$850 million mixed-use project near Fort Worth Cultural District to break ground in early 2025

A 35-acre mixed-use project just west of downtown Fort Worth, at the intersection of University Drive and White Settlement Road, took a step forward earlier this month when the City Council approved a rezoning request from developers.

FW Westside Investors — a combination of Dallas builder Larkspur Capital and private equity investment firm Keystone Group LP — plans to break ground on the initial phase of the $850 million project in the first quarter of 2025.

Five parcels in the project have been rezoned to high-intensity mixed use with plans to create a pedestrian-friendly urban village. The first phase of the project is expected to include retail, restaurants and mixed-use buildings.

The project, just north of the city's Cultural District, includes the former Fort Worth ISD headquarters site, several industrial warehouses and the current location of the Fort Worth Autobahn dealership.

The project could expand to 2 million square feet of residential, retail, office and hospitality space once fully built out, according to documents filed with the city. Creating green space and repurposing some current buildings on the site are also part of the plan, Carl Anderson, president of Dallas-based Larkspur, said in an interview.

“We place great importance on green spaces,” he said. “We have a big lawn in the middle for events, and then of course we have a sort of green belt that goes up from there to the sea wall.”

Anderson wants to utilize already available civic assets such as the nearby Trinity Trails system and the Panther Island project, which is planned a mile away.

“We want to take advantage of those assets and really attract people, joggers and bikers to the neighborhood and vice versa,” he said.

Much of the property in the development is owned by Autobahn Realty Partners, the longtime luxury auto dealership that is looking to relocate its operations. The dealership has considered the Clearfork development and a site in Benbrook, but no firm plans have been announced.

Anderson said the property's location, close to the West 7th entertainment district, the Cultural District, Panther Island and downtown, gives his business many options.

“It’s a great place with a lot of strengths,” he said. “That’s what we’re looking to do here, take this once-industrial area and make it a true live, work and play environment.”

It won't just be new developments, Anderson said.

“There are some of these buildings here that we plan to keep,” he said. “We like to preserve some of these buildings and anything that has significance – architectural or historical. We would like to redevelop some of these buildings using the same bones.

Anderson is also optimistic about adding more office space to the city.

“Contrary to what the headlines say about office (spaces), we are bullish on offices in the right markets,” he said. “We’re excited to get started.”

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

The project is moving forward as other properties near West 7th Street and the Cultural District also see new development.

John Goff's luxury Crescent Hotel, located at 3300 Camp Bowie Blvd., opened earlier this year and includes a high-end office element. Goff announced the construction of a second office building on the site.

In October, the Fort Worth City Council also approved a $30 million economic development agreement to support two projects valued at $400 million at two high-profile sites, one on West 7th Street and the other on University Drive.

Bob Francis is business editor for the Fort Worth Report. Contact him at [email protected]. At the Fort Worth Report, news decisions are made independently of our board members and funders. Learn more about our editorial independence policy here.

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