An artist's rendering of The Van Zandt.
The Fort Worth City Council on Tuesday approved an incentive agreement that will provide almost $31 million to a Nebraska firm planning to construct two mixed-used developments in the West Seventh corridor.
The Van Zandt, with 105,000 square feet of office and retail space, along with apartments, will be constructed at 2816 W. Seventh St., where it intersects with Foch Street. One University, at University Drive and Morton Street, will comprise 110,000 square feet of office and retail space, as well as apartments and a hotel.
Total combined cost of the two will be in the neighborhood of $400 million.
Goldenrod Services LLC of Omaha is the developer.
The two sites combined will comprise of at least three structures of a minimum eight stories, according to city officials.
An artist's rendering of One University.
Goldenrod is betting on Fort Worth. When the company announced its plans for The Van Zandt, officials said that more than 70 corporations were considering a relocation to Fort Worth. That translates into needing more “superior office 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,” Brandon Schubert, director of investments at Goldenrod said at the time. “We believe The Van Zandt project will continue the transformation of the West Seventh District into a unique live, work, and play environment.”
The name of The Van Zandt development is reference to an important part and person in 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 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 project also looks to be part reform of the corridor, which has been negatively impacted by nightlife in recent years.
As part of the deal, the developer has committed to not leasing any retail space to a bar or nightclub.