A key piece of Fort Worth’s downtown history has a new owner who has big plans for its future.
Mainstreet Partners, a fresh real estate investment firm founded in 2024, has recently acquired the historic W.T. Grant department store building at 611 Houston St.
The purchase from Sabot Development of Lakeway, Texas, was finalized in early December, and the new owners are now looking to renovate the structure while preserving its historic art-deco character, according to a report from The Dallas Business Journal.
The building, which dates back to 1939, has been a staple of downtown Fort Worth’s landscape.
Known for housing popular spots like The Library and Pete’s Dueling Piano Bar, the 23,000-square-foot property has seen its share of history. Despite its iconic status, however, it had fallen into a moldy state that required an increasing amount of maintenance in recent years, a factor that almost deterred MainStreet Partners from moving forward with the deal.
Mitchell Parker, co-founder and partner at MainStreet Partners, shared that although issues like water damage and mold initially raised concerns for 611 Houston St., the firm ultimately saw the building’s potential.
“There’s some really cool, interesting concepts that have shown interest in the space… We haven’t finalized anything at this point,” Parker told DBJ.
“It’s also close to Sundance Square, and services a lot of not only local Fort Worth residents, but also a lot of traffic from conferences and visitors that come into downtown. It’s a great property,” he added.
While financial details of the transaction were not directly disclosed, the Tarrant Appraisal District appraised the building at $2.3 million, although evaluations can often run lower than market value. According to the listing brochure, the property, once a thriving department store, offers a mix of commercial spaces as well as a currently vacant 8,600-square-foot basement.
The decision to acquire the W.T. Grant building was also apparently driven by the recent wave of growth in downtown Fort Worth, marked by big projects such as the $150 million Deco 969 residential tower and the upcoming upgrades to the convention center.