Fort Worth Provides $125M Incentive, Unlocking 37 Acres of Prime Real Estate for Westside Village Development
As of their June 24th meeting, the Fort Worth City Council unanimously greenlit a $125 million incentive package to kick off Westside Village, a $1.7 billion mixed-use transformation on 37 acres of underutilized land. Included in this development from Dallas-based developer Larkspur Capital will be 1,800 apartments, 880,000 SF of Class AA office, 238,000 SF of retail, a 175-room hotel, and mass timber construction (a more environmentally friendly building technique), all rolling out in phases through 2035.
Fort Worth’s Westside neighborhood has already seen a wave of revitalization—from the Cultural District to West 7th—drawing more housing, shops, and activity west of downtown. Now, the $125 million incentives package aims to accelerate that momentum transforming underused car lots and vacant buildings into a walkable, amenity-rich district.
How This Shapes Fort Worth’s Community & Valuations
A community energized: New public spaces, housing choices, and commercial options will enhance local quality of life, attract residents and businesses, and bolster city tax revenues.
Amenities that boost appeal: Office, retail, and hospitality tenants now gain access to a vibrant, walkable environment—with better connectivity and flood protection. That makes the area more attractive to both users and investors.
What It Means for Commercial Appraisal in the Area
Mixed-Use Complexity
Appraisals must combine distinct income streams—residential rent-up, office and retail leasing, hotel performance—into one cohesive commercial real estate appraisal.
Incentive Valuation
With public funding supporting infrastructure, flood control, and transit, appraisers need to isolate and quantify how much those incentives increase net operating income and reduce developer risk across the board.
New Market Benchmarks
Nearly 880,000 SF of new Class AA office—the city’s single largest office addition in 40 years—will reset comparables and compress cap rates. Timely monitoring of lease and sale activity is essential
Bottom Line
This is more than bricks and mortar—it’s a transformational moment for Fort Worth. Valuations here will need to account for phased delivery, incentive impact, and the ripple effects of a walkable, mixed-use district.
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