The 16-story midcentury tower at 115 W. Seventh St. in downtown Fort Worth is trading cubicles for couches, with plans to carve out roughly 330 apartments and give a block near Sundance Square a new round of nightlife and porch lights. Chicago-based 3L Real Estate, which bought the property in 2023, is set to turn the former Oncor office tower and Fort Worth National Bank building into a mix of studios plus one- and two-bedroom units. The project is part of a growing wave of office-to-residential conversions aimed at pulling more full-time residents into the city center.
According to the Dallas Business Journal, the 16-story building at 115 W. Seventh St. is slated to become a 330-unit residential complex. Chicago-based 3L Real Estate purchased the tower in 2023, and Joseph Slezak said in a statement to The Dallas Morning News, “3L is extremely happy to bring another exciting project to Fort Worth.”
Project Details And Public Support
Per Bisnow, 3L's conversion is estimated at roughly $58 million, and the Lancaster Corridor TIF board has signed off on about $4.7 million in infrastructure reimbursements tied to the work, on the condition that 20% of the units stay at below-market rents for ten years. The developer's project listing highlights amenities such as a pool, fitness center, rooftop space and package-receiving services, as detailed by First Capital Advisors. “This is bringing people downtown,” board member Johnny Campbell told Bisnow.
A Midcentury Landmark
The roughly 300,000-square-foot tower opened in 1952 as the Fort Worth National Bank before later serving as Oncor's downtown home, a role it kept until the utility moved out in 2020. Coverage of the sale to 3L and its conversion plans surfaced when the developer bought the property in 2023, according to The Dallas Morning News. The Texas Real Estate Research Center has also documented the property's square footage and the owner's outline for turning the office building into housing.
Why Downtown Is Shifting
The conversion is part of a broader run of office-to-residential rehabs that together are expected to add hundreds of units downtown and help fuel a development pipeline local reporting values in the billions, according to Bisnow. City leaders have leaned on TIF tools and other incentives to push for affordability and more active street fronts, as noted by the Fort Worth Report. Developers argue that bringing more residents within walking distance will help keep the restaurants and retail around Sundance Square humming beyond office hours.
Permits, financing and interior retrofit work still have to fall into place, so a firm construction timeline has not been announced. The project is expected to move ahead as 3L secures approvals and finalizes detailed plans. For more on the proposal and the city's role in the deal, see the reporting from the Dallas Business Journal.
