132 replies to this topic

[Thurman52]

Work Begins on $5M Wells Fargo Bank Building
By Connie Gore
Last updated: Tuesday, October 5, 2004 08:06am

FORT WORTH-The developer of Fort Worth's first mixed-use village has kicked off work on the second anchor building for the $40-million plan. With construction just getting going, a prospect for Wells Fargo Bank's existing location already has surfaced.
The 33,000-sf Wells Fargo Bank Building will come out of the ground at 901 W. Rosedale St. with the first floor fully committed to the financial institution and a full floor of spec space on the second level. "But at the end of the day, this will be pure absorption," Jim Eagle, president of Red Oak Realty LLC in Fort Worth, tells GlobeSt.com. Magnolia Green is a 12-acre village with a five- to seven-year build-out plan bounded by Rosedale Street on the north, Magnolia Avenue on the south, Hemphill Street on the east and Alston Avenue on the west.

Work got underway on bank's class A building within six months of Magnolia Green's first groundbreaking, Texas Cancer Care's 51,000-sf diagnostic and therapeutic center. The cancer center will deliver in February 2005 and the bank will be ready three months later. Magnolia Green is laid out as a mix of office, retail and loft-style residential positioned around a one-acre public park.

"I'd love to start a third building as soon as demand creates itself," Eagle says. The bank building's excess class A space is tagged in the low $20 per sf range, plus electric. The $5.1-million Wells Fargo Building was designed by Weldon Turner of Turner Boaz Stocker Architecture of Dallas with the Beck Group's North Texas team as general contractor. Tally & Associates of Dallas is the landscape architect.

The bank's 28,000-sf facility in Quicksilver Resources Inc.'s headquarters building at 777 Rosedale St. is on the market for $16 per sf, full service. With Fort Worth's office occupancy above 90%. interest already has been shown in the site.


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[mosteijn]

Great news. Here's a shot of the Cancer center taken monday. Looks like it will have excellent street interaction:

[Urbndwlr]

John, could you enlighten us about the use of that yellow wall material seen in the photo of the Cancer Center? Any other observations about the building and/or site?

[JBB]

Somebody with more knowledge of construction may have a better idea, but is the yellow material gyprock?

[John T Roberts]

The yellow material is called gypsum sheathing. It is part of the building system to keep the inside air and water tight. The sheathing is placed inside the exterior wall and attached to the studs. The exterior building material is then placed in front of the sheathing. If masonry is going to be used, then an air space will be placed between the masonry and the sheathing. The masonry is anchored back to the wall by ties that are attached to the studs and sit inside the horizontal mortar joints of the masonry. These ties are adjustable and move when the brick expands and contracts at a different rate than the stud wall and structure on the inside. When I think of gyprock, I think of an interior application.

Thanks for the picture, Jonny.

[JBB]

Got it. I always thought that gyprock was the exterior version of sheetrock. Again, I'm the last person that needs to be making any guesses when it comes to construction materials and methods.

[John T Roberts]

The way that I always have thought of gyprock would be a moisture resistant gypsum product that would be installed in showers, restrooms, etc. Names like "Sheetrock" and "Gyprock" are brand names and our practices are not to specify the brand names, but call the material out in generic terms. For example, the exterior product that was shown in the photograph would be called out as "Gypsum Sheathing", then the specifications would describe the material and state the allowable manufacturers of the product. Such manufacturers would be: U.S. Gypsum, Georgia Pacific, National Gypsum Co., etc.

[mosteijn]

Does anyone know the status of this project?

http://www.o2designfirm.com/ssl.html

I drove by the lot the other day, and there was a sign advertising the lofs there, but this thing has been in the works for years...is it dead?

[Urbndwlr]

I believe I heard/read that the developer has altered the design to pursue a lower price range. I think the design shown there was all pretty high (I want to say well north of $500,000). I think they were redesigning it to pursue a younger market (more of a $200-300K range). I did hear, however that they intended to go forward with it.

[mosteijn]

Well here's a project that definately looks like it's on the right track (note the price range!!!):

Deal is closed for Texana Townhomes

FORT WORTH -- Fort Worth South has closed a deal to sell a 35,000-square-foot tract at Adams and West Oleander streets to Synchron City Investments, which plans to build 14 town houses in a project called Texana Townhomes.

Fort Worth South bought the land from the Fort Worth school district in May.

The town houses will range from 1,100 square feet to 1,900 square feet, and are priced from $135,000 to $240,000. Buyers will be allowed to customize floor plans and other interior details.

-- Sandra Baker

I saw a rendering somewhere, so if you can find it, please post it. I searched, but to no avail.

[mosteijn]

Yay! More adaptive reuse on the southside:

4. Operating Tech buys Western-wear site

FORT WORTH -- Jim and Gina Dernehl, owners of Operating Tech in Grand Prairie, which designs and manufactures power supplies, have bought the former Niver Western Wear building at 1221 Hemphill St. They plan to gut and remodel it for residential and retail uses.

The Dernehls will move their business to the 28,000-square-foot, two-story building and occupy about 7,000 square feet on the first floor. The remaining first-floor space will become shops, and the second floor will be converted into eight loft apartments, Jim Dernehl said.

Built around 1903, the building was once a post office and was the Texas National Guard Armory. It was expanded in 1960 and became home to Niver Western Wear. Niver moved out last month.

Jim Dernehl said the conversion will take about a year to complete.

Operating Tech has 10 employees locally and operates manufacturing plants in Taiwan and China. It ships products worldwide.

Tom Malone of TMA Architects is the project architect.

Kimber Smith, a real estate agent with J.J. Robb Real Estate, represented the Dernehls. Nick Ibarra with Clear Fork Properties represented Niver Western Wear.

[mosteijn]

WOW, I found the rendering for the Texana development:



Pretty nice looking, maybe a bit too much yard...

[John T Roberts]

Great find, Jonny!

[Urbndwlr]

Johnny, good call. The front yard there looks like a waste of space. From the perspective of a potential buyer, I would want to make sure that the materials they're using there are durable/sustainable.

I hope the facade isn't made of EIFS. I would never buy any house in this part of the nation made with EIFS.

[Urbndwlr]

The Fairmount Lofts are the units under construction on Oleander. I definitely get the feeling that this is the first piece of a new, higher density district.

[mosteijn]

The Fairmount Lofts are the units under construction on Oleander.  I definitely get the feeling that this is the first piece of a new, higher density district.

I totally agree. This will be especially appearant when the Oleander Walk starts construction early next year. Current view:



Rendering:



An extra goody from fwsouth, a larger site plan of Magnolia Green:

[mosteijn]

One other thing, planned private & public center investments for the next few years:



What sticks out the most is the high number of adaptive reuse projects, residential development between Rosedale and Magnolia, and the TRE extension with a station on the southside within 2 years, which is the thing I want most to happen (well, light rail would be better, but I'll take what I can get).

[Thurman52]

More progress in this area:

Southside will get first TIF-backed parking garage
Michael Whiteley 10.JAN.05

Construction on the first parking garage built with money from a local tax increment finance district should begin in Fort Worth's medical district during the second quarter of the year, with the debt for the $4 million structure to be retired by revenues from an anticipated $40 million in new taxable value.
The board of directors of Southside TIF #4 approved plans last month for a three-level, 320 space structure on the east side of Alston Street between Magnolia and Rosedale Avenues. As part of the agreement reached among the TIF board, the city of Fort Worth, and Fort Worth South, Inc., a new Local Government Corp. will be created by the city and will borrow the construction costs to be repaid over the following decade.
Once the loans are paid with taxes collected from revenues generated by the site, the garage will be sold at fair market value.
The arrangement will provide free public parking. The Downtown TIF currently provides free parking on nights and weekends through a series of lease agreements with private parking garages.
But the Fort Worth South deal allows “densification” of the Magnolia Green urban village development and serves the businesses in the heart of the district along Magnolia, which include the Texas Cancer Center's new Center for Cancer & Blood Disorders and the new Wells Fargo Bank building on Rosedale.
James Eagle, president of Red Oak Realty, a partner in Magnolia Green, said the precedent-setting garage frees another 50,000 to 60,000 square feet of building space in the project by elevating 220 cars from developable ground.
Eagle and his partners have worked on the deal for three years. He predicts it won't be the last.
“This is a pioneer agreement,” Eagle said. “To my knowledge, this has never been done in the city of Fort Worth.”

[redhead]

The Niver Western Wear building is a very cool old building. I forgot what it was originally built for but it has old dock doors in the back for horse-drawn carriages and lots of neat features. I looked at the building some time ago, but had too much on my plate to take a project that size on. I hope they retain some of the interior in its original condition!

[Urbndwlr]

The Niver Western Wear building is a very cool old building. I forgot what it was originally built for but it has old dock doors in the back for horse-drawn carriages and lots of neat features.  I looked at the building some time ago, but had too much on my plate to take a project that size on. I hope they retain some of the interior in its original condition!

What are they doing to it? Which building is that?

[John T Roberts]

Urb, the owners are going to remodel the building. I think they are going to convert part of it for their office use and then convert the second floor into a few lofts. The "building" contains a very old original structure with two additions on each side of it. To find it, go to the northeast corner of Magnolia and Hemphill and you will find a parking lot. The building is just to the north of the intersection. At first appearance, the structure looks like an ugly 1970's concrete panel building. All three buildings were unified in appearance when the additions were built. The north and south sides of the building look similar to the west, but when you go to the alley facade, you can see the rear of the original building is still brick with arched windows, indicating that it is much older than the 1970's. Unfortunately, when Hemphill was widened, the front bay of that building was removed to allow for the street; therefore, its original front facade is gone. It was at that time the additions were constructed and a unified facade was erected. I think the current plans call for a new facade to be built that is more contextual with the Magnolia area streescape.

[mosteijn]

P.S. I have been looking at the fairmount lofts and they are nice, but the location is suspect. I mean how urban can it really be when there is nothing to even do really? So 300k for what?

I don't know where you got the idea that there is nothing to do. Well, I guess FW South doesn't market itself as well as it should considering what it has to offer. Fairmount lofts is only a block away from Magnolia Avenue, one of the only streets in FW that offers historic, urban architecture with street level retail consisting of unique, locally owned and operated restaurants and shops. Every building that gets renovated brings a new player into the mix, plus there's the huge Magnolia Green development, a great example of well designed urbanism. Construction on the Oleander Walk, a pedestrian only street that will run right by Fairmount Lofts, is going to begin soon (they have funding), and eventually light-rail will go down Hemphill and Rosedale so you'll be able to get to the emerging S. Main entertainment district and downtown pretty easily.

Not to mention all the jobs the medical district provides for the area, and given that all of the hospitals have expansions or renovations in the works, I can only see the employment prospects getting better and better (assuming you want to work in the medical field).

Anyways, I'm sure I didn't cover everything (like the festivals, art shows, etc.), so visit FW South's website. Click on the news page to get monthly updates on development and whatnot.

[feaguru]

Thanks for the response, but....I think perhaps you missed my point. Almost all of what you said is if/when/will/wher kinda thing. Does it have potential...certainly! I will not disagree with that. But I want to live "now". The projects take time, and what if the budget for some of them the runs out...or the real estate bubble bursts, or interests rates go high..or, etc etc. This is not a sure thing.

With that said, lets look at the facts and what is there TODAY. I guess when I think urban, I am thinking maybe at least one place to go and have a drink...some nightlife perhaps. Magnolia...well its "nice", but what is there to do there? Honestly, a couple little restaurants...some shopping. OK, but pretty low on the "cool" scale.

I am not trying to bring down FW or anything, but I am in a predicament. I want to buy, but dont like the suburbs. However, what is being called "urban" (Fairmount) seems like the residence is urban but after that doesnt live up to the billing. It is certainly a nice place with POTENTIAL...noone knows for sure if that will be realized. Yes, I have visited fortworthsouth.org and everything sounds great...but dont forget that is a privately owned organization, they have no guarantees.

Anyway, I really want to get an "urban" place and I sometimes try to tell myself its something its not. But my friends are like, when I visit can we walk to some cool places at night, or this and that...and reality starts sinking in. They claim its going to be like uptown dallas, well....its many years from that (and I wont be here then). Thanks for the reply though, its nice to hear to hear some vantages points....and I really keep hoping there is a place for me.

[mosteijn]

It just keeps getting better:



Just move the houses darn it! That's 10x better than having them demolished or not having such a nice looking project be developed.

[John T Roberts]

Jonny, I do agree with moving them is better than the alternative of having them demolished. I think where the preservation groups are coming from on this subject is that these houses have the historic district's overlay on top of their MU-1 zoning. The precedent that the moves might make would be to allow many other homes or other structures to be moved to within other parts of any historic district. If enough of this activity occurs, then the elements within the district will all be jumbled up and in different locations; thereby, jeopardizing the historic status of the district itself.

[mosteijn]

Hmm, I hadn't thought about the possible loss of historic status, that would complicate things. I don't think they should worry too much about moving historic structures becoming the "norm", since moving those buildings costs just as much, if not more, money as building something new.

Besides, this is probably going to only be an issue to isolated areas of Fort Worth South, since there's still plenty of land that's underdeveloped and non-historically significant. It's even going to be isolated in Fairmount, since most of the land fronting Magnolia has enough space into the neighborhood that nothing will have to be moved, demolished, etc.

[John T Roberts]

If you read the excerpt from Fort Worth South's Newsletter that Jonny posted, you can express your opinions on this subject to the Landmarks Commission by e-mailing the City's Historic Preservation Officer or by letter to the City Planning Department.

[mosteijn]

Here are a few construction updates from today:

The completed first building in Magnolia Green



The almost completed Wells Fargo building, also in Magnolia Green



And the sign for the Texana Townhomes development. I went to the website given there, but it didn't work for me. If it works for any of you, let us know what's going on, please!

[John T Roberts]

Here are my photographs of the first building completed in Magnolia Green, known as The Center for Cancer and Blood Disorders. I have been intending to put these on the web site, but I have not had much time to work on it.

The standard view from Magnolia Avenue:


From the landscaped northern side of the building:


Finally, a view from the west showing the main entry:

[SouthSideAllan2000]

I went to the website given there, but it didn't work for me. If it works for any of you, let us know what's going on, please!

I got a not authorized message so I did a search and found www.squareonedev.com but I don't think it's the same company, and that's probably why www.squareonedevelopment.com is down.

[mosteijn]

Well, Magnolia Green now has it's own "webpage" if you will, just some pictures and an updated site plan (gee how often are they going to change it?) on it's own page on FWS's website.

Link: http://www.fortworth...noliagreen.html

Siteplan:

[John T Roberts]

I now have a quick update. The next phases of Magnolia Green are either under construction or they will start soon. The medical office building between Alston and Lipscomb that fronts on Magnolia is now under construction. Construction will start soon on the 3 level, 323 car parking garage on Alston Ave.

[mosteijn]

Already? That's great, it would appear they're running ahead of schedule. Now all that's left are the retail and residential components of the project (and one more MU builiding attached to the garage, right?)

[mosteijn]

Some more updates...

Redeveloper sells south-side properties

Daedalus Development, a real estate redevelopment company that specializes in saving and restoring old and historic buildings on Fort Worth's south side, has sold some holdings.

Ray Boothe, a partner in Daedalus with Fran McCarthy since the late 1990s, said properties on South Main Street and near Texas Wesleyan University were sold to buyers who can complete the redevelopment that Daedalus wanted.

Stadium Technologies, an audio/video-design consulting firm based in Fort Worth, bought two buildings, 403 and 407 S. Main St., totaling 8,850 square feet and built in 1924.

Rosedale Land Holdings investment group bought 3016, 3114 and 3106 E. Rosedale St., single-story properties totaling about 12,300 square feet and built between 1910 and 1929.

Scott Carlock, owner of Stadium Technologies with his wife, Stephanie, said the South Main property will be used for offices.

Design and construction plans are being reviewed, and Scott Carlock said construction will likely begin in the first quarter of 2006.

The buildings have been vacant for more than a decade, he said.

The larger of the two buildings, 7,200 square feet, will be restored as closely as possible to its original design, Carlock said.

The structure of a smaller, attached building that has lost its roof will be kept for a courtyard or removed to make room for parking, Carlock said.

Boothe said he is the architect working with Rosedale Land Holdings on the Rosedale Street buildings, near Texas Wesleyan University.

Several plans are being considered for the structures, but it will likely include stores or other retailers, Boothe said.

The buildings are part of the city's urban-village plan for the neighborhood.

Rosedale Land Holdings includes real estate investor Peter Lyden of Fort Worth, Tim Harvard of Aledo and Robert Lott of Birmingham, Mich., according to state records.

-- Sandra Baker

Motheral family sells site on South Main Street

The Motheral family, which moved its printing company from South Main Street to the Centreport business park near Dallas/Fort Worth Airport in 2003, has sold a parcel on the northeast corner of South Main and Hattie streets.

The family bought the land several years ago, planning to hold it to expand a printing plant, Jim Motheral said.

Motheral Printing sold its plant to the Fort Worth school district, which is considering selling it.

Buying the 31,960-square-foot tract at Main and Hattie are real estate investor Peter Lyden of Fort Worth, investor and developer Robert McKenzie-Smith and Robert Lott of Birmingham, Mich. They bought the land under the partnership Main Street Land Holdings, according to records.

McKenzie-Smith said that the group's focus is urban redevelopment on the near south side and that it expects to build homes on the land.

The group plans to begin building nine town houses in the next couple of months on its parcel at Washington Avenue and Dashwood Street, McKenzie-Smith said.

The group also has two parcels nearby under contract, also for town houses, he said.

"The dynamic in the central-city market is not a fad but long-term," McKenzie-Smith said. "We're buying as much land as we can."

-- Sandra Baker

----------------------------------

That McKenzie-Smith project on Dashwood is the Southside Lofts, right? Also I noticed the page that Urb posted a while back refreshes itself every now and then, and new renderings of Southside Village (a reliable Schaumburg project I'm sure, look at how many of his recent proposals have actually been built ) and newish looking site plan of Midtown. I really hope these projects happen before the medical district gets too pricey, the prices right now make the projects much more accessible to a wider market.

[vjackson]

I drove over from Dallas with two friends Saturday to attend a free dance performance at the Modern. I decided to take my friends to dinner at BJ Keefers on Magnolia. The last time I ate there, I was aware the placed had changed owners, but the food was the very same, as if nothing had changed. You can imagine how embarrassed I was, after bragging about how great the food was, to find the place has totally gone downhill. That wonderful fixin's bar is gone and to my horror the best onion rings in the world have been replaced with the greasy, frozen, tasteless variety. I didn't even like onion rings until I had them at BJ's!!! Nothing we ordered was good, and the new owners are pushing the new Italian menu. I did notice all of the new construction around and it looks great. It's such a shame now that the area is finally coming into its own, one of its institutions has died. RIP BJ Keefers.

[norcica]

I just heard that the old Weinstein hardware store building on the corner of Magnolia and Jennings (right by St. Mary of the Assumption) is being restored and expanded. The new building will be retail on the bottom, condominiums on the top. Anyone know who's the developer, schedule, etc.?

Norbert