The $200 million West 7th project has delayed its grand opening amidst development changes.

The grand opening for the West 7th Development project has been pushed back to March 2010 as development changes take place. The development team of Cypress Equities has made plans to cancel the hotel development and instead replace it with more multi-family homes.
Given the slowdown of the hotel industry in Fort Worth, the developers of the West 7th project, including Kirk Williams, vice president of development for Cypress Equities, have decided to instead set their sights on multifamily housing that will produce rental income for the development.
Other changes to the West 7th project include: putting a hold on the construction of the second office building until a new tenant can be secured; and eliminating Fort Worth City Market from the project.
Positive signs of the West 7th project include: the completion of several retail spaces and the extension of the Lofts at West 7th, following the termination of the boutique hotel project. The expansion of the Lofts at West 7th, if approved, will add 100 more units to the development.
Cypress Equities is considering the expansion of the Lofts at West 7th primarily because it will be the only new construction of rental apartments along the West 7th Corridor. The Lofts at West 7th opened to its first residents on September 12. Currently, 77 of the 345 apartments have been leased.
The property is being managed by Lincoln Property Company, a Dallas-based company.
About the West 7th Project
Located along West 7th Street in Fort Worth, the West 7th Project will include 106,000 square feet of office space; 345 apartment homes; and 240,000 square feet of retail and restaurant space.
Four retail tenants are expected to open in October and two tenants are sited to move into the office portion of the development in late November.