Cassco Land Company is looking to add to its ambitious Clearfork development west of Fort Worth.
Cassco seeks $400 million expansion while Fort Worth officials weigh $22 million in tax breaks to help, Dallas Business Journal Report.
The project calls for 300,000 square feet of commercial space, a 200,000 square foot automotive showroom and service center, and 350 multifamily residential units. The 25-acre expansion is adjacent to Cassco’s existing 270-acre Clearfork development. The project plans to build 2 million square feet of office space, 1.2 million square feet of retail, dining and entertainment space and 2,500 residences, according to its website.
Clearfork originally came with a estimated cost About $1 billion, for a total of $300 million in the first phase. The city agreed to a 15-year economic development plan that grants incremental property and sales taxes of up to 80 percent, capped at $48 million, the outlet said.
Cassco, whose chief executive is Crawford Edwards, will need to invest $350 million in a second phase, which will be split into two. The first part will be delivered in 2026 and the second phase will be completed in 2028.
City staff recommended that the Fort Worth City Council approve the expanded economic development plan. Council members will discuss the project at a May 23 meeting, the outlet said.
“It’s very exciting,” said Fort Worth Mayor Pro-Tem Gyna Bivens. “I think it’s going to propel us into a whole new era in Fort Worth where we’re going beyond cowboys and culture.”
— Quinn Donoghue
