Fort Worth Restarts $70M Developer Search for Historic Southside Revitalization

The city of Fort Worth has reignited its search for a master developer for the Evans and Rosedale project, two months after severing ties with Hoque Global and its $70 million contract. Situated in the Historic Southside, the project aims to revitalize 36 parcels east of Interstate 35 and north of East Rosedale Street, a venture ongoing for over two decades.

Call for Interest

Potential developers are invited to submit letters of interest by April 22, as announced in a city press release. The city highlights the opportunity for an experienced mixed-use developer to work on a significant six-acre greenfield site, merely five minutes away from Downtown Fort Worth.

Investment and Vision

More than $30 million in public funds have been invested in the historically Black area, with a 2005 master plan envisioning a vibrant, walkable community featuring housing, commercial spaces, retail outlets, and community facilities. Additionally, substantial funds have been allocated for the development of a National Juneteenth Museum.

Past Challenges

The project has faced setbacks over the years, including disruptions during the Global Financial Crisis. In 2019, Hoque Global was awarded the project, but the contract was revoked in December 2023 due to failure to meet fundraising deadlines.

Commitment to Community

Fort Worth officials emphasize the importance of a development that respects the neighborhood's legacy. Economic Development Director Robert Sturns underscores the city's commitment to honoring the area's history of Black-owned businesses and ensuring that any new development complements the community.

Financial Considerations

The City Council set aside $4.2 million in American Rescue Plan Act funds for the project in 2021. However, these funds must be allocated by the year's end, potentially affecting the project's financing. The selection of a new master developer and subsequent construction timeline will determine if additional funding sources are needed.

Next Steps

City officials will review developer applications and conduct interviews with finalists in May. A new master developer is expected to be chosen promptly thereafter, marking a crucial step in the ongoing redevelopment efforts in Fort Worth.