Construction to begin on one of Fort Worth’s most anticipated developments

Goldenrod also plans to build One University, another major mixed use development, less than half a mile away at 1001 University Drive. Read more at: https://www.star-telegram.com/news/business/fort-worth/article311450460.html#storylink=cpy That project is slated to have a 10-story residential tower with a 176-room Autograph Collection hotel and 259 apartments. An adjacent nine-story tower will house a parking garage, retail space and 12,000 square feet of Class AA offices. Read more at: https://www.star-telegram.com/news/business/fort-worth/article311450460.html#storylink=cpy The towers will fill up a block between Morton and Bledsoe streets, which has already been cleared of a few older bars. The site is across University Drive from the Modern Art Museum campus. Read more at: https://www.star-telegram.com/news/business/fort-worth/article311450460.html#storylink=cpy Commercial real estate firm JLL will be leasing offices in both properties. Read more at: https://www.star-telegram.com/news/business/fort-worth/article311450460.html#storylink=cpy

Zach Wiegert, Goldenrod’s managing principal, told the Star-Telegram in October that he believes new development in the Cultural District could make it a walkable arts district similar to Uptown Dallas. Read more at: https://www.star-telegram.com/news/business/fort-worth/article311450460.html#storylink=cpy Wiegert, who is also a former NFL player and member of the College Football Hall of Fame, has said he thinks the Cultural District is ripe for more office development as employers seek out spaces with more top-notch amenities. He predicted that companies will be more inclined to choose Fort Worth instead of Dallas when relocating to the Metroplex. “I think these kinds of projects and these kinds of locations, and creating a district kind of like Uptown, will be the driving force to bring those headquarters to Fort Worth in the future,” he said in the October interview. The Cultural District has already seen several projects over the past few years. The Crescent Fort Worth hotel’s opening in 2023 on Camp Bowie Boulevard signaled a new era for the West 7th and Cultural Districts. In April, JPMorganChase announced it will move its Fort Worth headquarters from downtown to the eight-story Crescent Offices West tower expected to open in early 2027. Read more at: https://www.star-telegram.com/news/business/fort-worth/article311450460.html#storylink=cpy

Construction of One University and the Van Zandt is expected to cost roughly $183 million. Both developments are projected to generate over $39 million in new tax revenue. Goldenrod could receive up to $30.8 million in economic incentives from the city of Fort Worth, if it meets competition deadlines for both projects. A joint incentives package for both projects was passed in 2023. In August, it was amended to separate incentives for both projects, a move expected to make it easier to secure financing for the developments. To receive the incentives, Goldenrod must finish the Van Zandt by the end of 2026, and complete One University by the end of 2027. Wiegert told the Star-Telegram in October that he expected a groundbreaking on the Van Zandt around the holidays. It’s unclear what has delayed the project’s start. The Van Zandt and One University are Omaha, Nebraska-based Goldenrod’s first Fort Worth projects. In 2023, the development firm bought more than 35 acres in Dallas’ Trinity Groves district. The property is expected to be redeveloped with housing, hotels and offices on the west side of the Trinity River from downtown. Read more at: https://www.star-telegram.com/news/business/fort-worth/article311450460.html#storylink=cpy