A proposed 16-story luxury apartment tower on the corner of West Seventh Street and Henderson Street won’t get off the ground.<\/p>\n
Instead, Houston-based developer Allen Harrison Company is selling the 1.16 acre parcel at 1000 W. Seventh St.<\/a>, according to a listing by Real Estate firm DMRE.<\/p>\n 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 “Ownership has since elected to market the property for sale and is seeking a buyer who can capitalize on the site’s unique location and long-term potential,” 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 “Ownership 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’s vision, McGhin said.<\/p>\n Allen Harrison Company’s primary objective in selling the property is identifying a buyer with a compelling vision who can unlock the site’s highest and best use, he said.<\/p>\n “Given the site’s visibility and strategic location, ownership believes it represents a rare opportunity for developers, investors, and users seeking a meaningful presence in Fort Worth,” 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’t 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