Who would want to live in Fort Worth Stockyards? This developer bets a lot of people do.
The first units of an apartment complex spread across 10 acres in the Stockyards are expected to open late next year or in early 2026, according to San Antonio-based developer Kairoi Residential.
Framing of the community’s first seven buildings can be seen behind the Armour building. Five buildings will house 418 apartments, while the additional two will have business and maintenance facilities. Work began last summer.
Named Union Stockyards, the project will be Kairoi’s first residential community in Fort Worth. The company has 16 properties in the Metroplex, more than half of which are in Dallas.
Kairoi was drawn to the Stockyards because of its unique historic character and walkability, said Tyler Sibley, principal of development.
“We’re just really excited to be involved in the community, and to nestle into the fabric of the neighborhood that, you know, we think will certainly be benefited by additional housing in this really special part of Fort Worth,” Sibley said.
Studio, one and two-bedroom apartments will be available. Sibley said pricing will depend on the market, but rents are likely to range from $1,200 to $2,400 per month. Preleasing on the will probably begin later this year or in early 2025, Sibley said.
Sibley expects the community to attract young professionals and those looking for a second residence near the Stockyards.
Amenities include a resort-style pool, hot tub, fitness center, sky lounge, dog run, pickleball courts, a basketball half-court, “outdoor cantina” and a clubhouse with areas for those working remotely.
Sibley said about 3.5 acres will be left for future development when the first phase of construction is complete. Kairoi doesn’t yet have concrete plans for the property, but it could be used for more apartments, a hotel or office space.
If the site is fully developed with apartments, there could be as many as 749 units, the Star-Telegram reported last year.
Sibley said the announcement of the almost $1 billion Phase 2 redevelopment of the Stockyards hasn’t changed plans for Union Stockyards, adding Kairoi supports the project.
Redevelopment will almost double the size of the Stockyards, adding underground parking garages, hotels, apartments and commercial space to the historic district.
“The Majestic (Realty Co.) folks have done just an incredible job of just reimagining and repositioning all of the inherently cool and quirky things that made the Stockyards what the Stockyards was before the reimagining,” Sibley said.
Oil and gas firm U.S. Energy Development Corp. purchased the Armour building from Kairoi in 2022. The building is being converted into U.S. Energy’s new headquarters. Architectural firm Bennett Partners, contractor Whiting Turner and KRS Realty Advisors collaborated on the $8 million renovation.
This story was originally published August 22, 2024 at 2:05 PM.
