The Central Library building in downtown Fort Worth could soon be replaced with a two-tower development.
Dallas-based Dart Interests plans to redevelop the property at 500 West Third Street, which it recently bought from the City of Fort Worth, the Dallas Business Journal reported. While the developer hasn’t made any official plans for the site, Dart did say a two-tower design would likely make the most sense.
“There’s been a lot of national attention investing in Dallas and Frisco and Plano, but we think that the momentum has started to swing toward Fort Worth and maybe the national folks haven’t quite figured that out yet,” Christopher Kelsey, president of Dart Interests, told the outlet.
Located in Sundance Square, the library building sits on more than two acres in the city’s central business district. The property is zoned for office and residential uses, and the developer could do either or both, Kelsey said.
“The property would allow us to build two towers,” Kelsey told the outlet. “For us, the question is figuring out what the program for each of those towers would be.”
Dart said it plans to work closely with the Fort Worth Economic Development department, which has expressed interest in an office tower development to draw corporate relocations.
“We’re particularly enamored with Fort Worth,” Kelsey told the outlet. “We think it’s a great opportunity in general.”
The project will be the first in North Texas for Dart, a single-source, family-backed real estate investment and development firm with capital provided by billionaire Kenneth Dart, a member of the family that owns Dart Container Corp., the company that makes and sells the well-known Solo Cup.
Dart has multiple projects under way, including the Evermore Orlando Resort near Walt Disney World. The massive, $700 million project will include 10,000 bedrooms.
— Victoria Pruitt
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