The government’s version of pay-to-play involves offering incentive packages to companies or developers in order to encourage them to build major projects within a specific town. For Goldenrod Cos., Fort Worth has become an attractive option.
The City of Fort Worth is considering an incentive program for two projects by Goldenrod Cos. worth $400 million in mixed-use development. According to the Dallas Business Journal, the incentives amount to $30 million over 15 years. In exchange, Goldenrod will commit at least $300 million towards hard construction costs and allocate 15% of its construction budget towards minority, disadvantaged, and women-owned businesses.
Goldenrod’s plans include two developments totaling 195,000 square feet: The Van Zandt on West 7th Street with office space, retail space and multifamily units; and One University on Morton Street with office space, retail space , multifamily units ,and a hotel.
This post highlights Ft.Worth’s efforts in providing incentives for these two mixed-use projects without mentioning any specific organizations or locations involved.
