Mid City Times

Royal Capital named master developer for Evans & Rosedale project

Published on August 14, 2024

The Evans & Rosedale community in the Historic Southside has a new master developer committed to moving the project forward. Royal Capital, a Milwaukee-based company with a focus on developing sustainable and comprehensive communities, was ultimately chosen to take the reins of this catalytic project.

Eleven proposals were submitted during the city’s Request for Expressions of Interest (RFEI) process earlier this spring, which were reviewed over the summer by a selection committee composed of City staff and representatives from the Historic Southside Neighborhood Association.

Royal Capital’s submission contained several notable strengths that set their team apart, earning high scores from the committee:

“At Royal Capital, we believe that collaboration is the new innovation,” said Kevin Newell, Royal Capital’s founder and CEO. “With this opportunity to collaborate with the City of Fort Worth and the Historic Southside as the master developer for the Evans & Rosedale opportunity, we believe our core principles of candid-thoughtful-agile will lead to a vibrant place-based community investment that will become a leading destination for live-work-play for many years to come.”

District 8 Councilmember Chris Nettles said: “The intersection of Evans and Rosedale is a landmark of African American history in Fort Worth, symbolizing both the Black cultural richness of the past and ongoing efforts to preserve and revitalize this historic community. I’m excited to work with community members, together with Royal Capital Group, on this redevelopment. I look forward to making sure the redevelopment efforts at Evans & Rosedale are focused on needed economic revitalization that honors the legacy of the area.”

“We were really impressed with Royal Capital’s demonstrated record of success on these types of projects,” said Robert Sturns, director of economic development for the City of Fort Worth. “They prioritize community engagement and the utilization of business equity firms, which was also a major priority for both the city and Historic Southside residents. The Royal Capital team also has a deep understanding of how redevelopment projects like Evans & Rosedale can be a catalyst that reinvigorates a neighborhood, creating a springboard for additional growth and investment.”

The Fort Worth Local Development Corporation (LDC) will receive a briefing about Evans & Rosedale on Sept. 24, and a community feedback session will be scheduled shortly afterward for neighborhood residents and businesses to meet the development team, ask questions and provide input in an informal setting.

Additional information about these events will be posted on the Evans & Rosedale webpage as more details become available.

The Royal Capital team plans to dedicate the rest of 2024 to defining specifics of the project while working alongside both the City and community members to finalize plans for the site.

The City launched another Request for Expressions of Interest (RFEI) earlier this spring to find a new master developer for Evans & Rosedale urban village. The opportunity allows an experienced mixed-use developer to work on a multi-block, six-acre greenfield site located five minutes from downtown.

The Evans & Rosedale properties are part of Historic Southside – formerly a hub of Black commerce home to many renowned Black entrepreneurs such as William Madison McDonald, Texas's first Black millionaire; and modern icon Ms. Opal Lee – known as “the grandmother of Juneteenth.” The site has already seen more than $30 million in public investment over two decades.

___