Fort Worth considers $125 million investment to boost a major new development
The city of Fort Worth is proposing investing $125 million into a development near the intersection of White Settlement Road and University Drive.
The “Westside Village” development from Dallas-based developer Larkspur Capital would bring a mix of 238,000 square feet of retail, 880,000 square feet of office space, 1,785 apartments, and a new 175-room hotel to the area previously occupied by the Fort Worth school district administrative building and land owned by luxury car dealer Autobahn.
The new office space proposed for the project would be the largest addition to the city’s inventory in 43 years, said the city’s economic development manager Michael Hennig in a city council work session presentation Tuesday.
It would also include the city’s first mass timber buildings, which is a type of construction using engineered wood beams instead of concrete or steel.
The technique is seen as being more environmentally friendly, and was used by tech giant Amazon for its New York headquarters.
The main sticking point for the project is dealing with the existing flooding and street issues that have plagued the area just north of the West 7th entertainment district.
The area is sandwiched between the higher elevation Crestwood and Monticello neighborhoods and the Trinity River levees.
The city of Fort Worth is proposing to invest $45 million in grants to deal with the flooding and street issues and $80 million in grants for the development of the project.
These grants would be paid out over a 15-year period and are tied to the developer meeting certain benchmarks, Hennig said.
Larkspur Capital has to invest $1.7 billion in the project with a $1.275 billion going directly to construction costs, Hennig said.
If everything goes to plan, the city expects to earn roughly $121 million in new property, hotel and sales taxes, Hennig said.
He made clear that these new taxes would be in addition to the city recouping its $125 million investment.
The Fort Worth city council will vote on the incentive package at its 10 a.m. meeting on June 24.
This story was originally published June 17, 2025 at 5:01 PM.
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