Shopping in Clearfork could get a lot more expensive. If you thought Gucci, Louis Vuitton, and Burberry were upscale, wait until this project rolls in.
The mixed-use development along Chisholm Trail Parkway and Edwards Road is looking to double in size by relocating Autobahn Fort Worth from White Settlement Road, bringing its BMW, Land Rover, Volvo, Jaguar, Porsche, and Volkswagen dealerships five miles southwest.
The ~$400 million project would span 25 acres northeast of the current shopping district + is expected to be finished by the end of 2028.
Cassco Land Co., the Edwards Ranch development arm, is seeking $22 million in tax incentives from the city, according to an economic development proposal presented earlier this week.
The incentives — up to 80% of the developer’s maintenance and operations cost — would offset the cost of showrooms, service centers, and 200,000 sqft of vehicle space.
Michael Hennig, economic development manager for the city, said the urban-style design would feature a vehicle service center and showrooms based around a parking garage. The project will also include 350 new apartment units and an additional 1,750-space parking garage.
City Council will vote on the proposed agreement in the Tuesday, May 23 meeting.
This second phase of Clearfork — combined with the 25-acre Phase One development that opened in 2018 — sets the full master planned project anywhere from $800 million to $1 billion.
But wait, there’s more.
Across Clearfork Main St., Cassco is also planning another expansion project with Tryba Architects that includes residential, retail, and office spaces along the Clearfork Trail.
Meanwhile, the adjacent Keith House project is set to be completed in August + Oak and Eden’s whiskey tasting room and Plank Seafood are coming soon to the Shops at Clearfork.