by Robert Francis
April 29, 2021
Twenty-six acres of land in the Panther Island development are coming to the market.
With the White Settlement Bridge now open, infrastructure improvements made and Encore Panther Island’s multifamily community soon to open, LanCarte Commercial, in collaboration with Panther Island Property Group, has announced that the largest portfolio of privately-owned land on Panther Island is coming to market.
Located just north of Downtown Fort Worth along the banks of the Trinity River, the area, known as Upstream at Panther Island, includes roughly 26 acres across ten parcels suited for mixed-use, office, multi-family, and retail development, with future riverfront opportunities and ample frontage.
Seven of the ten parcels feature frontage that will be adjacent to a planned canal or waterfront, according to LanCarte Commercial. At present, parcels 1-6 of Upstream are ready for development, according to a news release. The development of the final four parcels will correspond with later phases of the collaborative Panther Island/Central City Flood Project.
Mark Brock, Managing Partner of Lionhead Real Estate, the largest private investor on the Island, said: “We’re excited to be partnering with LanCarte in an incredible next chapter for Panther Island. We’ve been invested on Panther Island for over a decade, and having had the benefit of watching the progress from the sidelines, the marked increase in activity and completion of several key development milestones over the past few months are signaling to us that ‘lift-off’ moment has arrived.”
In early April, White Settlement Bridge opened, and the Main Street Bridge is set to open in June.
“We couldn’t be more enthusiastic about both Upstream and Panther Island,” said Sarah LanCarte of LanCarte Commercial. “There are few locations like this anywhere – a riverfront opportunity directly across the river from the skyline of (Fort Worth). Panther Island’s time is now, and Upstream is poised to accelerate the momentum.”
As envisioned, the $1.17 billion Panther Island project would entail digging a 1.5-mile bypass channel and rerouting the Trinity River north of the Tarrant County Courthouse. That channel would add flood control protection as well as carve out an 800-acre center island, which would create waterfront economic development opportunities, including a San Antonio-style Riverwalk. While plans have been in place for some time, the federal funds needed to complete the project have so far not materialized. That led to a impasse between the Tarrant Regional Water District, which is in charge of the project, and the City of Fort Worth, its major partner.