FORT WORTH – Transwestern Development Co. of Houston will build a 385-unit multifamily community in the new Waterside mixed-use development in Fort Worth.
The Waterside development is billed as a sustainable cutting-edge development with principles of being a “Conscious Place” project, according to Waterside developer Terry Montesi, CEO of Fort Worth-based Trademark Property Co.
Construction work will begin this month on the 63-acre Waterside, which will have 200,000 square feet of retail, 200,000 square feet of office, a signature hotel and 20 acres of residential. Fort Worth’s first Whole Foods Market will be built there near Transwestern’s apartments.
The site is six miles southwest of downtown Fort Worth, near Bryant Irving Road, on the banks of the Trinity River.
Trademark Property, in partnership with Sarofim Realty Advisors of Dallas, recently purchased the land. Transwestern Principals Kirk Kelly, Jack Huff and Kyle Poulson negotiated the sale of the 63-acre tract on behalf of the seller, Corporate Employees Recreation Association, formerly the Lockheed Martin Recreation Association.
For the multifamily development, Transwestern Development Co. with its partner, Crow Family Holdings, then acquired five acres for The Grove at Waterside from Trademark Property. A construction loan for the project is provided by JPMorgan Chase.
“Transwestern is excited to be a part of this well-planned, mixed-use development in Fort Worth,” said Mark Culwell, managing director at Transwestern Development Co. “As one of the top 10 apartment markets in the country, according to Axiometrics, we are confident this community will be highly sought-after by young professionals in the Fort Worth area. The Waterside development brings together everything millennials look for in a live/work/play environment.”
The apartment development will take advantage of Waterside’s walkable retail amenities and the scenic location along the Trinity River. The average apartment home will be 890 square feet and feature high-quality interior finishes and Class A amenities. The two residential buildings will be four and five stories, and will include private garages and a structured parking garage.
Trademark has developed a number of mixed-use projects around the nation, including the notable Market Street mixed-use development in The Woodlands.
Upon completion, Waterside will be a walkable district with dynamic shopping, leisure activities, offices, hotel and residential living situated along the Trinity River. The amenity package includes a new extension of the Trinity Trails, which consists of a trailhead with a bicycle repair and air station, chilled filtered water for re-fillable bottles, an internal trail system, a signature bridge, canoeing, paddle boarding, kayaking, urban garden, and a riverfront amphitheater.
Trademark hosted over 15 community engagement meetings to gather input on architecture, amenities and more to ensure that the project is customized to meet the needs and aspirations of the local community. Phase I is slated to open spring 2016.
Inspired by Trademark’s involvement with Conscious Capitalism Inc., “Conscious Place” is a next-generation, sustainable development model being implemented at Waterside in partnership with Whole Foods Market as a place of commerce, community and meaning. It is designed to engage guests and bring people together by educating, inspiring, hosting and raising awareness in a natural and inviting environment and will offer everything from pet parks, urban gardens to solar power charging stations and ‘information stations’ with interactive displays.
“We have a vision of what this landmark site and its river frontage can become and how it will tie directly to our new ‘Conscious Place’ initiative,” said Trademark CEO Terry Montesi. “We are creating a district that reminds us about the importance of healthy living, sustainability, and connecting with and being involved in the community. This is the best opportunity ever to live out our purpose statement ‘to be extraordinary stewards, enhance communities and enrich lives’ and partner with a world class, purpose-driven retailer like Whole Foods Market.”
One of Waterside’s best examples of “Conscious Place” will be the district’s vibrant public space, The Grove. It is an area being designed around several heritage trees and will include local micro-restaurants, multiple outdoor seating venues, public art, gathering spaces, a community pavilion, a community promotion shed, and play areas for both children and adults.
Trademark has partnered with San Francisco-based Field Paoli as lead architect and Denver-based Stantec Vibe in charge of placemaking, environmental graphics and landscape. Additionally, Ft. Worth based Kimley Horn & Associates will lead the civil engineering efforts with EMJ Construction building the project.