FW Exploring Incentives for 300-Unit Apartment Project

As part of the next phase of WestBend (photo), Trademark Property Co. wants to build a seven-story mid-rise with 300 apartment units and 4,500 square feet of commercial space facing University Drive in west Fort Worth. But first, the company wants Fort Worth to come up with millions of dollars in grant money.

The Dallas Business Journal reports Trademark will develop a minimum of 265,000 square feet and invest $81.6 million into the new site, which is on the Clear Fork of the Trinity River. In exchange, the city is proposing to give Trademark a minimum of about $3 million across 10 grants from 2029 through 2038, depending on whether the company meets certain requirements. Those requirements include building a development with a minimum of $65.3 million in taxable value, a reasonable effort to install a retail/neighborhood market in a space that used to be a grocery store and completing construction by July 31, 2028.

Fort Worth City Council is scheduled to vote Aug. 27.