Royal Capital unveils Evans and Rosedale mixed‑use plan; city, TIF funds remain part of financing discussion

Royal Capital on Tuesday unveiled detailed site plans for a proposed mixed‑use project at Evans and Rosedale in Fort Worth, presenting renderings for retail, flexible market space, townhomes and a senior housing component while city officials and residents pressed the developer and staff about grocery access, affordability and safety.

Robert Serns, economic development director, said the city issued an RFEI in March and selected Royal Capital in August. “We reallocated the ARPA funding and replaced those with general fund dollars,” Serns said, referring to $4,500,000 that city staff described as previously committed to the project through TIF planning. He and Royal Capital outlined a multi‑step predevelopment process that must include term‑sheet negotiations, conveyance of multiple city‑owned parcels, TIF board action and project approvals by neighborhood and design review bodies.

The project as presented would include about 184 residential units, a mix of townhome‑style “stacked flats,” podium buildings with structured parking, and a designated retail plaza the developer described as a flexible “public market.” Terrell Walter, development director with Royal Capital, said the design intentionally places taller buildings along the freeway and lower‑scale, pitched‑roof townhomes toward Evans Street to match neighborhood scale. “We want to develop alongside and with community,” Walter said, describing the October community visioning session where more than 150 people attended.

Why it matters: the proposal seeks to deliver long‑promised neighborhood investment while negotiating tradeoffs residents have raised for decades — notably reliable grocery access, affordable housing and public safety. City staff and the developer said a mix of tools will be used to make the project feasible, and that more detailed negotiations and design reviews will occur in 2025.

What the plan includes and how it would be built - Site program: renderings and the developer presentation showed a central plaza, flexible indoor/outdoor market space, sit‑down restaurant space, fitness/gym space, live‑work units and a range of housing types including townhomes and a “55 and wiser” senior housing building. The team described the market space as able to accommodate both a permanent convenience grocer and rotating vendors. - Unit count and housing type: the developer said the overall program is about 184 units and emphasized a mixed‑income approach; the housing component is currently planned as rentals rather than for‑sale units. Walter described the townhomes as “stacked flats” (one‑floor living with private entries). The developer said affordability would be a significant part of negotiations but did not commit to a final percentage at the meeting. - Parking and phasing: the team presented a single‑phase, “four‑corner” approach in which most buildings and public space would be built together rather than in separate phases. Townhomes would include tuck‑in garages; mid‑rise buildings would sit on parking podiums and the team said surface parking would be screened with landscaping.

Community questions the developer highlighted - Grocery access: residents repeatedly pressed for a conventional grocery store (milk, eggs, fresh produce) rather than relying solely on seasonal vendors. The developer said the site contains retail space sized and programmed for a permanent grocery or convenience market, but that recruiting a grocer has been a historic challenge in the area and would require additional targeted outreach and possible off‑site solutions nearby. A resident said, “You can't go to a pop up market and get a gallon of milk,” (Resident, public comment) and the developer replied that community‑driven sessions on the market are planned in 2025. - Affordability: residents asked how many units would be set aside at reduced rates. The developer said a mixed‑income strategy is a major objective and that city incentive negotiations will include affordability requirements. City staff noted the city’s typical economic development practice requires an affordability component on incentivized housing projects and that the final percentage will be negotiated. - Safety and security: community members flagged concerns from nearby developments and asked for planning on police presence, traffic calming and design measures to reduce crime risk. A resident and the developer said they expect a standing security working group early in the process.

Financing, approvals and timeline City staff described next procedural steps: continue design refinement, complete term‑sheet negotiations (the city hopes to reach a term sheet in Q1 2025), and then take approvals to the city council and the TIF board. Mike Brennan, president of Near Southside Inc., explained that TIF 4 funds are still set aside for the district and said those dollars would be part of a public‑private financing package. “Those dollars did not go to any other project. They are still set aside,” Brennan said.

The developer said predevelopment permitting and architectural review — including Historic Southside Neighborhood Association review, Tier 4 district requirements and the Urban Design Commission — typically takes 8–14 months and that the team will try to accelerate where possible. Developers warned macroeconomic conditions and interest‑rate volatility remain a feasibility risk.

What was not decided No formal approvals or votes were taken during the meeting. The city and developer repeatedly described the presentation as an early, working vision; staff said they would not announce a ground‑breaking date until financing, conveyances and approvals are completed.

What comes next Royal Capital plans a developer office‑hours series and targeted sessions in early 2025 for grocery market planning, business‑equity outreach and vendor recruitment. The city said it will continue negotiations on the deal structure and incentives and will present terms to the council and the TIF board in separate actions.

Ending note: meeting participants were invited to view renderings and provide written feedback at display boards following the presentation; the developer and city staff said they will keep community engagement ongoing as design, financing and approvals proceed.