Goldenrod Cos. Launches $400M Fort Worth West Seventh Office-Residential Push While Larkspur-Keystone $1.7B Westside Village Secures HPI Leasing and Addison Junction $240M DART-Adjacent Mixed-Use Clears Council Approval

Hey, it's Kirstine, your Fort Worth commercial real estate decoder.

This week's data reveals Fort Worth West Seventh corridor attracting $400M+ Nebraska developer investment while Near Westside positions for largest office delivery in 43 years and North Texas transit-oriented developments leverage DART Silver Line infrastructure creating walkable mixed-use districts.

In today's newsletter:

Goldenrod Van Zandt + One University: Nebraska-based developer deploys $400M across two West Seventh/Morton Street projects featuring combined 215,000 SF offices, 468 apartments, 176-key Autograph Collection hotel (The Tycoon), and 13,000 SF retail with OLINE Construction general contractor selection, 20-month Van Zandt timeline targeting Dec. 31, 2026 certificate of occupancy, and $11.17M + $19.65M city grant incentives demonstrating financial sector tenant interest positioning corridor as "financial district, kind of like Uptown"

Westside Village Phase One: Larkspur Capital-Keystone Group $1.7B, 37-acre development advances with HPI Fort Worth office (Colt McCoy, Matt Montague, Jake Neal) securing leasing assignment for 100,000 SF Class AA office building with ground-floor retail, two restaurants, private social club, underground parking, plus 308-unit luxury residential at White Settlement Road/University Drive replacing Fort Worth ISD site, targeting early 2026 construction start and 2028 completion with $410M Phase One minimum investment requirement and $45M Near Westside TIF District funding

Addison Junction DART Development: Quadrant Investment Properties $240M, 14-acre mixed-use project receives Addison City Council development agreement approval featuring 155,000+ SF mass timber office, 140-room boutique hotel, 30,000 SF entertainment retail including Van Buren's Texas-themed beer garden, 12,000 SF aviation-inspired Hangar event venue adjacent Addison Circle Silver Line DART station with $40M municipal infrastructure investment leveraging $200M+ private capital creating $300M annual economic output and 1,600 permanent jobs targeting 2026 groundbreaking

Fort Worth Office Pipeline Context: West Seventh developments join Crescent Fort Worth second office building (JPMorgan Chase anchor) creating 400,000+ SF office pipeline while Westside Village 880,000 SF total office buildout represents Fort Worth's largest office delivery in 43 years demonstrating Class A absorption confidence despite national office market uncertainty

Nebraska-based Goldenrod Cos. initiates construction on Van Zandt featuring 100,000 SF offices, 226 apartments, 13,000 SF retail at 2800 West Seventh Street with OLINE Construction general contractor selection and 20-month completion timeline, while adjacent One University project at 3000 Morton Street adds 115,000 SF offices, 242 apartments, 176-key Autograph Collection hotel (The Tycoon) creating combined $400M investment with financial sector tenant interest and separated city incentive agreements totaling potential $30.82M grants. [Dallas Business Journal]

Van Zandt Components:

One University Components:

Developer Positioning:

Managing Principal Zach Wiegert introduced to Mayor Mattie Parker in 2021 by Hillwood's Mike Berry following Parker's election, discussing West Seventh corridor "time of transition" requiring Class A office reinvestment to "reinvigorate this area" while Goldenrod executives wore longhorn-branded company shirts celebrating Fort Worth Stockyards cultural connection.

Tenant Interest Profile:

Financial sector companies expressing "very excited" interest according to Wiegert, positioning West Seventh corridor as emerging "financial district, kind of like Uptown is in Dallas" with tenant announcements anticipated soon, suggesting pre-leasing momentum despite 2026-2027 delivery timeline extending beyond typical absorption windows.

Incentive Structure:

August 2024 Fort Worth City Council approval separating original unified incentives deal into two distinct agreements with performance-based grant disbursements contingent on certificate of occupancy deadlines, protecting municipal interests against speculative development delays while total potential $30.82M city investment supports $400M private capital deployment.

Expansion Intentions:

Wiegert confirming additional Fort Worth land holdings with plans for future "more projects around Cowtown" suggesting Goldenrod viewing West Seventh investments as initial market entry rather than isolated opportunistic development, indicating developer confidence in sustained Fort Worth commercial fundamentals supporting multi-phase deployment strategy.

Why It's Strategic: Goldenrod's $400M dual-project commitment, with separated incentive agreements requiring 2026 and 2027 certificate of occupancy deadlines, demonstrates Nebraska developer recognition that Fort Worth West Seventh corridor offers Class A office absorption potential rivaling Dallas Uptown, while financial sector tenant interest validates positioning despite national office market uncertainty.

The 20-month Van Zandt timeline with four-month gap before One University construction creates staggered delivery risk mitigation, while separated grant structures protect city interests against unified project failure scenarios. Mayor Parker's 2021 introduction by Hillwood's Mike Berry reveals institutional player endorsement influencing out-of-state capital allocation decisions, while Wiegert's additional land holdings signal multi-phase expansion intentions treating Fort Worth as primary market rather than Dallas overflow opportunity.

FW Westside RE Investors LLC partnership between Dallas-based Larkspur Capital and Robert Bass' Keystone Group announces early 2026 Phase One construction start targeting 2028 completion featuring 100,000 SF Class AA office with ground-floor retail, two restaurants, private social club, shared underground parking plus 308-unit luxury residential at White Settlement Road/University Drive replacing Fort Worth ISD site, while HPI's newly formed Fort Worth office led by Colt McCoy, Matt Montague, Jake Neal initiates pre-leasing for 37-acre development totaling 880,000 SF offices, 238,000 SF retail, 1,785 apartments, 175-key hotel at full buildout representing Fort Worth's largest office delivery in 43 years. [Dallas Business Journal]

Phase One Specifications:

Full Buildout Program:

Leasing Team Assignment:

HPI's Fort Worth office securing office leasing mandate with Colt McCoy leading team including Matt Montague (executive managing director) and Jake Neal, representing HPI's 2025 Fort Worth market entry validation while pre-leasing initiation before construction start demonstrates developer confidence in tenant absorption despite elongated delivery timeline.

Incentive Framework:

Late June 2025 Fort Worth City Council approval of Chapter 380 grant and tax increment financing package with grants distributed over 15-year period, plus developers seeking $45M from newly formed Near Westside Tax Increment Financing District shifting infrastructure costs to future property tax increments rather than immediate municipal budget impacts.

Design Team:

Michael Hsu Office of Architecture leading office building design with Corgan architect of record, while Corgan serving full-service architect for residential building, combining boutique design vision (Michael Hsu) with delivery execution capacity (Corgan) suggesting prestige positioning rather than commodity office product.

Delivery Requirements:

Phase One completion contingent on meeting minimum 200,000 SF office, 95,000 SF retail, 150-room hotel thresholds demonstrating city protections against partial delivery scenarios where office component might be abandoned if residential pre-leases successfully while commercial absorption lags projections.

Developer Statements:

Larkspur Capital VP Schafer Smartt emphasizing "distinctive office environment alongside thoughtfully designed residences" while HPI's Matt Montague citing "rare combination of prestige and convenience" with "ground-floor retail, restaurants and a private social club in a walkable, connected environment" positioning project as lifestyle-integrated workspace rather than isolated office tower.

Why It's Critical: Westside Village's $1.7B scale, with 880,000 SF total office representing Fort Worth's largest delivery in 43 years, demonstrates Larkspur Capital and Robert Bass' Keystone Group conviction that Near Westside corridor supports Manhattan-style density despite Fort Worth's historically suburban office patterns, while HPI's dedicated Fort Worth leasing team formation validates institutional broker confidence justifying market-specific infrastructure investment. The Phase One $410M minimum investment with $311M hard construction cost requirement protects city interests against speculative land banking, while parking garage construction priority ensures infrastructure capacity precedes occupancy similar to Gahanna Creekside sequencing sophistication. Michael Hsu Office of Architecture design leadership, combined with Corgan execution, signals prestige positioning targeting flight-to-quality tenants willing to pay premium rents for differentiated amenities, while private social club and underground parking create membership exclusivity contrasting commodity office commoditization trends.

Quadrant Investment Properties secures Addison City Council development agreement for $240M, 14-acre district including 155,000+ SF mass timber office, 140-room boutique hotel, 30,000 SF entertainment retail with Van Buren's Texas-themed beer garden, 12,000 SF aviation-inspired Hangar event venue adjacent Addison Circle Silver Line DART station with $40M municipal infrastructure investment in parking garages leveraging $200M+ private capital creating $300M estimated annual economic output and 1,600 permanent jobs targeting 2026 groundbreaking, replacing previously planned $472M Stream Realty-Amli Residential project as transit-oriented development strategy shifts from residential to commercial-entertainment focus. [Dallas Business Journal]

Project Components:

Municipal Investment:

Economic Impact Projections:

Development Timeline:

Market Shift Rationale:

Earlier concepts included residential development, but "changes in the market and development partnerships resulted in the plans focusing on commercial and entertainment uses" according to city officials, suggesting multifamily absorption concerns or partnership restructuring influenced program pivot from residential-dominated to commercial-entertainment emphasis.

Developer Positioning:

Quadrant founder and managing partner Chad Cook characterizing Addison Junction as "rare canvas to provide a destination pedestrian-oriented district that will bring together office, hospitality and entertainment on one of the last infill sites of scale in DFW" while Addison economic development director Wayne Emerson citing "innovative approach and focus on quality position Addison Junction as the center of gravity along the Tollway."

Transit Context:

DART Silver Line creating 26-mile commuter rail system linking Plano, Richardson/UT Dallas, Carrollton, Cypress Waters, Dallas, DFW International Airport with Addison station positioning northern city on regional connectivity network, while 1980s land assembly demonstrates multi-decade municipal planning horizon anticipating transit-oriented development opportunities.

Why It Matters: Addison Junction's $240M investment, replacing previously planned $472M Stream Realty-Amli Residential project, demonstrates municipal willingness to pivot from residential-dominated to commercial-entertainment programming when market conditions shift, while $40M city infrastructure investment in parking garages creates 5:1 private leverage ratio justifying public capital deployment. The mass timber office building specification signals sustainability positioning attracting ESG-focused tenants, while Silver Line DART adjacency enables car-optional workforce access contrasting typical North Texas auto-dependent office patterns. Quadrant's "last infill sites of scale in DFW" language reveals scarcity value around transit stations, while 1980s land assembly demonstrates Addison's four-decade planning sophistication creatingOptionValue through patient infrastructure positioning rather than reactive development approvals.

Commercial Real Estate Investors: Fort Worth West Seventh corridor attracting $400M Goldenrod investment with 215,000 SF combined offices validating financial district emergence, while Westside Village $1.7B development representing 43-year office delivery record demonstrates institutional conviction in Near Westside density potential, plus Addison Junction $240M transit-oriented project creating comparable investment framework around DART Silver Line stations supporting office-retail-hospitality mixed-use absorption.

Office Tenants: Goldenrod's financial sector pre-leasing interest and HPI's dedicated Fort Worth leasing team formation signal Class A office supply expansion with amenity-rich environments (private social clubs, ground-floor retail, underground parking) contrasting commodity suburban office, while Westside Village 2028 Phase One delivery and Van Zandt 2026 completion creating near-term occupancy options for companies seeking flight-to-quality relocations or expansions.

Municipal Leaders: Fort Worth deploying separated incentive agreements ($11.17M Van Zandt, $19.65M One University) with performance-based certificate of occupancy requirements protecting against speculative delays, while Westside Village TIF district and Addison's $40M infrastructure investment demonstrate municipal financing innovation leveraging private capital at 5:1+ ratios, plus transit-oriented development strategies (Silver Line adjacency) creating walkable density justifying parking garage investments.

Bottom line: This week demonstrates North Texas commercial real estate advancing large-scale mixed-use developments through institutional developer commitments (Larkspur-Keystone, Goldenrod) and municipal financing innovation (TIF districts, separated incentive agreements) while transit-oriented strategies (DART Silver Line) and corridor-specific positioning (West Seventh financial district) create differentiated office absorption narratives contrasting national market uncertainty.

Ready to position tenants in Fort Worth's emerging financial district or capitalize on transit-oriented development opportunities before Silver Line completion drives rent premiums? Let's connect you with our partners who understand both institutional developer timing cycles and municipal incentive negotiation frameworks supporting advantageous lease or acquisition terms.

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See you next week,
Kirstine