Trademark Property Co. is planning to expand WestBend with a new seven-story mid-rise building, featuring 300 modern apartments and 4,500 square feet of commercial space facing University Drive in west Fort Worth. However, before moving forward with the project, Trademark is requesting that the city provide millions of dollars in grant money.
According to a report from the Dallas Business Journal, Trademark has committed to developing at least 265,000 square feet and investing $81.6 million into this prime location on the Clear Fork of Trinity River. In return for their investment and development efforts by July 31st ,2028,the city has proposed granting them approximately $3 million over ten years (from 2029 through2038) if certain conditions are met. These conditions include creating a development valued at no less than $65.3 million for tax purposes and making an effort to incorporate retail or neighborhood market space where there was once a grocery store.
The Fort Worth City Council will vote on this proposal during their meeting on August27th . This potential partnership between Trademark Property Co.andthe city could bring exciting growth opportunities for both parties involved.
