search

The Real Deal Logo

Trending

It’s not just Arbor: Syndicator lender Ready Capital chokes on past-due debtIt’s not just Arbor: Syndicator lender Ready Capital chokes on past-due debtThere will be blood: Lenders warn of bank failures at TRD forumThere will be blood: Lenders warn of bank failures at TRD forumPinnacle Bank buys back Fort Worth office tower for $12 per sf Pinnacle Bank buys back Fort Worth office tower for $12 per sf David Bistricer lands another $430M for Greenpoint developmentDavid Bistricer lands another $430M for Greenpoint development
Commercial
Fort Worth

Goldenrod moves forward with $400M mixed-use project in Fort Worth

10-story residential tower coming to the Cultural District

Goldenrod to Start $400M Mixed-Use Project in Fort Worth
Goldenrod's Zach Wieger with rendering of One University (Goldenrod)

A Nebraska developer is moving forward with plans for a $400 million mixed-use project in Fort Worth’s Cultural District. 

Goldenrod Companies plans to start construction on the residential and retail portions of One University, at 1001 University Drive, in March, according to a filing with the Texas Department of Licensing and Regulation.

The 10-story One University will have 240 apartments, plus 10,000-square-feet of retail space on the first floor, according to Goldenrod’s website. This portion of the project will span nearly 300,000 square feet and is expected to cost $73 million. That’s about $243 per square foot, or about $287,000 per apartment unit. 

When fully built out, One University will also include 120,000 square feet of office space, 12,000 square feet of retail and a 171-key Autograph Collection by Marriott hotel, the Dallas Business Journal reported.

Sign Up for the undefined Newsletter

It is the first of two upcoming Goldenrod projects in the Cultural District. The firm is also developing the Van Zandt, a 250,000-square-foot mixed use development at 2816 West Seventh Street. The Van Zandt will feature 226 apartments, 95,000 square feet of office and 10,000 square feet of retail, according to Goldenrod’s website.

Goldenrod received an incentives package, worth up to $31 million, from the Fort Worth City Council in October. The agreement, tied to One University and the Van Zandt, requires Goldenrod to prioritize leases for corporate relocations from outside of the region. Goldenrod also agreed not to lease its retail space to a freestanding nightclub or bar for the 15 year term of the agreement.

Goldenrod Companies was formed by former NFL football player Zach Wiegert in 2005. In 2016, he started Goldenrod Capital Advisors. Wiegert has been at the helm of $3 billion in commercial real estate acquisitions and development. 

Read more

Tags
Fort WorthGoldenrod CompaniesMixed-useMultifamilyTexas