Chances are, you might be accustomed to actual property developer Hillwood’s paintings.
The corporate is at the back of the AllianceTexas development in North Fort Worth, a 27,000-acre mixed-use development.
Hillwood, a Perot corporate, was once additionally at the back of Victory in Dallas, the development anchored by way of the American Airlines Center.
Now, they personal an entire town block of Downtown Fort Worth.
The parcel, which Oncor owned, is bounded by way of sixth and seventh Streets to the north and south and Calhoun and Jones Streets to the east and west.
“The purchase of the Oncor property reinforces our belief in Fort Worth and the evolution of downtown, further demonstrating our intent to grow our investments throughout the city,” stated Mike Berry, president of Hillwood, in a press unencumber. “Downtown Fort Worth is playing a vital role in the city’s growth and success, and we want to help drive its economic development far into the future.”
The corporate stated its new assets sits in a “rapidly growing downtown southern corridor,” subsequent to the brand new Texas A&M Fort Worth campus that broke flooring in June, the increasing Fort Worth Convention Center, the Omni Hotel set to upload a brand new tower, and new Deco 969 luxurious residences set to open on the finish of the yr.
“This assets that Hillwood has bought is true in the course of all of that development. And so, truly well-situated to make the most of a few of that explosive enlargement round them,” stated Robert Allen, CEO of the Fort Worth Economic Development Partnership.
“We’re excited to be in the course of a bustling, energetic, core downtown now,” echoed Hillwood Senior Vice President Steve Aldrich.
He stated the expansion was once one of the “intriguing” components of the valuables.
“In the center of downtown, there’s properly over one billion bucks’ price of funding that’s taking place simply inside the hall at the east aspect of downtown,” Aldrich stated.
He stated the corporate remains to be deciding what the valuables will appear to be.
“Office, circle of relatives, mixed-use, and hospitality are most probably those that we’re taking into consideration essentially the most,” he stated.
The newest development within the works brings any other spice up to the realm, stated Allen.
“This simply takes it to any other degree,” he stated.
He stated the corporate already has a just right observe document with their Alliance assets.
“I’m simply excited now we have an excellent steward coming on-line who is aware of our group properly, that we will paintings with and spouse with to upload a brand new, colourful piece of our downtown,” Allen stated.
[/gpt3]