The City of Fort Worth sold the Central Library for $18 million

What’s next for the building at 500 W. Third St.?

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On Tuesday, the city council voted to sell the Fort Worth Public Library’s Central branchlocated at 500 W. Third St. — for $18 million to national real estate investment firm Dart Interests, LLC.

The city listed the 250,000-sqft building in February 2022, citing a 45% decrease in usage since the 2020 shutdown. The listing required prospective buyers to invest at least $100 million into the property and redevelop it as a mixed-use project with office and residential space.

The city is planning to relocate resources and distribute collections among the other 17 FWPL branches, following guidelines from the 2019 Library Facility Master Plan. The Central Library’s genealogical archives were moved back in October with the new FWPL History Center.

The library will remain open until the summer of 2023, and as part of the sale, the city will be allowed to lease back a portion of the future space for $1.14 million for one year.

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