Larkspur, Keystone plotting 35-acre mixed-use project in Fort Worth

Will include retail, restaurants, entertainment and residences

Larkspur, Keystone Plotting Mixed-Use Project In Fort Worth
Larkspur's Carl Anderson IV and Keystone Group’s Robert Bass (Larkspur, Middlesex, Getty)

Larkspur Capital and Keystone Group are diving into Fort Worth’s booming real estate market with a planned mixed-use development.

The joint venture is plotting a 1.4 million-square-foot project, spanning 35 acres just west of downtown and near Fort Worth’s Cultural District, the Dallas Morning News reported

Exact details of the project are unclear, but it’s set to include a mix of retail, restaurants, entertainment, offices, hospitality, residences and green spaces. The development site is near the intersection of University Drive and White Settlement Road, not far from the West Fork of the Trinity River.

“We look forward to sharing our vision for this dynamic mixed-use district in what has historically been a largely industrial area in the coming months,” Larkspur president Carl Anderson told the outlet. “This development will result in an iconic asset that we hope will serve as the premier destination for area residents and visitors alike.”

While plans are in motion, the developers have started clearing the site and plan to present detailed proposals to the city by early next year. The property encompasses former Fort Worth school district buildings.

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Keystone Group, led by Fort Worth businessman Robert Bass, has invested in sectors such as energy, manufacturing and real estate.

In addition to the Fort Worth project, Larkspur is working on several residential developments in Dallas, including a 190-unit rental community near Deep Ellum, an apartment complex near Fair Park and a single-family rental community in West Dallas near Interstate 30.

Fort Worth’s real estate market is bursting at the seams. As of June, roughly $2.3 billion worth of developments were under construction or in the pipeline in Cowtown. Fort Worth’s population has risen 4.1 percent since 2020 to about one million, marking the sharpest increase among the 30 most populous U.S Cities. 

—Quinn Donoghue 

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