Urban Infill Loads up Fort Worth’s Shopping Cart
Fort Worth’s retail revival started with the Sundance Square’s success and then took off with the West 7th development in the Cultural District. Venture Commercial’s Easley Waggoner Jr., Mike Geisler, and Don Miller recently took over leasing for the project, which spans five city blocks bordered by University Drive (on the west), W. 7th Street (on the north), Foch Street (on the east), and Morton Street (on the south). The pedestrian-friendly development is also getting some artistic and aesthetic enhancements with new lighting, signage, and an outdoor canopy and play area. (Finally, a place to hone our street miming skills.)
Started with the redevelopment efforts of the old Montgomery Ward building, West 7th recently added two new buildings on the northwest and southwest corners of the development, which brings the retail space to 279k SF. The mixed-use development includes about 104k SF of office space that is 100% leased, and 537 luxury apartment units at The Lofts at West 7th, which are nearly 95% leased. The dining scene at West 7th is already booming, led by restaurant mogul Tristan Simon, whose West 7th Fireside Pies is the highest-performing of five DFW locations.
More infill projects are in the works, including two by Trademark Property: the trendy West Bend and Waterside. Trademark Property chairman/CEO Terry Montesi tells us West Bend will open the middle of next year. Located in the highest-performing retail district in all of Tarrant County with University Park Village across the street, Terry says this walkable project will feature cafes and restaurants overlooking the Trinity River with a retail anchor and 50k SF of Class-A office space. Construction has started at the project should open by the middle of next year.
Terry calls the $150M Waterside (rendered here) project “one of the greatest suburban infill development opportunities in Tarrant County.” (Wasn't that the title of a movie?) The iconic property is well known as the former General Dynamics/Lockheed Martin rec area on the Trinity River. Terry tells us he’s scheduled to close on the land mid-year and plans 200k SF of retail, 800 apartment units, some single-family housing, and about 100k to 150k SF of office. The 63-acre project will also be just one block from the new Chisholm Trail parkway. Plans call for connecting to the Trinity Trail, which currently ends at each end of the property. The project should start construction later this year and be ready for Christmas 2015.