Stockyards Heritage Development Company has ended plans for the second phase of a proposed billion-dollar expansion of the Fort Worth Stockyards, the developer announced Wednesday.
The company, a partnership of Majestic Realty Co. and the Hickman Companies, said it reached the decision after examining market conditions, activity in the Stockyards and its longer-range priorities. Fort Worth City Council approved Phase II in 2024, with a stated plan to make the district twice as large by 2032.
Rick Kline, president of operations at Fort Worth Stockyards, said the company reviews projects to match investment decisions with market needs. "That process led us to conclude the previously shared concept is no longer the right path forward. We have discussed this decision and our rationale with our partners at the City and look forward to other opportunities for the remaining undeveloped land," Kline said.
The first phase of the Stockyards redevelopment began in 2014 and included Hotel Drover and the Mule Alley entertainment area, according to the Dallas Business Journal. The Dallas Business Journal contributed to the yahoo.com report.
The City of Fort Worth said it respects the developer’s decision. Mayor Pro Tem Carlos Flores said the city’s relationship with Stockyards Heritage is expected to continue, and said money tied to the city incentive package under the 380 Agreement now adds capacity in the Stockyards/Northside TIF15 for other projects.
