Fort Worth Stockyards leaders decided not to move forward on a planned $1 billion second phase of development.
Citing market conditions, Stockyards Heritage Development Co. announced Wednesday it will not implement the second phase of renovations valued at $1 billion, which consisted of additional hotels, underground parking, commercial space and residential development.
“As the lead developer, we continually evaluate opportunities to ensure our investments reflect current and future market needs,” said Rick Kline, Fort Worth Stockyards president of operations, in a news release “That process led us to conclude the previously shared concept is no longer the right path forward. We have discussed this decision and our rationale with our partners at the city and look forward to other opportunities for the remaining undeveloped land.”…