Partners in the $1.17 billion Panther Island project are seeking to bring a real estate development consultant on board to help generate an economic development blueprint for the future island.
Earlier this year, Fort Worth Democrat U.S. Rep. Marc Veasey, whose district now includes the island, and Fort Worth Republican U.S. Rep. Kay Granger, longtime champion of the project once dubbed Trinity River Vision, announced a federal government allocation of $403 million to design and begin construction of rerouting a section of the Trinity River north of downtown Fort Worth for improved flood control.
The funding for the flood control measures came from the Biden administration’s $1.2 trillion Infrastructure Bill.
Local partners collaborating on the project, including the city of Fort Worth, Tarrant County and the Tarrant Regional Water District, are seeking a consultant who could develop a plan for the project, also known as the Central City Flood Control Project, that aligns with the city’s Economic Development Strategic Plan. Other collaborating partners are Tarrant County College, the Real Estate Council of Greater Fort Worth, Downtown Fort Worth Inc. and Streams & Valleys.
The consultant will evaluate development opportunities by reviewing current market conditions, existing form-based code, and the project’s associated plans and regulations.
The consultant will be expected to deliver a recommendation on how to deliver to high-quality development on Panther Island, including engaging public waterfront use opportunities.
Also, the consultant’s role will involve conducting case studies of cities that have created successful waterfront or downtown re-development projects, identifying economic development opportunities and provide recommendations on governing the area’s long-term growth and development.
In addition, the consultant will lead a series of public meetings, where the public will be able to provide input on the plan, present progress updates, and present the final plan to both the public and the project partners.