Robert Bass’ Keystone Group and Dallas-based Larkspur Capital hope to secure $45 million in infrastructure funding from a public finance district for their $1.7 billion Westside Village development.
Fort Worth’s newly established Tax Increment Finance District No. 4, covering the Near West Side, will vote this week on whether to provide the money, the Dallas Business Journal reported. The 37‑acre mixed‑use project is designed to transform the area with 880,000 square feet of office space, 238,000 square feet of retail, 1,785 apartments and a 175‑key hotel.
The first phase of construction is expected to begin in early 2026 and finish by 2028. Fort Worth City Council already approved incentives in June, including a Chapter 380 grant and tax increment financing for FW Westside RE Investors, with grants spread over 15 years. The developers are now seeking additional support from the Near Westside TIF District.
In Texas, TIF financing leverages the increases in property value to fund infrastructure projects. Infrastructure at the Westside Village project will include roads, utilities and streetscaping.
To qualify for the incentives, developers must meet strict requirements. The first phase must involve at least $410 million in investment, with $311 million in hard construction costs spent by the end of 2030. Minimum build‑out requirements include 200,000 square feet of office space, 95,000 square feet of retail and a hotel with at least 150 rooms.
Westside Village is one of several megadevelopments in Fort Worth. The list includes Brown Ranch from Hines and Goldenrod Company’s Van Zandt project.
Bass, the billionaire nephew of late oilman Sid Richardson, has decades of experience developing houses and commercial buildings. His Keystone Group, named for the West Texas oil field where the family made its fortune, has holdings in securities, real estate, oil and gas.
Larkspur Capital’s current multifamily development projects include the 155-unit Victoria Row, 240-unit Santa Fe Trail Lofts and 190-unit The Willows, all in Dallas. Carl Anderson IV serves as the company’s president.
— Joel Russell
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