Fort Worth Business Press, June 2, 2014 Vol. 26, No. 22 | Page 8

8

cover story

June 9 - 15, 2014 | fwbusinesspress.com

u stockyards from the cover
“The Stockyards is a massive
project,” said Brad Hickman Sr., Holt
Hickman’s son, in explaining why the
family needed a partner to move its
holdings forward. “We’re landowners,
we’re not developers. We’re business
owners.”
Cavileer, whose firm also is family
owned, said the Stockyards’ appeal is
in its brand.
“The Stockyards is an international
brand,” Cavileer said. “It’s got a
theme that’s already determined.”
The deal does not include the
Hickman family’s 100 percent
ownership interest in the Livestock
Exchange Building or its majority
interest in Stockyards 2000, an entity
whose holdings include Billy Bob’s
Texas.
The partnership is asking the city
for up to $26 million in incentives
over 25 years for infrastructure. The
council will vote June 10 on the
incentive agreement.
The real estate holdings have major
infrastructure needs, Cavileer said,
such as flood control, water and
sewer improvements or additions.
The partners agreed, among other
things, to invest a minimum $175
million over 10 years to get the
maximum incentive.
In a June 2 letter to Price, they also
said they believe a tax increment
finance district is the best way to
pay for necessary improvements in
the Stockyards in the future. In its
June 3 pre-council discussion of the
project, the council agreed to the TIF
discussions by the staff.
Price also said it’s critically
important for the city and developers
to set design standards for the
Stockyards to ensure that what goes
in is appropriate to the Stockyards’
history and flavor.
“We must respect the historical
character of the Stockyards,” she said.
Cavileer and Hickman agreed.
“You don’t want somebody putting
up a glass tower,” Hickman said in
the interview.
Council members voiced support
for the incentive agreement.
“The developer is at risk and must
make
considerable
investments
before he can begin to take advantage
of what’s offered here,” Price said.
District 2 Councilman Sal Espino,
whose North Side district includes
the Stockyards, said the project “can
be a spur of the revitalization of the
entire near North Side,” including the
area around Meacham Airport.
“It’s a great marriage,” District 7
Councilman Dennis Shingleton said
of the partnership. “Authenticity is
the key.”
The Fort Worth Stockyards National
Historic District is the official
designation of the 98-acre area
established in 1976.

Heritage Conceptual Plan

“You don’t want
somebody putting
up a glass tower.”
– Brad Hickman Sr., vice president
of Hickman family interests

marine creek district
MULE BARNS ACTIVATION
180,000 square feet

- creative office: 50,000 square feet

- retail: 100,000 square feet

- restaurant: 30,000 square feet
RESTAURANT
20,000 square feet
RETAIL
75,000 square feet
CREATIVE OFFICE (above retail)
20,000 square feet
PARKING- SURFACE (2 S76W2