The West Seventh Street corridor will be getting taller and with additional options to live, work, and play.
Goldenrod Companies, a commercial real estate development and investment management firm, announced on Thursday a new mixed-use development in the Fort Worth business and entertainment district.
Officials will break ground on The Van Zandt at 2816 W. Seventh St. in the first quarter of 2022. The project, reportedly in the range of $83 million, will be at the northwest corner of Foch and West Seventh streets. It will include approximately 99,400-square feet of Class-AA office space, 147 multi-family units, and 11,600-square feet of street-facing retail and dining space.
“We are excited to be a part of the Fort Worth community and believe the city’s pro-business environment and robust population growth will continue to attract corporate users who see the benefits of living and working in the West Seventh District,” says Brandon Schubert, Director of Investments at Goldenrod, in a statement. “We believe The Van Zandt project will continue the transformation of the West Seventh District into a unique live, work, and play environment.”
Goldenrod has selected Stream Realty Partners, a national real estate services, development, and investment company, to provide office leasing services for The Van Zandt.
The announcement of The Van Zandt development comes on the heels of another high-profile project in the Cultural District. John Goff’s Crescent Real Estate in September broke ground on a $250 million development at the corner of Camp Bowie and Van Cliburn Way that will house the Crescent Fort Worth, a 200-room luxury hotel, in addition to 170,000-square feet of office space, a restaurant and a 170-unit luxury apartment complex.
More will almost certainly be on the way if the Fort Worth school district is able to sell the site where Billingsley Field House and Farrington Field now stand.
The name of the development is an allusion to Fort Worth history. Maj. K.M. Van Zandt was a banker in the late 19th and early 20th century Fort Worth. History recalls Van Zandt as a tireless civic leader who helped bring railroads and new business and industry to the city. He represented Tarrant County in the state Legislature and was a one-time gubernatorial candidate.
At one time, Van Zandt owned 600 acres between the Trinity River and what is now the Will Rogers Memorial Center, including the Farrington Field property. The Van Zandt Cottage is the only remaining building on the property he owned. Van Zandt constructed the first bridge that spans the Trinity River on Seventh Street. It was called the Van Zandt Bridge.
“The steep upward trajectory of Fort Worth’s population is outpacing new office deliveries,” says Chris Doggett, Executive Vice President at Stream Fort Worth. “The Van Zandt was born as a result of Goldenrod’s recognition of the demand for additional best-in-class office space in Fort Worth as the market continues to experience a flight to quality to retain existing talent and attract the best new talent. The Van Zandt will be located in arguably the best development site in Fort Worth, and we believe it will capture the attention of corporations that are considering relocating to the DFW market.”
Fort Worth is one of the fastest-growing cities in the nation. Since 2011, it has witnessed a 26% rise in population growth and climbed to the 12th-largest city in the U.S. From 2019-20, the city’s population grew 2.1%, the highest rate among large U.S. cities.
With the population booming, the city is preparing for a business boom. Goldenrod says more than 70 corporations are considering a relocation to Fort Worth. That translates into needing more "superior office space."
“The Fort Worth office market is poised for incredible growth,” says Dan Harris, Stream’s National Managing Director for Office Tenant Representation. “The city has emerged as a realistic option for some of our larger clients who are looking to expand their operations or relocate to the Metroplex. We have seen the demand for more projects like The Van Zandt come to market. With the delivery of additional Class-A office developments, Fort Worth will become a major contender for corporate relocations and has the opportunity to be the next area in DFW to experience an explosion in office development.”
Stream’s Doggett and Cullen Donohue will oversee office leasing for The Van Zandt.