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Texas

Look:Dart Interests’ towers in Fort Worth 

Dallas firm bought the Central Library for $18M, and this is how redevelopment could look

Dart Interests' Christoper Kelsey with rendering of the mixed-use project at the Fort Worth Central Library building
Dart Interests' Christoper Kelsey with rendering of the mixed-use project at the Fort Worth Central Library building (Dart Interests)

Now we know how redevelopment could grace Downtown Fort Worth’s skyline, following the city’s sale of the Central Library. 

Dallas-based Dart Interests acquired the library building located at 500 West Third Street late last year from the city for $18 million in a deal brokered by JLL’s Todd Burnette and David Berzina. Plans include a mixed-use development, potentially with multiple 20-story towers, according to a JLL news release. The property sits on 2.4 acres, and the current building spans three floors and 250,000 square feet.

The deal set a new benchmark for Downtown Fort Worth commercial land sales, Berzina said.

Fort Worth’s Economic Development department had expressed interest in an office tower development to draw corporate relocations. But it was not immediately clear what percentages of the project will be residential and commercial. The property sold in February, but these are the first renderings we’ve seen. 

Dart Interests didn’t immediately respond to a request for comment. 

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The library sits in Sundance Square in Fort Worth’s central business district. The property is zoned for office and residential uses. 

“The property would allow us to build two towers,” Dart Interests President Christopher Kelsey told the Dallas Business Journal. “We’re particularly enamored with Fort Worth. We think it’s a great opportunity in general.”

Dart Interests has over a billion dollars invested in real estate across seven states, but the Fort Worth project is the company’s first investment in North Texas. 

The project is a welcome reprieve in the city that is currently undergoing a slump in development activity due to down market conditions. 

As of May, developers have taken out nearly 4,600 building permits in Fort Worth. That’s down 19 percent compared to the first four months of 2022, according to a City of Fort Worth development activity report. The sharpest drop came from the multifamily sector, which saw an 82 percent decrease in issued permits since last year.

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Christoper Kelsey