The plans for a 16-story tower were paused due to a change in broader market conditions, according to Trey McGhin, a principae at DMRE.<\/p>\n
\u201cOwnership has since elected to market the property for sale and is seeking a buyer who can capitalize on the site\u2019s unique location and long-term potential,\u201d McGhin said.<\/p>\n
The listing markets the property for a number of uses including apartments, offices, condos and a boutique hotel<\/a>.<\/p>\n \u201cOwnership is approaching the opportunity with an open mind and believes the site could support a variety of uses depending on market demand and a buyer\u2019s vision, McGhin said.<\/p>\n Allen Harrison Company\u2019s primary objective in selling the property is identifying a buyer with a compelling vision who can unlock the site\u2019s highest and best use, he said.<\/p>\n \u201cGiven the site\u2019s visibility and strategic location, ownership believes it represents a rare opportunity for developers, investors, and users seeking a meaningful presence in Fort Worth,\u201d he said.<\/p>\n The proposed apartment tower at the site is one of several projects along this section of Henderson Street<\/a> that failed to make the leap from renderings to reality.<\/p>\n There haven\u2019t been as many high rise proposals for downtown lately, which may be due to the lending environment, said Downtown Fort Worth Inc. President Andy Taft.<\/p>\n Most of the development downtown is seeing is coming in the form of hospitality and hotels, Taft said, adding that developers are using the 27-story Deco 969<\/a> as a gauge for whether to build more towers downtown.<\/p>\n The big projects getting developed downtown are the Fort Worth Convention Center and the build out of Texas A&M\u2019s Fort Worth campus, Taft said.<\/p>\n Those two projects might shake things up a bit, he said.<\/p>\n Harrison Mantas<\/a><\/p>\n Fort Worth Star-Telegram<\/p>\n 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\u2019s going on.\n <\/p>\n
\n
\n <\/a><\/p>\n