The Presidio at River East is a four building complex that will be located on Scenic Bluff overlooking the new River East Park and downtown Fort Worth.
APC and Corsair have partnered with US Freedom Capital on the development, and expects the project build out to be about 14 months with the projected opening in February 2020. Other team members include Fort Worth based Dunaway Engineers, BGO Architects, Crimson Builders, and Magnolia Property Company. Guaranty Bank and Trust provided financing for the project.
“The Presidio at River East has undoubtedly the best location in east Fort Worth and we have carefully planned the timing of this project to take advantage of the new Race Street improvements currently underway, as well as the new Riverside Park”, said Peter Aberg. “In addition, having the I-35W improvements completed next year will help make this area more accessible to residents.”
David Gunderson, Chief Investment Officer of US Freedom Capital, said “We are pleased to be involved with this unique project and have great confidence in this fast growing submarket located in the urban core of Fort Worth”.
Over the last two years the River East area (also known as Six Points Urban Village) has experienced significant new development from both the private and public sector. Criterion Development opened The Scenic at River East last year and will open a new 180 apartment project on Race Street early next year that includes ground floor retail. Plans are also in the works for more residential development in the River East area later in the year. “Over the next 18 months the River East area will be one of the most active submarket, for residents and new business”, said Aberg.
City of Fort Worth is currently improving Race Street and several new businesses are expected to come on line later in 2019. Last year Top Golf opened their only facility near the River East area just east of downtown on 4th St.