The former Bank of America building at 500 W. Seventh St. in downtown Fort Worth will undergo major changes, including a new name.
Red Oak Realty announced Thursday morning that the building will be renamed First on 7th and will undergo major renovations, including a remodeling of the lobby and updates in landscaping for shade in the plaza. The renovations are meant to emphasize the outdoor sculptures next to the building, done by designer Isamu Noguchi.
The ground floor of the 21-floor tower will also be open for retail and dining space. John Kent, spokesman for Red Oak Realty, said the 15,000 square feet on the ground floor will be divided. The company is in negotiations with tenants for the retail and dining space.
Kent said the plan is to have the renovation complete by the end of the year.
“With the advent of new residential developments on downtown’s west end and the area’s increasing popularity as a place to live, work, shop and eat, we think the time is right to bring these amenities to this part of the central business district,” said Jack Clark, president of Red Oak Realty, in a news release.
The upper floors serve as office space for 30 companies. Eighty percent of the available office space is leased, and 45,000 square feet of office space is still available.