Fort Worth’s $1.7B Bet on a New Riverfront Neighborhood
Westside Village aims to transform 37 acres west of downtown into a walkable mixed-use district centered on the Trinity River.
In Partnership with:
Good morning. Larkspur Capital and Keystone Group are investing $1.7B to transform 37 acres west of downtown Fort Worth into a 3M SF mixed-use neighborhood. The project will center on the Trinity River, with riverfront businesses, pedestrian connections and a future kayak launch.
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Market Snapshot
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Riverfront Bet
Fort Worth’s $1.7B Westside Village Bets on the River
Photo courtesy of Larkspur
Larkspur Capital and Keystone Group are betting $1.7 billion on transforming an overlooked corridor west of downtown into a walkable riverfront neighborhood.
A 37-acre transformation: Westside Village will redevelop 37 acres near University Drive and Westside Drive, delivering roughly 3 million square feet of office, residential, hotel, retail and restaurant space across four phases. The project is expected to be fully completed by 2035, with Phase 1 opening by the end of 2030 and including a boutique office building and 319-unit residential building.
Designed around the public realm: Larkspur President Carl Anderson says the project is being designed as a true neighborhood rather than an office development surrounded by amenities. Streets, green spaces and connections to the Trinity River will shape the district, with walkability, shade and outdoor activity playing central roles.
A public-private partnership: Fort Worth is supporting the development with up to $80 million in performance-based grants over 15 years, plus a TIF district that can contribute up to $45 million toward infrastructure. Stormwater management is a major priority for the corridor. The development partnership includes Fort Worth-based Keystone Group, chaired by Robert Bass, and Larkspur Capital.
Making the Trinity a destination: Instead of treating the West Fork of the Trinity as the edge of the property, Larkspur plans to make it the neighborhood’s centerpiece. Pedestrian connections, a future kayak launch and river-oriented public spaces are intended to encourage residents and visitors to spend time along the water.
Early riverfront activity: Levee Porch, a new restaurant and beer garden, and Tailwaters Fly Fishing Co. are expected to open in Q1 2027. The concepts will cater to residents and office workers as well as cyclists, kayakers and other trail users, helping establish activity around the river before the larger development is complete.
Fort Worth’s urban evolution: Anderson believes the city has reached a point where demand is no longer the question. Population growth, corporate investment and expanding professional services are creating demand for higher-quality urban environments, while Fort Worth’s development-friendly civic environment provides additional confidence for long-term investment.
➥ THE TAKEAWAY
Building beyond buildings: Westside Village is a $1.7B bet that Fort Worth wants true mixed-use neighborhoods where people can live, work and play throughout the day. Larkspur’s ultimate measure of success: creating a place that feels less like a development and more like a natural part of the city.
Around Texas
➥ Federal authorities raided Cadence McShane offices across Texas amid allegations that the contractor overcharged the government and exceeded HUD profit limits on low-income housing projects.
➥ Four North Texas cities rank among the nation’s top 10 real estate markets, with Frisco and McKinney taking the No. 1 and No. 2 spots in WalletHub’s latest ranking.
➥ Texas’ new Business Court aims to give CRE stakeholders faster, more specialized dispute resolution while keeping complex commercial litigation and legal spending within the state.
➥ BGO and Alliance Industrial acquired a 266,152-square-foot distribution facility in Fort Worth, marking their latest bet on the DFW industrial market’s continued strength.
➥ Los Angeles-based Stockdale Capital Partners is opening its first Dallas office in Uptown as it eyes a larger space and further expansion across the growing Texas Triangle.
➥ Austin officials are considering a ban, development freeze or new land-use rules for large-scale data centers amid growing concerns over their rapid expansion and impact on the power grid.
➥ Houston-area master-planned community developers are turning to creative financing, including MUD-backed bonds, to fund infrastructure and meet surging housing demand despite tight capital markets.
Follow the Money
| MULTIFAMILYDALLAS Uptown Dallas rents rose 7% since late 2022 while metro rents fell roughly 8%, with the Katy Trail and other demand anchors helping the pocket outperform broader market trends. |
| DATA CENTERSFORT WORTH Fort Worth approves Black Mountain’s $10B data center campus after community pushback leads to a smaller footprint, added infrastructure and wider buffers from nearby homes. |
| OFFICEDALLAS Morgan Stanley is committing $1.3B to a new 708,000 SF Uptown campus, reinforcing Dallas’ rise as a major financial hub while bringing thousands of jobs and investment to the city. |
| INDUSTRIALFORT WORTH Carrier is weighing Fort Worth for a $433.8M manufacturing plant that could bring 495 jobs, with the city offering $13.4M in incentives to win the project. |
| OFFICEIRVING Caterpillar’s Irving headquarters expansion is expected to top $50M, adding about 114,000 SF as the industrial giant grows its North Texas operations and expands its local footprint. |
| RETAILMESQUITE Disney Investment Group brokered the sale of a 167,000 SF shopping center in Mesquite to Newport Capital Partners, which plans capital improvements following Kroger’s 10-year lease renewal. |
| ENTERTAINMENTMCKINNEY A $300M, 20,000-seat music venue in McKinney is taking shape and is expected to host its first concert in early 2027, marking a major new entertainment development for North Texas. |
📈 CHART OF THE WEEK
Texas led the nation with 165,600 annual jobs added in July, while New York, Houston, Los Angeles and Dallas topped RealPage’s metro job-gain rankings, pushing the top 10 markets to a combined 357,800 new jobs.
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