The City of Fort Worth has announced the appointment of Royal Capital as the master developer for the Evans & Rosedale urban village project, renewing momentum for a key revitalization initiative in the Historic Southside neighborhood. The Milwaukee-based Royal Capital was selected from among 11 proposals vetted by a selection committee that encompassed City staff and representatives from the Historic Southside Neighborhood Association during the city's Request for Expressions of Interest (RFEI) process initiated earlier this spring.
With a strong track record in developing sustainable communities, Royal Capital stood out to the committee based on numerous factors including their ability to think creatively for financing and project design, their record of community engagement, and their commitment to business equity initiatives. Despite the complex market conditions, they've shown significant prowess in securing project funding from diverse sources.
“At Royal Capital, we believe that collaboration is the new innovation,” Kevin Newell, Royal Capital’s founder and CEO said, as cited by City of Fort Worth. Newell expressed the company's enthusiasm for establishing a vibrant community that would serve as a leading destination for a live-work-play environment.
The undertaking has the support of local officials, including District 8 Councilmember Chris Nettles. "The intersection of Evans and Rosedale is a landmark of African American history in Fort Worth, symbolizing both the Black cultural richness of the past and ongoing efforts to preserve and revitalize this historic community," Nettles explained, as per the City of Fort Worth. He looks forward to ensuring the redevelopment efforts align with the economic needs and historical importance of the area.
Robert Sturns, the director of economic development for the City of Fort Worth, highlighted that Royal Capital’s approach to integrating community engagement and equitable business practice aligns with the city and Historic Southside residents' objectives. The team's understanding of the project's potential to invigorate the neighborhood has been met with considerable approval.
The next steps for the project include a briefing for the Fort Worth Local Development Corporation (LDC) on Sept. 24 followed by a community feedback session to facilitate engagement between the neighborhood residents, businesses, and the development team in a bid to collect input and address questions in an informal setting. Subsequent details will be updated on the Evans & Rosedale webpage.
