Royal Capital breaks ground on $61 million Evans & Rosedale project

Royal Capital will break ground on its $61 million Evans & Rosedale mixed-use development during a public ceremony and block party on Saturday, Dec. 12, the company announced. The event runs from 11 a.m. to 4 p.m. in Fort Worth’s Historic Southside neighborhood, according to the company’s event notice.

What happens at the groundbreaking?

The long-awaited celebration will begin with speakers and a shovel ceremony. Lunch will follow immediately, with family-friendly festivities continuing through the afternoon, the event notice says.

Representatives from Royal Capital, City of Fort Worth leadership and the Historic Southside Neighborhood Association will speak. Guests can RSVP through the Evans & Rosedale webpage.

“The Evans & Rosedale Urban Village represents an exciting investment in the future of Fort Worth’s Historic Southside,” said District 8 Councilmember Chris Nettles.

“This development honors the area’s rich legacy of Black entrepreneurship and community leadership while creating new opportunities for housing, economic growth and neighborhood connection. We are building on the foundation laid by those who came before us, while creating a future that residents and generations to come can be proud of.”

“We’re pleased to bring Evans and Rosedale to life after decades of effort and attempts by others,” said Kevin Newell, founder and CEO of Royal Capital.

“Our national Lifestyle Campus model coming to Fort Worth and the Historic Southside is fitting, given the history and fabric of this neighborhood.”

“Our community is looking forward to celebrating this important milestone that both honors our roots and builds our future,” said Kristina Banta, president of the Historic Southside Neighborhood Association.

How did the plan take shape?

Royal Capital joined the project in March 2024, after being announced as the Evans & Rosedale developer in 2023. The Milwaukee-based company then hosted a fireside chat and a block party visioning event.

More than 100 resident responses from those sessions helped shape the preliminary plans, according to Royal Capital. That community input preceded the company’s property closings in mid-October.

Why does the location matter?

Royal Capital’s account describes Historic Southside as a former hub of Black commerce and a home to many of Fort Worth’s—and even the nation’s—first Black entrepreneurs. It identifies William Madison “Gooseneck” McDonald and Dr. Riley Andrew Ransom Sr. among them.

The neighborhood was later selected for the National Juneteenth Museum. Dr. Opal Lee, a neighborhood resident known as the “Grandmother of Juneteenth,” drove the initiative, according to the project announcement.

Earlier this month, the old Southside Community Center was demolished to clear the way for museum construction. The demolition occurred on Dr. Lee’s 100th birthday.

What will Evans & Rosedale include?

According to the project announcement, the mixed-use development is set to include:

• A minimum of 180 affordable residential units, including senior units, family units, stacked flats and live-work units.
• 15,700 square feet of commercial space, including two restaurants, a fitness center, a business center, a coffee shop and more.
• At least 3,000 square feet of that commercial space dedicated to a grocery concept.
• Surface, garage and street parking for a minimum of 283 spaces.
• Parks and common area green spaces.

How is the project financed?

Royal Capital is committing $61 million toward the project, including $48 million for hard construction costs. The City of Fort Worth is providing $8.5 million in grants and forgivable loans.

Up to $7 million of the city commitment will cover public infrastructure through the Southside Tax Increment Finance District (TIF 4), according to Royal Capital’s project announcement. The City also participates as a general partner through the Fort Worth Housing Finance Corporation.

The Fort Worth Housing Finance Corporation and the Fort Worth Local Development Corporation contributed land for the development.

The public commitment is much smaller than the construction pool: $8.5 million versus $48 million. The financing pairs forgivable public support and contributed land with Royal Capital’s larger project commitment.

Royal Capital completed the property closings in mid-October. Preliminary site grading is expected to begin in early November, according to the company.

Royal Capital’s timetable now runs from mid-October property closings to early-November grading and the Dec. 12 ceremony. The 180 affordable homes and 15,700 square feet of commercial space remain the measurable targets ahead.