Nebraska-based Goldenrod Companies put shovels in the dirt last week on one of two major projects in Fort Worth, after months of development agreement back-and-forths and infrastructure timeline issues.
Goldenrod and general contractor OLINE Construction held a ceremonial groundbreaking for the Van Zandt, a mixed-use highrise at 2816 West Seventh Street. The eight-story project will include 226 apartments, 100,000 square feet of office space and 13,000 square feet of retail, the Dallas Business Journal reported.
As part of its $400 million investment in Fort Worth’s Cultural District, the company also plans to start construction soon on One University, at 3001 Morton Street, which will include 115,000 square feet of offices, 242 apartments and a 176-key Autograph Collection hotel called The Tycoon.
Zach Wiegert, managing principal at Goldenrod, said One University could start about four months behind the Van Zandt. Construction on the Van Zandt should take about 20 months.
Fort Worth City Council could provide grants up to $11.17 million for the Van Zandt and up to $19.65 million for One University. Goldenrod would have to complete the Van Zandt and obtain a certificate of occupancy by the end of 2026 and do the same for One University by the end of 2027 as part of the deal.
The projects are part of a wave of investments coming online in Fort Worth that will amount to more than 400,000 square feet of office space. JP Morgan Chase will anchor a second building in the works at Crescent Fort Worth, and Larkspur Capital and Keystone Group plan to begin construction on the first phase of an estimated $1.7 billion mixed-use development beginning next year.
Fort Worth Mayor Mattie Parker said companies like Goldenrod are needed to reinvest in class A offices in the corridor to reinvigorate it. Wiegert said financial sector companies have expressed interest in the Van Zandt, and that he expects to make tenant announcements in the coming months.
— Eric Weilbacher
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