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Steve Young
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Steve Young
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Steve Young
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Steve Young
New hotel mixed use project…
@FortWorthReport on Facebook and @FortWorthReport on Twitter.
New hotel, mixed-use project approved for Montgomery Street Antique Mall site
A new hotel and a related mixed-use development will be built on the site of the Montgomery Street Antique Mall.
Fort Worth City Council members approved the zoning case, among others, during their meeting March 11.
A 12-story hotel is planned at the bustling corner of Interstate 30 and Montgomery Street, south of Dickies Arena and west of the Fort Worth Botanic Garden in the Cultural District.
Council member Macy Hill said she is “really excited” about the project, planned on a 7.4-acre former industrial site that will be redeveloped with the hotel, retail shops and a stand-alone multifamily residential building.
Developers received rezoning approval for the property — addressed as 2501 and 2601 Montgomery St. — from the Fort Worth Zoning Commission during a Feb. 12 meeting.
The council approved rezoning the site from “J” medium industrial to “PD/G” planned development for all uses in “G” intensive commercial that would include commercial, multifamily, distillery/brewery and hotel uses. The development would include the mall site in addition to a vacant lot next door. A brewery is listed among the potential uses for the site, but the developer previously told zoning commissioners that there are no plans for that kind of operation.
A staff report said the project is compatible with the surrounding area and would be designated as a Cultural District Mixed-Use Growth Center.
Phoenix Property Co., which is developing the property, is talking with the Texas Department of Transportation about intersection improvements, a company representative told the zoning commission last month.
The designation request from owner Montgomery Corner LLC comes after the City Council approved a resolution Feb. 11 to rezone 83.7 acres of land mostly on the west side of Montgomery — a strip that includes churches, retail shops and midcentury industrial buildings — from industrial to intensive commercial use. Special permits could be granted to some existing businesses, such as nut distributor Vending Nut and bar Ye Olde Bull and Bush, to adhere to the new guidelines. Automotive shops would be banned.
No one spoke against the project at the council meeting, although hundreds of fans of the antiques mall decried its loss on social media. The Fort Worth Report’s Feb. 12 Facebook post on the development garnered about 1,200 reactions and 568 comments.
“As a Fort Worth resident, this is blasphemy,” Lindsey Sinopoli wrote. “I’m there weekly. It’s my favorite place in Fort Worth.”
Kelly White said it was “disheartening” to see the mall go.
“Fort Worth is redeveloping itself out of being Fort Worth,” she posted. “Soon it will look like any other place (in) DFW that has exchanged character for shiny and boring. We love the unique atmosphere of the Montgomery Street Antique Mall and the tea room inside. Hopefully, they will be able to relocate.”
Mall management has not announced a closing date or whether they will relocate.
Eric E. Garcia is a senior business reporter at the Fort Worth Report. Contact him at eric.garcia@fortworthreport.org.
At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
This article first appeared on Fort Worth Report and is republished here under a Creative Commons license.
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Steve Young
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Steve Young
Arlington’s Lincoln Square redevelopment moves forward…
Arlington’s Lincoln Square redevelopment moves forward, sidesteps hotel, apartment plans
Revised redevelopment plans for Anthem, formerly known as Lincoln Square, received approval from Arlington zoning commissioners March 5 in a 6-2 vote by commissioners, with one abstention.
Linda Finley and Derek Carter voted no, and Jacob Sumpter did not cast a vote. The request will head to the City Council on April 8.
The commission heard from Terry Montesi, CEO of Fort Worth-based Trademark Property Co., which has been working for years to reimagine the shopping center off Interstate 30 at Collins Street. Trademark asked the commission to revert to a previous zoning for the property so the company could have more flexibility.
Montesi said that current market conditions preclude his company from moving forward at this time with previously outlined plans for a 200-room hotel and 355 apartments. Montesi also made a presentation to the City Council during its March 4 work session, outlining the revised plans for the property.
Montesi said that after his company acquired Lincoln Square, significant market changes forced Trademark to rethink possibilities.
“We were early in the process and we were told by the mayor and city manager to shoot big. Plan a dense development. Don’t worry about the market,” Montesi told commissioners. “Our purpose is to be extraordinary stewards, enhance communities and enrich lives. And we thought this was an awesome opportunity to do so in your community, which is 20 minutes from where I live.”
Trademark bought the 45-acre property in 2022 from ShopCore Properties, an affiliate of Blackstone Inc.
Last year, Trademark revealed details about its plans to transform the 40-year-old shopping center into a development called Anthem.
“Based on changes in interest rates, construction prices, market, and on market rents, that original project that we shot for the moon is just not financially feasible based on our discussions with the city and the capital markets,” Montesi said.
Those market conditions dictated Trademark’s request to revert to the previous zoning, but leaving open the possibility of coming back should market conditions make a new hotel and apartments feasible.
“The quality and the details remain as they were negotiated in the prior zoning, and the (planned development) provides an immense amount of quality control. Anything we develop under the proposed (planned development) would be unrecognizable in comparison with what’s there today,” Montesi said. “We’ve guaranteed a central public space consistent with the (Universal Development Code) criteria, and this is what our plan was in the original zoning, and it hasn’t changed at all. This is what we do. This is why we were brought to the project.”
The new Anthem will be a total departure from the existing Lincoln Square.
“If you’re thinking that if we do a redevelopment, it’s going to look anything like Lincoln Square looks today, it’s just there’s no history, there’s no support,” Montesi said.
He said that the zoning has proposed guarantees that are a material improvement in quality over what is there.
“Our vision is elevated retailers and restaurants, great sidewalks, a public space,” Montesi said. “A mix of uses that we’re guaranteeing you in a redevelopment — public art, artists and signage that you’ve seen — and with all that, Anthem will be of substantial benefit to the city.”
Commissioner Paige Payne asked Montesi about the timeline for the project.
“As of right now, we’re negotiating with a big tenant that would enable us to start. We would close at year end,” Montesi said. He said that demolition would occur during 2026 and the company would do all the construction drawings and permitting next year, too.
Montesi said ground-up construction probably would begin in late 2026.
Trademark is a property company in Tarrant County with several active projects, including the estimated $115 million expansion of the WestBend mixed-use development in Fort Worth that includes a seven-story mid-rise apartment with 300 units and 4,500 square feet of commercial space fronting on University Drive.
The company also recently topped out construction on the $82 million Vickery development in Fort Worth’s Near Southside neighborhood that features green space, apartments, townhomes and a rooftop bar and restaurant. That development is expected to open in spring 2026.
Trademark also developed Alliance Town Center in north Fort Worth.
The commission also voted 5-3 in favor of an alternate signage plan for Anthem, including a new 60-foot sign visible above Interstate 30. Commissioners Payne, Carter and Linda Finley voted no.
This story has been corrected to reflect the correct voting outcome for Anthem’s alternate signage plan.
Lance Murray is a freelance contributor covering business for the Arlington Report.
This article first appeared on Arlington Report and is republished here under a Creative Commons license.
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Steve Young
Greater Home Availability…
Gave Texas Buyers More Choices in 2024.
New Texas REALTORS® report shows home sales and prices saw little change from 2023
March 06, 2025 — Austin
Texas home sales and prices remained steady in 2024, with small overall increases, according to the 2024 Texas Real Estate Year in Review report released today by Texas REALTORS®. The number of listings and average days on the market increased significantly, giving buyers in many markets more properties to consider.
Sales and prices inch. The number of homes sold was up in 14 markets and down in 12. Differences were generally modest in both directions. The highest gain was 4.3% in the Lubbock metro area, while the greatest decline was 6.8% in Beaumont-Port Arthur. Statewide, there was a marginal increase (0.7%) in home sales.The statewide median home price increased 1.2%, with 20 markets up, 4 markets down, and 2 flat. The highest gain was in Odessa (up 11%), while the largest dip was in Austin-Round Rock-San Marcos (down 2.2%). Homes in Austin-Round Rock-San Marcos were still the most expensive in the state, with a median price of $440,000. The lowest median home price was $195,000 in Wichita Falls.
The median price per square foot of Texas homes also increased slightly (0.7%), with increases in 22 markets and decreases in 4 markets. While the median price per square foot of Texas homes did not increase much overall in 2024, it is up 50.9% since 2017.
“Coming out of the pandemic, many buyers sat on the sidelines in 2024 with home prices staying high,” said Christy Gessler, Chairman of Texas REALTORS®. “Interest rates stabilized but were still higher than the historic low rates that so many buyers capitalized on previously. Additionally, inflation kept a lot of buyers out of the market in 2024.”
Home availability increases
Months of inventory, or how long it would take the existing homes on the market to sell at the current rate of sales, was 4.1 statewide, an increase from 3.4 in 2023. Four to five months of inventory generally indicates a market balanced between supply and demand, according to analysts at the Texas Real Estate Research Center. Every market saw a rise in months of inventory, except Victoria (unchanged) and Odessa (down 0.3%).
There were more homes on the market at the end of 2024 compared to the same time the previous year, with a statewide increase of 30.5% in active listings. All markets except Odessa saw increases.
“Texas REALTORS® care deeply and work hard to expand the homeownership opportunities,” says Gessler. “And they are ready to assist you in all phases of the home buying and selling process.”
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Steve Young
How Long Are Homes Staying on the Market?
The real estate market has seen major shifts over the past few years: (Before 2020): Homes spent an average of 80 days on the market.
The Anomaly: Homes were selling at record speeds during Covid, averaging just 25 days due to low rates and high demand.
Now (2025): Homes are averaging 73 days—a return to more balanced conditions.
What does this mean for sellers? Pricing strategically and listing at the right time can maximize your home’s value and reduce time on the market!
#RealEstateMarket #HousingTrends #SellingYourHome #PalmAgent #MarketUpdate #HomeSales
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Steve Young
How You Can WIN in Today’s Market!
- Home Values Keep Rising Over Time
Real estate has always been one of the best wealth-building investments! Buying a home today means securing an asset that could appreciate in value.
- Interest Rates Play a Huge Role in Affordability
When rates were high (think 1980s), home prices stayed low. Today, while rates have risen, they’ve slowed price growth, giving buyers better negotiating power.
- Household Income is Still Growing
Home prices may have surged, but household incomes are rising too! Many lenders are offering new loan options and assistance programs to help bridge the affordability gap. If rates drop in the future, you can refinance to a lower rate while benefiting from appreciation!
The Bottom Line
Home prices may be higher now, but smart buyers can still win big! Work with the right professionals, understand mortgage rates, shop strategically, and take advantage of incentives. A little know-how can turn today’s challenges into tomorrow’s success.
Pro Tip: Thinking of buying? Work with me and explore financing options that work for YOU. The right strategy = a win in today’s market!
RealEstate #HomeBuyers #WealthBuilding #SmartInvesting #RealEstateTips #MortgageMatters #PalmAgent #FutureHomeowner
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Steve Young
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