Fort Worth suburb banks on ‘economic engine’ to spur business, housing growth
For years, acres of vacant land stretched across the northern part of Haltom City.
Now new homes, a million-square-foot business park and luxury apartments are changing the landscape.
Despite the coronavirus pandemic, the Northern Cross district, a 1,588-acre area minutes away from downtown Fort Worth, Dallas/Fort Worth Airport and the Alliance corridor, is quickly taking shape and city leaders and developers are banking on its potential to rev up the economy in the area.
“This (Northern Cross) will be a jewel for this city. We won’t be as dependent on property taxes with more sales tax revenue,” said city manager Rex Phelps.
“This will be our recipe for success. This will serve as an economic engine for our city and for the region,” he said.
The Northern Cross district is a mix of single-family homes, multi-family residences, restaurants, hotels, and other businesses.
New homes are selling quickly in the High Point subdivision near Haltom High School, and construction is underway at The Stream, luxury apartments along Big Fossil Creek.
The 72-acre 820 Exchange business park is also taking shape, and will feature distribution centers, space for corporate headquarters and office space. Restaurants, including Hoffbrau Grill and Steakhouse, a Holiday Inn and two Marriott hotels are also coming to the Northern Cross district.
The business park alone will create 1,500 to 1,700 jobs, Phelps said. That will encourage more development such as restaurants, retail and entertainment, he said.
Stephen Barnes, a partner with Alpha Barnes Real Estate which developed the lots in the High Point subdivision which were pre-sold to David Weekley and K. Hovnanian Homes, and is also developing The Stream luxury apartments, said the widening of 820 and the proximity to downtown Fort Worth, DFW Airport and Alliance were factors leading to high interest in the northern portion of Haltom City.
“This is an amazing convenience for commuting,” Barnes said.
In Haltom City, many of the homes were built after World War II for returning veterans, he said.
There were some new homes built, but in the past 10 years, city officials were interested in seeing more development, he said.
“We are appreciative of the city’s pro development attitude,” he said.
Our Country Homes is also building a subdivision called Heritage Place across from the Haltom City library.
Augie Gomez, principle and co-CEO at the McRae Group that is developing the 820 Exchange business park in partnership with LGE Build, said work is ahead of schedule, and that Stream Realty is leasing the buildings.
Gomez said there was interest in the 820 corridor, and that the company bought property, anticipating the highway expansion.
“We were very attracted to the site,” Gomez said.
The highway widening project led Haltom City to prepare for the future by installing utilities and building roads and sidewalks.
The goal is to connect neighborhoods to parks and for people to walk to the restaurants and other businesses, Phelps said.
Phelps said the “buzz” about the 820 corridor is leading to development in other areas of Haltom City.
Haltom City has around 45,000 residents, and 1,300 businesses
Phelps said he has never seen so much development taking place at once. He said the pace of the new homes went beyond the city’s projections for residential growth in the Northern Cross area.
“Even though we are going through this COVID situation, we have more going on right now in Haltom City than anyone can remember,” he said.