We investigated who owns land on Fort Worth’s Panther Island. Here’s what we found
After a January announcement that Fort Worth’s long-awaited Panther Island redevelopment project has received federal funding, the Star-Telegram scoured public records to determine who owns land in the area — and who could potentially make a buck off the redevelopment.
Under the Panther Island plan, the U.S. Army Corps of Engineers will dig a 1.5-mile channel to connect the ends of a U-shaped bend in the Trinity River, between downtown Fort Worth and the Stockyards. The new channel will create two islands, collectively known as Panther Island.
The Star-Telegram’s analysis focused on the property located on those two islands. While creating more waterfront land in the area, the project also promises to mitigate flood risk to many more acres of Fort Worth land.
If the Panther Island vision comes to life, then dusty, overgrown lots could soon be transformed into sleek new apartment buildings, restaurants and shops bordered by canals dotted with water taxis. The approximately 340 acres of property on the islands, which were assessed at a collective $147 million in 2021, could skyrocket in value as the redevelopment project kicks into gear.
So who actually owns the land at the center of that vision?
The largest landowner on Panther Island
By far the largest landowner on the two islands is the Tarrant Regional Water District, which owns about 235 acres of the islands’ 340 acres. Its holdings were worth about $65 million as of 2021.
The water district, which is a government entity funded by taxpayer dollars, is the local coordinator of the Panther Island project’s flood mitigation aspect. A water district official said that the district-owned land was acquired for public uses, such as for the bypass channel or the internal water canals planned for the development.
Who are the private landholders?
Several dozen private entities or individuals own chunks of land on the future islands.
The Star-Telegram found the largest private landowner to be Panther Acquisition Partners, which holds roughly 26 acres across more than two dozen parcels, valued at a collective $6.77 million.
The parcels are handled by developers Andrew Schatte and Mark Brock, who had placed most of the property for sale in 2021. But after the land attracted out-of-state interest, Brock said, the developers decided to reconsider the sale and are now looking for a partner to develop the land.
Other private individuals and entities own millions of dollars in future Panther Island real estate.
Read more about these landowners, and what the area could look like once developed, in the full Star-Telegram investigation, available exclusively to subscribers.
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This story was originally published February 4, 2022 at 1:44 PM.
