Mid City Times

The City of Fort Worth has decided to terminate its contracts with Hoque Global in relation to the Evans and Rosedale redevelopment project. The decision was made due to various factors such as inflation, interest rate increases, and a slowdown in commercial development, which have all led to significant delays in the project.

According to the city officials, key deadlines have not been met, despite granting extensions to Hoque Global. This decision comes after the city began a call for developers in December 2018 and held workshops in February to gather feedback from the community regarding the vision for the development.

"The termination of the current contracts and the introduction of new partners is an effort to reinvigorate this important project and accelerate its delivery," said a spokesperson from the City of Fort Worth. The aim is to see construction begin by early 2025. Despite the termination, the funds allocated to the project have not been used and are still available for the future progress of the project.

The City of Fort Worth remains committed to the revitalization of the Historic Southside Neighborhood and the overall economic and cultural growth of the area. This commitment to the neighborhood has been a part of the plan from the beginning.

The termination of the contracts with Hoque Global is seen as a strategic move by the city to overcome the delays and ensure the successful completion of the Evans and Rosedale redevelopment project. With the introduction of new partners, the city hopes to breathe new life into the project and bring it back on track.

The decision has been met with mixed reactions from the local community. Some residents are relieved that action is being taken to address the delays, while others express concerns about the future of the project and the impact on the neighborhood.

Despite the setbacks, the city remains optimistic about the future of the Evans and Rosedale redevelopment project. With renewed determination and the involvement of new partners, the city aims to achieve the envisioned transformation of the area and create a vibrant and thriving community.

As the City of Fort Worth moves forward with the redevelopment project, it will continue to engage with the community and seek their input to ensure that the revitalization efforts align with the needs and aspirations of the residents.

In conclusion, the termination of the contracts with Hoque Global marks a significant development in the Evans and Rosedale redevelopment project. The City of Fort Worth is determined to overcome the delays and bring the project back on track with the involvement of new partners. The ultimate goal remains the revitalization and economic growth of the Historic Southside Neighborhood, as envisioned by the community.

Click this link to access more information: https://www.fortworthtexas.gov/news/2023/12/evans-rosedale-contract