The Cooper, a $65 million five-story 390-unit residential community, is slated for completion in August 2020.
FORT WORTH—The city's economic development strategic plan calls for providing a more balanced mix of uses in its urban neighborhoods, diversifying the tax base, and taking advantage of existing infrastructure, roads and utilities. One high-density urban in-fill residential community is closely aligned with those objectives.
Dallas-based multifamily development firm, Lang Partners, has broken ground on its largest project to-date–The Cooper–a $65 million five-story 390-unit residential community. Located at 1001 West Rosedale St. and slated for completion in August 2020, it will be the largest project of its kind in the Near Southside district, located just south of downtown.
“Fort Worth is uniquely qualified for this type of development because it is a growing city with a desire to increase density in the urban core and provide a broader range of lifestyle options in a dense employment area,” Dirik Oudt, co-founder and director of development at Lang Partners tells GlobeSt.com. “The city leadership has noted that mixed-use neighborhoods drive economic activity. The Cooper contributes to that effort by adding another choice of residential living that is within a block of jobs, services, entertainment, and multiple food and beverage venues.”
And, with a 76 Walk Score and 81 bike score, The Cooper is clearly a pedestrian-oriented environment.
As a Fort Worth native, Oudt says it is exciting to see the project come to fruition. However, because of rezoning requirements, the start date was pushed out a bit longer than anticipated.
“The property started out as single-family homes and small businesses, so land assemblage was complicated and rezoning was required,” said Oudt.
This process took years to complete, he says.
“The zoning approval was required because the site had two zoning designations with different approved heights and Lang needed the entire site at the maximum height allowed to develop the property,” Oudt tells GlobeSt.com.
With construction now underway, The Cooper is set to offer a mix of one-, two- and three-bedroom hotel-inspired apartments, lofts and townhomes. The multifamily development will include large glass windows, 10-to-12-foot ceilings, custom-designed walk-in closets, natural stone finishes, walk-in glass showers, dual sink bath vanities, private terraces, chefs' kitchens with quartz countertops, gooseneck faucets and prep islands. Floorplans will range from 600 to 1,810 square feet, with prices ranging from $1,200 to $4,000 per month.
Amenities will include a pool with lounging shelf, sundeck and private cabanas, outdoor grilling and lounge stations with fire pits, property-wide Wi-Fi, yoga studio and fitness center with strength training equipment, gourmet coffee bar, leash-free pet park with paw spa, co-working spaces with multiple meeting/conference rooms, package lockers with cold storage and dry cleaning services, and a six-level garage with 547 parking spaces, 80 of which will be open for public/community use.
In addition to Lang Partners as the developer, other project team members include KWA Construction as the general contractor, GFF as the architect, Moore Design Group as the interior design firm, Huitt-Zollars as the civil engineer, Jordan & Skala Engineers as the MEP engineer and Vertika as the structural engineer.
Dallas/Fort Worth was ranked the number one US real estate market to watch in the Emerging Trends in Real Estate 2019 study undertaken jointly by PwC and the Urban Land Institute. DFW took the top spot, rising from 2018's number five ranking due to its young, highly skilled workforce and business startup activity. The report notes that investors regard DFW as a metro with strong future economic potential but also features the liquidity of a gateway market.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
