There’s no channel, but some Panther Island land is on the market, ready for development
The largest chunk of privately owned land on Panther Island is on the market.
LanCarte Commercial, in collaboration with Panther Island Property Group, announced late last week that 26 acres across 10 parcels would be up for sale. The land is prime for development as a mix of commercial and residential, LanCarte said in a statement. The development is being called Upstream.
The announcement comes roughly a month after the opening of White Settlement Road, which had been closed to traffic because of bridge construction.
“We’ve been invested on Panther Island for over a decade, and having had the benefit of watching the progress from the sidelines, the marked increase in activity and completion of several key development milestones over the past few months are signaling to us that ‘lift-off’ moment has arrived,” Mark Brock, Managing Partner of Lionhead Real Estate, the largest private investor on the Island, said in a prepared statement.
Six of the Upstream parcels are reading for construction now, according to LanCarte. Seven of the parcels would front proposed canals or other waterfront.
Exact address for the parcels were not available, but a promotional brochure shows three lots surrounding La Grave field along the Trinity River. Most of the lots are to the east of North Main off of North Commerce and North Calhoun, but three lots front North Main, including one at the corner with NE Fifth Street.
Encore Panther Island, a separate apartment development, will bring 300 luxury units to the area. It features the first channel and river walk, which flows through the middle of the complex.
North of downtown Fort Worth, Panther Island would be created if a 1.5 mile bypass channel is cut between the forks of the Trinity River. Totaling $1.17 billion, the project has been billed as flood control as it would prevent river flooding while allowing some downtown levies to be removed. The federal government, through the Army Corps of Engineers, would dig the channel, but Washington has declined to provided necessary funds for several years.
The Tarrant Regional Water District owns much of the land on the proposed island, including La Grave Field, an abandoned baseball stadium.
“There are few locations like this anywhere — a riverfront opportunity directly across the river from the skyline of the U.S.’s 12th largest city,” said Sarah LanCarte of LanCarte Commercial. “Panther Island’s time is now, and Upstream is poised to accelerate the momentum.”
This story was originally published May 3, 2021 at 5:19 PM.
