Fort Worth Stockyards Developer Exits Ahead of Expansion

A central figure behind the Fort Worth Stockyards’ modern redevelopment is out as the project moves forward with a $1 billion expansion.

Craig Cavileer, the longtime Texas face of California-based Majestic Realty Co.’s Stockyards ventures, has exited the project amid a lawsuit filed by his former employer, the Dallas Business Journal reported.

Cavileer, who helped develop the Mule Alley shopping district and the Hotel Drover in partnership with Hickman Cos. and M2G Ventures, was also positioned to lead the next phase of expansion: a 300,000-square-foot commercial build-out with 295 multifamily units and three hotels, backed by a $71.6 million city economic incentive deal.

Majestic sued Cavileer in December, alleging he failed to repay loans and breached his contract, seeking nearly $76 million plus interest.

Cavileer has denied the allegations, and a jury trial is scheduled for October 2026 in California. Neither side has commented publicly.

Meanwhile, Cavileer’s shares in Stockyards real estate — including the Hotel Drover, Hyatt Place Fort Worth and the Stockyards Hotel — are scheduled for auction on May 6. Other assets tied to Cavileer, including 157 acres of undeveloped land and industrial holdings like Majestic Silver Creek, which is partly leased to Google, are also being auctioned.

Majestic appointed Rick Kline II to take over leadership of its Stockyards operations. Kline, a former Cerberus Capital Management advisor and Castle & Cooke executive, will oversee day-to-day management and strategy in partnership with the Hickman family.

Despite Cavileer’s departure, the City of Fort Worth and Majestic said they don’t anticipate any impacts to Phase II of the Stockyards expansion, which is projected to be delivered by 2032.

Developers are required to spend at least $630 million under the city’s agreement, which forecasts $845 million in new net value to Fort Worth.

— Judah Duke