Breaking bread: New Southside urban village developer meets Fort Worth community
Developers of Royal Capital introduce themselves to residents during an Evans and Rosedale redevelopment project meeting at the Ella Mae Shamblee Fort Worth Public Library on Sept. 25, 2024. In August, Royal Capital was chosen as the new master developer for the urban village project. (Camilo Diaz | Fort Worth Report)
” data-medium-file=”https://fortworthreport.org/wp-content/uploads/2024/09/SouthsideMeet_Sept25_CamiloDiaz0086-scaled.jpg?fit=300%2C200&ssl=1″ data-large-file=”https://fortworthreport.org/wp-content/uploads/2024/09/SouthsideMeet_Sept25_CamiloDiaz0086-scaled.jpg?fit=780%2C520&ssl=1″ tabindex=”0″ role=”button”>A Wisconsin developer broke bread with Historic Southside community members as plans for an urban village are reignited.But some residents, distrustful after decades of promises by city leaders and corporate executives, said they may find the project tough to swallow amid fears of displacement and gentrification. “I’m skeptical,” resident Bill Jones said, “but I came to listen and see what the plans are.”Billed as a “fireside chat,” Royal Capital founder and CEO Kevin Newell introduced himself and his team as the new master developer for the city’s Evans and Rosedale project. The Sept. 25 discussion was moderated by Lorraine C. Miller, chair of the economic development committee for the Historic Southside Neighborhood Association.The introduction began with a community meal outside the Ella Mae Shamblee Library catered by Smoke-A-Holics BBQ, the popular neighborhood eatery at 1417 Evans Ave. Residents mingled and dined on barbecue plates — with a choice of sausage, chicken or turkey — along with side items and banana pudding for dessert.Later, more than 100 residents packed a community room inside the library to hear Newell’s vision for the urban village. Royal Capital, a Milwaukee-based company, was selected in August to lead the project after Fort Worth officials launched a new search in March. The process commenced after the city dropped Hoque Global as its previous developer late last year. Royal Capital, a Black-led firm, was selected from 11 applicants based on its creative thinking, business equity practices and experience securing financing for projects in difficult markets, officials said.Chris Nettles, the Fort Worth City Council member who represents the area, said the city is committed to the neighborhood’s revitalization. “Let me articulate it — it’s going to happen,” Nettles told the audience. “Fort Worth is strongly committed to seeing it to the finish line.”Numerous city officials — including City Manager David Cooke and Assistant City Manager William Johnson — also attended.Community members gather for an Evans and Rosedale redevelopment project meeting at the Ella Mae Shamblee Fort Worth Public Library on Sept. 25, 2024. The purpose of the meeting was for residents to meet Royal Capital, the company chosen in August to lead the new urban village project. (Camilo Diaz | Fort Worth Report)Newell, who started his real estate development company in his mid-20s, said his mission is to revitalize communities with high-impact projects that address health care strategies, commercial retail options and technology with an eye toward social responsibility.He pointed to collaborative revitalization efforts in Milwaukee that his company developed, including raising $30 million for a new high school.“Fort Worth is a warm community,” Newell said. “Y’all have packed this room. … We want to go to communities that help themselves.”For the Evans and Rosedale urban village, Newell said he will work with community members to gather ideas and input to make the development successful for the neighborhood.The city canceled its contract with former master developer Hoque Global because it had trouble securing financing for a proposed $70 million mixed-used, walkable development under deadlines laid out by staff. Hoque Global also struggled to attract minority subcontractors as the city’s incentive deal required; the company would have received $19.7 million in land, grants and payments from the Southside Tax Increment Financing District, the Fort Worth Report previously reported.Newell said his company has had success financing many of its own projects. The Evans-Rosedale urban village will face significant issues such as the city’s homeless population as well as hiring enough Black subcontractors. “We do appreciate the challenge,” he said.He told residents that he wants their input with ideas that are local and help support the community. The company has an engagement strategy to get feedback before renderings of the proposal are offered to the community in November.During a short question and answer session, some residents said they were concerned about higher taxes and displacement. Newell noted that one project he worked on included an anti-displacement fund that aids residents with property taxes when those increase.Johnson, the Fort Worth assistant city manager, said the meeting went well and prompted a strong discussion of ideas and needs.“I think we’re coming along,” he said. “There was a good discussion today and we’ll continue to talk about the project.”Miller, the Historic Southside neighborhood leader, said the discussion was positive. She hopes community members stay involved in the process as the development advances.“We need people to come out and be a part of the solution,” she said.Royal Capital’s engagement with the community will continue with a block party from 4:30 to 6:30 p.m. Oct. 23 at the Shamblee library, 1062 Evans Ave. The event will gather input before a presentation of renderings in November. Eric E. Garcia is a senior business reporter at the Fort Worth Report. Contact him at eric.garcia@fortworthreport.org. 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