HR&A chosen as economic development consultant for Panther Island
Reposted from Panther Island.
Last year, several important milestones were reached in the continued development of Panther Island:
- The U.S. Army Corps of Engineers announced an allocation of $403 million from the federal government to provide funding for the Central City Flood Control Project, which allowed local partners to turn their attention towards the economic development phase of the district.
- Last fall, these partners issued a Request for Proposals (RFP) for national real estate development experts who would consult on ways that Panther Island can reach its full economic potential, bringing the Trinity River Vision into alignment with the city’s Economic Development Strategic Plan as part of an updated strategic vision for the area.
Now, the City of Fort Worth, Tarrant County, the Tarrant Regional Water District (TRWD), Tarrant County College, Real Estate Council of Greater Fort Worth, Downtown Fort Worth, Inc., and Streams & Valleys are pleased to announce that a team led by national real estate expert HR&A Advisors has been selected to provide key analysis and consulting services that will guide the future development of Panther Island.
HR&A will serve as project manager and lead for real estate and economic development strategies. The rest of their consulting team will include civil engineering firm, Salcedo Group Inc. (SGI); urban planning and design firm, Lake Flato; and community engagement and outreach firm, K Strategies.
HR&A has previously worked on similar districts and waterfront projects throughout the country like the Anacostia River waterfront revitalization in Washington, D.C., Buffalo Bayou in Houston, the Ion Innovation District near Rice University, Broadway Station in Denver, Klyde Warren Park in Dallas, and the master plan for the University of Texas’ research campus. In addition to their ability to address specific needs around zoning analysis, real estate strategies, and economic development, local partners were particularly impressed by the consulting team’s commitment and approach to public engagement.
As part of their work, HR&A will also take into consideration the impact of different development strategies on districts that surround Panther Island, such as Downtown and Northside.
“The pieces are really coming together for Panther Island,” said Robert Sturns, Economic Development Director for the City of Fort Worth. “Local partners and the business community are making a strong economic development push at the district, but we want to be smart about how we do it.”
“The expertise and market knowledge that HR&A and their team will bring to the table over the next several months is critical to making sure that we have a complete picture of what’s possible for Panther Island. That way, we can make the most of this opportunity and ensure that it makes the kind of impact that has been envisioned for so many years.”
Work with the HR&A team will begin in the first quarter of 2023, and should be completed by the end of the year.
Stakeholder and community engagement will be incorporated throughout all phases of the project, which will start with an assessment of existing conditions, plans and regulations; then shift its focus to development strategies, implementation, and governance.
Location Mentioned: Panther Island Pavilion