Robert Bass’ Keystone Group and Larkspur Capital are seeking $45 million in public infrastructure funding for the Westside Village development in Fort Worth. The developers have applied to Fort Worth’s Tax Increment Finance District No. 4, which will vote this week on whether to approve the request, according to a report by the Dallas Business Journal.
The planned Westside Village project spans 37 acres on the city’s Near West Side. It is expected to feature 880,000 square feet of office space, 238,000 square feet of retail, nearly 1,800 apartments, and a hotel with 175 rooms. Construction on the first phase is projected to begin in early 2026 and conclude by 2028.
In June, the Fort Worth City Council approved a Chapter 380 grant and tax increment financing for FW Westside RE Investors. These grants will be distributed over a period of fifteen years. Now, Keystone Group and Larkspur Capital are seeking additional support from the Near Westside TIF District.
Tax Increment Financing (TIF) in Texas allows cities to use future gains in property tax revenues from an area to fund infrastructure improvements such as roads, utilities, and streetscaping at developments like Westside Village.
To receive these incentives, developers must meet several conditions: The first phase must see at least $410 million invested with $311 million in hard construction costs spent by the end of 2030. Minimum requirements also include building at least 200,000 square feet of office space, 95,000 square feet of retail space, and a hotel with no fewer than 150 rooms.
Westside Village is among several large-scale projects underway in Fort Worth. Other notable developments include Brown Ranch by Hines and Goldenrod Company’s Van Zandt project.
Robert Bass leads Keystone Group and has extensive experience developing residential and commercial properties. Keystone Group manages investments across real estate as well as securities and oil interests. Larkspur Capital is led by Carl Anderson IV; its recent projects include Victoria Row, Santa Fe Trail Lofts, and The Willows—multifamily developments located in Dallas.
