A $2 billion mixed-use development is in the works for the metroplex.
River Central, the name of the extensive development, will extend over 140 acres in Forth Worth and Grand Prairie, including 50 acres dedicated to open space.
The project includes a planned 140-room hotel, 120,000 square feet of offices, a 56,000-square-foot concert venue, 60,000 square feet of retail, 125 townhomes, and 1,000 apartment units.
The high-density area will have buildings ranging from five to ten floors. Residents will have easy access to rail, highways, and the airport. San Francisco-based Gensler will be the architect of the project.
At an October 9 meeting, the Forth Worth Zoning Commission approved rezoning 25 acres of land at 3500, 3508, and 3518 State Highway 350 from agricultural to high-intensity mixed-use. A Fort Worth City Council vote on the rezoning could occur as early as November 12.
“Might work this time unlike the entertainment district near Pappas that never took off…there’re a lot more people living in DFW now,” commented one user on social media platform X in response to the project proposal.
Ken Schaumburg, a partner on the development, says roughly 80% of the engineering work on the project is complete, costing about $5 million to date. He says they expect to break ground in as little as 12 months.
While some grocers have expressed interest in the development, none have been brought on board, states Schaumburg.
David Hasenzahl, principal at Hasen Design Build and Development and a managing partner for River Central, says the development is a floodplain reclamation project. As a result, the Federal Emergency Management Agency (FEMA) and the Army Corps of Engineers will collaborate to help develop the site.
While the entire site encompasses roughly 400 acres, only about 140 will be developed, says Hasenzahl. Once complete, he estimates the area will be worth $2 billion.
Hasenzahl says the new development will be similar to the mixed-used development Clearfork. As previously reported in The Dallas Express, Clearfork was erected in 2013. Last year, Cassco Land Company announced plans to expand the development situated in West Fort Forth.
Since zoning and a public improvements district have already been approved in Grand Prairie, Hasenzahl expects the River Central development to begin first, with retail and multifamily living construction.