Plans for a massive, $1 billion expansion of the historic Fort Worth Stockyards have hit the brakes, even as the district comes off a summer of record-breaking tourist traffic.
Stockyards Heritage Development Co. announced it will no longer proceed with its planned Phase II project. The proposal had aimed to double the size of the iconic district by adding hotel rooms, apartments, underground parking, and expanded retail space.
The decision comes despite strong momentum in the surrounding area. Just last month, Fort Worth Housing Solutions and a private developer broke ground on a $71 million apartment complex just north of the district. Additionally, city officials reported that 1.8 million people visited the Stockyards during the recent World Cup events.
However, leaders at Stockyards Heritage Development Co. said internal evaluations led them to pivot away from the ambitious expansion.
Company officials added that they plan to discuss future possibilities for the remaining undeveloped land with city leaders.
