The real estate firm owned by Cayman Islands billionaire Ken Dart is expanding its holdings in Fort Worth, Texas, in a move that could add to its development plans in the city.
Dart Interests, a Dallas-based real estate investment firm, recently acquired a 4.6-acre site in downtown Fort Worth adjacent to the library property it purchased from the city in May 2023, as CoStar News previously reported, to make way for future development, the company told CoStar News. Terms of the land acquisition were undisclosed. Last year's purchase of the 2.3-acre library site was expected to make way for two 20-story towers that could either be residential or a mix of residential and commercial uses, city officials said at the time, as CoStar News reported.
"This expansion marks another step forward in Dart’s long-term commitment to Fort Worth, enhancing the area's connectivity and contributing to the vibrancy of downtown," Heath Townsend, vice president of development for Dart Interests, told CoStar News in an email. He declined to share any details on what the firm is considering to build.
Along with the tracts of land, Dart Interests also acquired a four-story, 142,866-square-foot office building at 300 Burnett St. that it plans to continue operating as an office building for tenants. U.S. Health Group is the building's largest tenant, according to CoStar data. The firm acquired the property from Farmers & Foresters, with the county appraisal district last valuing the property at nearly $8.7 million.
The addition of the acreage and office building to Dart Interests' real estate portfolio "aligns with the company's vision for enhancing the public realm" and supports Fort Worth's "evolution as a vibrant urban center," Townsend told CoStar News. The company's expansive real estate portfolio includes development plans for a luxury resort on the Florida coast in Orlando and high-rise luxury condominiums in New York City's Upper East Side.
"Additional project details will be shared as planning progresses, and Dart Interests looks forward to engaging with our neighbors and the community," Townsend added in his email.
Dart, the founder of Dart Interests, is a billionaire businessman whose father founded Dart Container Corp., which owns the Solo brand that makes food containers and the iconic Solo cup. In his company bio, he is described as an explorer as well as an investor and innovator.