Fort Worth picks a new developer for a long-delayed redevelopment in Historic Southside

The city of Fort Worth has selected a new master developer for the Evans and Rosedale redevelopment project in Historic Southside.

Milwaukee-based Royal Capital has been chosen to develop the urban village. The company will be finalizing its plans for the project through the end of the year.

“With this opportunity to collaborate with the City of Fort Worth and the Historic Southside as the master developer for the Evans & Rosedale opportunity, we believe our core principles of candid-thoughtful-agile will lead to a vibrant place-based community investment that will become a leading destination for live-work-play for many years to come,” Royal Capital CEO and founder Kevin Newell said in a statement.

The development is slated for a 6-acre site owned by the city, about five minutes from downtown.

The director of the city’s economic development department, Robert Sturns, said Royal Capital’s proposal stood out for many reasons. The company has experience working on similar developments in historically underserved communities, and has creatively financed previous projects. Sturns said Royal Capital visited Fort Worth to get a better understanding of the area even before the city’s request for submissions of interest was officially released.

“We were really impressed with Royal Capital’s demonstrated record of success on these types of projects,” Sturns said.

Royal Capital’s proposal was one of 11 the city received during a search for a new developer.

The redevelopment’s previous developer, Hoque Global, was fired by the city last year after failing to secure adequate financing for the project. The company had been hired to build a mixed-use development with 292 apartments and 15,000 square feet of commercial space, originally slated to be done by 2023.

The city set aside $13.2 million in grants in 2021 to help with construction of the Evans and Rosedale urban village. Roughly $4.2 million of those incentives came from the American Rescue Plan Act, and must be spent by the end of 2024.

Sturns said he understands community members’ irritation with the delays, and added that there was extra focus on the financial aspects of proposals this time around.

“I would just reiterate to the community that, you know, we understand their concerns, their frustrations about why it’s taken so long, and I think we’re dedicated to trying to get this right,” Sturns said.

City staff and representatives of the Historic Southside Neighborhood Association were on the project’s selection committee.

The city has attempted to revitalize the Historic Southside neighborhood for decades; over $30 million of public investment has been made in the area over the past 20 years. The neighborhood was the economic driver of Fort Worth’s Black community in the 1930s.

Historic Southside is situated between Interstate 35W and Riverside Drive, bordered by Vickery Boulevard at its north and East Rosedale Street at its south.

The Evans and Rosedale redevelopment has long been heralded as a catalyst for future development in the area. The National Juneteenth Museum will be built in Historic Southside. The museum has raised about $34 million of its $70 million fundraising goal.

“We hope this is one piece in a broadening expansion of economic development activity at Southeast Fort Worth,” Sturns said.

The city will be hosting a feedback session where community members can share their thoughts with the development team in late September. The meeting has yet to be scheduled.

A 2019 study by UT Southwestern found residents of the 76104 ZIP code have the lowest life expectancy in Texas— just 66.7 years.