January 19, 2009 - WestBend Project - Trademark Property, Fort Worth TX

Trademark Property halts development on University

Citing unstable economic and capital markets, Fort Worth-based Trademark Property Co. has stopped work on its $100 million WestBend project in Fort Worth.

Trademark Property halts development on University

Citing unstable economic and capital markets, Fort Worth-based Trademark Property Co. has stopped work on its $100 million WestBend project along University Drive in Fort Worth.

In a company statement released Jan. 14, Trademark President Terry Montesi said the company chose to place the development on temporary hold until late 2010 or early 2011, adding that key retail anchors for the project – which have yet to be named – are supportive of the delay.

Trademark partnered with RP Partners, the owners of River Plaza, the 120,000-square-foot office building at 1701 River Run, and other investors to construct the 350,000-square-foot mixed-use project. The partnership purchased 7 acres for the development, which includes the 11-story River Plaza building and the Silver Fox restaurant along University Drive. WestBend plans call for a hotel in addition to shopping, restaurant and office space to rest between University Drive and the banks of the Trinity River. Trademark had earlier announced that a 140-room Hyatt Place hotel would be part of the development.

Original Story - Fort Worth Business Press