Fort Worth City Council unanimously approved a $630 million plan that will nearly double the size of the historic Stockyards entertainment district.

The details

According to city documents, the expansion would add the following:
  • 300,000 square feet of new commercial development
  • 500 hotel rooms in one or more properties
  • A 295-unit multifamily property
  • 1,300 parking spaces in two or more underground parking garages
  • Expanded livestock buildings
  • Cowtown Coliseum improvements
Zooming in

According to city documents, the city will purchase the parking garages at a cost of $126.15 million. Additionally, the city will also reimburse up to $15 million of construction costs incurred by the developer for improvements made to the Cowtown Coliseum.

To assist in the financing of these two items, the city will enter into a tax increment financing agreement that will use tax dollars within a tax increment financing zone to help reimburse the costs.

The backstory

The historic Fort Worth Stockyards were built in 1876 when the city became a major shipping point for livestock and reached a peak in 1944 when it processed more than 5 million cattle, according to the city website. While livestock are no longer shipped from the Stockyards, it has become a tourist attraction and entertainment destination that draws more than 3 million visitors annually, according to the city website.

City documents state the expansion project is slated for completion by the end of 2032.