by Late last week, firm executives revealed that work on the eight-story, mixed-use Van Zandt building at the northwest intersection of West 7th and Foch streets would start in August.
Oline Construction was selected as the general contractor by Goldenrod Companies, based in Omaha, Nebraska. The project will have 13,000 square feet of retail space, 226 apartments, and 100,000 square feet of upscale office space.
Zach Wiegert, managing principle of Goldenrod Companies, stated in a statement, “We are thrilled to have Oline Construction as our general contractor for the Van Zandt.” It is essential to have a general contractor who is aware of the special opportunities and difficulties associated with developing in an established urban setting, and Oline brings this knowledge to the table.
Another local project, One University, is being planned by Goldenrod and will be located across from the Fort Worth Modern Art Museum on the 3000 block of Morton Street.
240 new multifamily units, 10,000 square feet of retail space, 100,000 square feet of Class AA office space, and a 175-room hotel are all part of that $255 million project.
The Van Zandt project, worth $145 million, is named for the family whose ancient ranchland comprises a large portion of the region.
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New Class A office facility of 95,000 square feet
An additional 10,000 square feet of shop space
226 brand-new multifamily buildings
Holland Basham is the architect.
An estimated $400 million will be spent on both projects combined. More than $39 million in new tax income is anticipated as a result of them.
Up to $30.8 million in economic incentives for the projects were approved by the city of Fort Worth. To be eligible for the incentives, One University must be finished by 2027 and the Van Zandt by the end of 2026. According to the agreement, Goldenrod committed to paying at least $300 million of the total for hard construction expenses.
As part of the agreement, Goldenrod would turn over the parking garages to the city after construction was completed. Officials from Goldenrod claimed they will establish office leasing policies that encourage tenants to move from outside the area.
JLL will oversee leasing for both developments.
Senior vice president Geoff Shelton of JLL stated that the demand for contemporary office space with upscale amenities, like those envisioned for the Van Zandt, is still rising faster than both the supply and the anticipated deliveries.
According to him, the Van Zandt offers companies wishing to reserve a prime position in the center of Fort Worth a timely and alluring chance. Larger corporate customers wishing to upgrade or move into the submarket can also be accommodated by the asset, which has been carefully built to meet the demands of long-standing tenants in the market.
Following the shovel turning in April at Fort Worth billionaire businessman John Goff’s upscale office complex in the Cultural District that is building a second tower, the Van Zandt is set to open. When the eight-story office building opens, perhaps by the end of 2026, it will provide 170,000 square feet of Class AA office space.
Officials from Goldenrod have not disclosed the start date of the company’s One University project.
Wiegert, a former professional football player who played for the Houston Texans, Jacksonville Jaguars, and St. Louis Rams from 1995 to 2006, launched Goldenrod in 2005.
The Fort Worth Report’s business editor is Bob Francis. He can be reached by email at [email protected] on news at the Fort Worth Report are decided without consulting our board members or sponsors. Find out more about our policy on editorial independence here.
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