It’s had a few false starts, but the developer chosen by the City of Fort Worth to construct the Evans and Rosedale project is moving ahead on the mixed-use project that will include affordable housing, restaurants, a grocery store, a fitness center and a retail center. The Dallas Business Journal reports the town selected Royal Capital Group to spearhead the project, and now it’s hoping to capture a $20 million incentive package from the city. The developer is committing to a $61 million investment in the area.
The funds for Royal Capital would go toward streetscape improvements and infrastructure such as storm drainage, water, sewers and utilities.
The Fort Worth Local Development Corp. and Fort Worth Housing Finance Corp. approved the sale of land, which totals about $4.24 million. Royal Capital has also applied for $2.5 million in city grant funding. If Royal meets requirements, such as completing the project, the Fort Worth City Council is expected to vote on additional incentives, including a Chapter 380 grant for up to $6 million.
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