Fort Worth is anticipated to reshape the urban core significantly. It will be crucial to monitor their impact on the local economy and how they influence the dynamics between Fort Worth and its neighboring cities. These developments could potentially set a precedent for urban renewal and economic growth in the region.
