Firm hired to shape the vision for Fort Worth’s Panther Island entertainment district
The future Panther Island redevelopment along Trinity River reached a new milestone Tuesday, nearly one year after the project got a green light for federal funding.
The Fort Worth City Council approved bringing on HR&A Advisors as the real estate and economic development consultant for Panther Island. The firm will serve as the project manager and help shape the vision for the district between downtown and the Stockyards.
Conceived more than 20 years ago, Panther Island could become a waterfront entertainment district with restaurants, bars, shopping and apartments. The development would follow construction of bypass channels for Trinity River that will reduce risks of flooding. New bridges already span the future channels on North Henderson Street and White Settlement Road.
Work with the HR&A team will begin in the first quarter and should conclude by the end of the year, city partners say.
“The pieces are really coming together for Panther Island,” Fort Worth’s director of economic development, Robert Sturns, said in a statement. “Local partners and the business community are making a strong economic development push at the district, but we want to be smart about how we do it.”
The City Council voted to allocate up to $560,000 for the consulting services, with up to $435,000 coming from the city’s partners. Tarrant County is also providing up to $150,000 for an economic development study.
Panther Island project
A 1.5-mile channel will connect sections of the Clear and West Forks of the Trinity River north of downtown Fort Worth to create Panther Island, which will actually have two islands. As it was conceived more than 20 years ago, Panther Island is intended to be a highly dense, walkable district that supports 10,000 residents as well as retail and office space.
HR&A Advisors was selected by city partners who have taken a lead on the project, including Tarrant County, Tarrant Regional Water District, Tarrant County College, the Real Estate Council of Greater Fort Worth, Downtown Fort Worth Inc. and Streams and Valleys. The firm was chosen to issue consulting services and analysis on the future of Panther Island’s development.
The national firm has offices in Dallas, New York, Atlanta, Los Angeles, Raleigh and Washington D.C. Previous HR&A projects include Dallas’ Klyde Warren Park and other waterfront projects like Washington D.C.’s Anacostia River, the University of Texas research campus, Houston’s Buffalo Bayou and the Ion Innovation District near Rice University.
Back in October, the city released a request for proposals for a real estate consultant in hopes of finding a firm with waterfront or special-case district development experience.
“The expertise and market knowledge that HR&A and their team will bring to the table over the next several months is critical to making sure that we have a complete picture of what’s possible for Panther Island,” Sturns said. “That way, we can make the most of this opportunity and ensure that it makes the kind of impact that has been envisioned for so many years.”
In addition to HR&A’s role as project manager and lead for economic development and real estate, the firm’s consulting team consists of Salcedo Group Inc., a Grand Prairie-based civil engineering firm; K Strategies, a Dallas-based outreach firm; and Lake Flato, a design and urban planning firm with offices in San Antonio and Austin.
HR&A was selected for its ability to address needs in economic development, real estate strategy, zoning analysis and public engagement. HR&A will evaluate the impact of development on surrounding districts including Fort Worth’s downtown and the Northside neighborhood, city partners say.
So what steps are up next?
HR&A will get to work shortly this year with an assessment of existing plans, regulations and conditions before transitioning to development strategies, governance and implementation. Stakeholder and community engagement will be an important part of the process, city partners say.
Panther Island is the economic development piece in a flood control project that spans back decades. Last year, the U.S. Army Corps of Engineers allocated $403 million in federal funding for the Central City Flood Control Project.
