Southwestern Baptist Theological Seminary hopes the sale will improve the quality of its housing as well as the university’s finances.
Joyce Marshall
Star-Telegram/Joyce Marshall
Students living across the street from Southwestern Baptist Theological Seminary are getting a new landlord.
The seminary sold its 376 unit apartment and townhome complex to Fort Worth-based developer Bellrock Real Estate Partners, according to the seminary and a press release.
While the specific sale price wasn’t disclosed, the Seminary framed it as part of a larger plan to improve its finances.
The sale and other moves by the university since 2022 have helped it wipe out its debts and build a roughly $20 million cash surplus, the seminary said in an announcement.
The seminary sold an 140-unit complex to the city of Fort Worth in 2023 for $11 million. The city then sold that property, at the corner of West Drew Street and McCart Avenue, to a nonprofit managing the city’s first community land trust.
These units will stay student housing with Bellrock committing to making “a significant capital investment,” according to the seminary.
“Our goal is to invest responsibly, improve the quality of life for residents, and position the property for long-term success while maintaining continuity for those who already call it home,” Bellrock co-founder Anthony Wonderly said in the seminary’s blog post.
Plans for updates to the property will take place in phases, Wonderly said in a video call with the Star-Telegram.
Bellrock will start by adding a new clubhouse and amenities like dog parks, a pool and pickelball courts, he said.
From there the company will branch out to develop a further 10 acres on the property into additional housing for the surrounding community.
Currently, the apartments and townhomes are about 70% leased with PhD and Masters students, Wonderly said, adding that the remaining 30% will be open to the broader public at rates that would still be affordable to the seminary’s student community.
“We don’t want to make it to where by the university selling the asset to us that we now out price their students so they can’t afford to live there,” he said.
There’s a need for quality, reasonably priced housing in the area surrounding the seminary, which is something Bellrock can provide, co-founder Jarrad Principe said in the same video call.
“We’re providing, we think, a win for the traditional renter in that area, a win hopefully for the seminary and the students that’ll have some enhancements to where they live, and a win for us in our business venture,” he said.
The sale was made with the goal of improving the student experience, seminary president David S. Dockery said.
“We pray that current and future students will benefit in the new year and in the years ahead. Our priority all along in this process has been to find ways to strengthen this aspect of student life,” Dockery said in the post on the seminary’s website.
This story was originally published February 23, 2026 at 1:36 PM.
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Harrison Mantas has covered Fort Worth city government, agencies and people since September 2021. He likes to live tweet city hall meetings, and help his fellow Fort Worthians figure out what’s going on.