Fort Worth will trade vintage charm for modern development, rezoning the Montgomery Street Antique Mall site to clear the way for a 12-story hotel and mixed-use project.
Fort Worth City Council greenlighted development of the 7.4-acre site at 2501 and 2601 Montgomery Street, Bisnow reported.
Dallas developer Phoenix Property Company and landowner Montgomery Corner LLC, an entity tied to American Land and Cattle and Luther King Capital Management, plan to replace the long-standing antique mall with a hotel, ground-floor retail and a separate multifamily building.
The plans also leave room for a brewery or distillery, though Phoenix told the city’s zoning commission last month that such uses aren’t currently in the works. The development is near Fort Worth’s Cultural District, just off Interstate 30.
The antique mall has been a fixture in the district for more than 30 years, drawing loyal patrons and housing the Secret Garden restaurant. News of the redevelopment sparked social media backlash, with some residents calling it a “terrible decision” that could displace locals and worsen traffic. No one spoke in opposition at the council’s zoning hearing, despite online pushback.
Council member Macy Hill noted that developers met with local stakeholders prior to the meeting and expressed optimism about the project’s potential to modernize the area.
Montgomery Street Antique Mall’s owners have yet to announce whether the business will relocate or close.
Phoenix is also working with the Texas Department of Transportation to address concerns about traffic flow and access at the nearby intersection of Montgomery Street and I-30.
The project is part of the redevelopment trend across Fort Worth. The council rezoned more than 83 acres along Montgomery Street for intensive commercial use, and downtown plans are progressing, including more than $2 billion in future projects and reimagining Panther Island as a waterfront district.
— Judah Duke
READ MORE LINKS:
Read more
Georgetown Cos’ retail spree grabs Whole Foods-anchored asset
Crescent names Conrad Suszynski sole CEO amid development push
How Fort Worth is enabling dense development at Panther Island
