Fort Worth’s decades-long aspiration of having a riverwalk and waterfront similar to San Antonio’s may soon be realized.
Earlier this week, HR&A Advisors, a real estate advisor based in Dallas, revealed its strategic vision for moving forward with the development of Panther Island to both the Tarrant Regional Water District (TRWD) and the Fort Worth City Council.
“Panther Island is a generational development to create economic and recreational opportunities for Fort Worth communities and support continued growth as the city welcomes new businesses, residents, and visitors,” said Aaron Abelson, managing partner at HR&A, in a press release. “Panther Island’s size, proximity to downtown, and the abundance of public land create a rare opportunity for government and private investment to work in tandem. HR&A is proud to play a role in this historic public-private partnership.”
According to the press release, the strategic vision:
- Highlights a phased implementation strategy for near- and long-term development
- Emphasizes adding to a connected open-space network featuring continuous waterfront access
- Encourages a seamless connection to surrounding neighborhoods
- Recommends a governance structure for development on Panther Island
Officials explained at the March 5 meeting that the new vision is not a detailed master plan and would require further development.
“Certainly, not all the details are ironed out, but it has set us on a clear path for the community to understand better,” said Dan Buhman, general manager at the TRWD, according to CBS News Texas. “It’s also modernized the vision. The previous vision of Panther Island was 15, 20 years old. A lot has changed in the real estate market in that time. A lot has changed in Fort Worth.”
Completion of the project is still years away as the flood control system alone will likely take at least a decade to complete. The consultants on the project recommended that the water district sell some of the land to developers and that the city work on changes in zoning.
In assembling the strategic vision, HR&A sought feedback and input from numerous local stakeholders, “including landowners, community members from surrounding neighborhoods, real estate and civic organizations, and others.”
Fort Worth Mayor Mattie Parker highlighted the importance of this undertaking by HR&A.
“When we talk about the future of development in Fort Worth, citywide and on Panther Island, it is vital to have stakeholder and community voices at the table guiding that direction,” said Parker, per the press release. “I appreciate the leadership from our partner agencies and the feedback from residents and business owners throughout this process to work collaboratively to build out plans that reflect the future of Fort Worth.”
