From 70-year-old historic landmarks getting facelifts to hopes of a man-made island in the heart of the city — here’s some downtown development news that caught our eye this week.
Oil & Gas Building
Then: The building was constructed in 1954 — between Taylor and Throckmorton Streets — in the heart of the Central Business District. The tower shares the same lobby entrance as the former Star-Telegram building, which was originally built in 1929 for The Fair department store. The property has been on the market since 2020.
Now: Dallas-based Bluelofts Inc., announced plans on Monday to convert the 16-story building into 180 residential units with amenities like a community gym and club, co-working space, and restaurants and retail on the ground floor. Residents will utilize the parking garage that backs up to the building. It’s expected to be complete in two years.
Texas Electric Service Company building in downtown Fort Worth, 1944.
W.D. Smith Commercial Photography, Inc. Collection/ UTA Special Collections
Fort Worth National Bank
Then: Built in 1952, the 16-story structure originally housed the Fort Worth National Bank at 115 W. 7th St. In 1975, Texas Electric Service Company relocated to the building, and after several name changes, officially named the tower Oncor. The building was vacated in 2021.
Now: On Tuesday, Chicago-based 3L Real Estate purchased the 300,000-sqft tower and plans to convert it into apartments. Renovation plans include a new fitness and business center, plus ground floor retail space. Current first floor tenants include The Capital Grille, Little Red Wasp, and Plains Capital Bank.
Panther Island Project
Then: Last year, the US Army Corps of Engineers allocated $403 million in federal funding for the Central City Flood Control Project along the Trinity River. Future plans include a downtown waterfront entertainment district with restaurants, bars, shopping and apartments. The development will follow construction of bypass channels to reduce risks of flooding.
Now: On Tuesday, HR&A Advisors Inc. won a $560,000 consulting contract with the city to serve as project manager and lead consulting team. The firm will assess existing plans, perform case studies, create a development strategy, and identify potential funding sources.
New bridges already span the future channels on North Henderson Street and White Settlement Road. Last year, the city asked residents for help renaming the bridges and city leaders plan revisit the proposed ideas at a work session on Tuesday, Jan. 24.
