FORT WORTH, Texas — A new developer is poised to take the reigns of a long-delayed revitalization project in one of Fort Worth's most historic neighborhoods.
The Evans & Rosedale redevelopment project is a decades-old plan to restore Fort Worth's Historic Southside neighborhood by adding new housing and commercial spaces. The Historic Southside has a rich history as a haven for Black entrepreneurs, but in recent years the area has become devoid of commercial development and investment, community leaders say.
In April, Fort Worth ended its contract with the project's developer, Hoque Global, after it failed to meet several deadlines and faced "unacceptable delays," the city said in a statement to WFAA. The announcement that the long-delayed project had yet again hit a snag left community members feeling "depressed."
"It stung a little bit just because this development would’ve set the tone for everything else that we would like to come," James Walker, the president of the Historic Southside Neighborhood Association, previously told WFAA. "The fact that we have to start over and try to find that anchor again is a little depressing."
Now, the city announced Royal Capital, an urban development firm based in Milwaukee, will take over the contract. Royal Capital's task will be to construct a walkable development with residential and commercial buildings with tenants that match the needs of the community, namely a grocery store and restaurants.
Fort Worth has set aside $19.7 million in land, grants and payments from the Southside tax increment financing district to aid a developer willing and able to take on the project.
After canceling its contract with Hoque Global in April, the city looked for developers interested in leading the redevelopment of 7 acres of city-owned land, according to an informal report released by city staff.
Eleven interested developers were evaluated by a selection committee based on their proposed design, community engagement experience, alignment with previous plans, qualifications and prior experience with financing and building a mixed-use project.
"I’m excited to work with community members, together with Royal Capital Group, on this redevelopment," Fort Worth City Council Member Chris Nettles, who represents the area, said in a City of Fort Worth press release. "I look forward to making sure the redevelopment efforts at Evans & Rosedale are focused on needed economic revitalization that honors the legacy of the area.”
Royal Capital has experience with securing financing for projects, developing partnerships and has experience working in historic neighborhoods, according to the release.
The developer will spend the rest of the calendar year on community engagement and defining the final development deal, according to the informal report.
The Historic Southside is also the future home of the proposed Juneteenth Museum.
