Larkspur Capital, Keystone Group Break Ground on $1.7B Westside Village Mixed Use in Fort Worth

Key Points

• $1.7B mixed use development breaks ground near Cultural District
• Plans include 880K SF office, 1,785 apartments, retail, and hotel
• Phase I delivers Class AA office + 308 luxury units by 2028

What the Project Scale Means for Long-Term Urban Density

Westside Village spans 37 acres at University Drive and Westside Drive on the edge of Fort Worth’s Cultural District. The master plan calls for 880,000 square feet of office, 238,000 square feet of retail, 1,785 residential units, and a luxury hotel. Full buildout is expected to take roughly 15 years, signaling a phased, capital-disciplined approach to density. Large mixed-use districts like this reshape land value by concentrating live-work-play demand into walkable nodes.

What the Development Team Means for Execution Strength

The project is led by Larkspur Capital with The Keystone Group as a development partner. Construction is being handled by Moss Construction, which began sitework in early February ahead of the formal groundbreaking. Institutional sponsors and experienced builders reduce execution risk on large, multi-cycle projects.

What Phase I Delivery Means for Near-Term Supply

The initial phase centers on a 100,000 square foot Class AA office building and a 308-unit luxury multifamily property, both targeted for delivery by 2028. The office component was designed by Michael Hsu Office of Architecture, which also led the master plan. Plans include destination amenities like a private social club, jazz venue, restaurant space, and underground parking. The apartment building, designed by Corgan, will include ground-floor retail and restaurant space, supporting walkability and rent premiums.

What Entertainment Additions Mean for Destination Appeal

Future phases may redevelop a former industrial structure into an entertainment hub known as The Shed. Plans call for covered event space and a large open-air patio designed to host gatherings and nightlife uses. Experiential anchors like this extend dwell time and support retail leasing.

What Office Market Conditions Mean for Leasing Risk

Dallas-Fort Worth office fundamentals remain mixed. Slower job growth and corporate consolidations are limiting new development activity. However, top-tier buildings continue to outperform. Market vacancy sits at 24.8%, modestly improved year over year, with 2.4 million square feet of annual absorption across a massive regional inventory. New Class AA product in prime districts tends to capture a disproportionate share of demand.

What This Means for Fort Worth Mixed-Use Investors

Sun Belt population growth continues to favor large-scale, amenitized districts over isolated single-use assets. With phased density, strong sponsorship, and a prime Cultural District location, Westside Village positions itself as a long-term value creation play tied to Fort Worth’s urban evolution.