A new, 68,000-square-foot, mixed-use development called "The 701" is coming to the busy corner of Hemphill Street and West Magnolia Avenue on Fort Worth's Near Southside.
Dodson Commercial Real Estate will break ground on the project in a ceremony at 10:30 am Thursday, March 4, a press release says.
Named "The 701" for its actual address — 701 W. Magnolia Ave. — the development will maintain the 1920s, two-story cornerstone building currently home to Shinjuku Station restaurant and Panther City Salon.
Sleek new additions will include:
- A new, 3,700-square-foot restaurant building fronting West Magnolia Avenue.
- A new, three-story office and retail building anchored by architecture firm VLK Architects. VLK will occupy the entire top floor, about 26,000 square feet. The building includes a ground-floor restaurant and retail spaces and a second story for offices or medical tenants.
- A vibrant pedestrian plaza with shop spaces and patios.
- A new, on-site 200-car parking garage.
“The 701 is the first of its kind Class A mixed-use project on the vibrant West Magnolia corridor," says Dodson Commercial Real Estate managing partner Ryan Dodson in the release. "We realize the significance of this opportunity and have worked carefully with the Near Southside and the VLK team to thoughtfully integrate modern office, retail, restaurant, and structured parking with the charm and character of the historic buildings in the area."
He says the project is expected to bring more than 100 "high-paying" jobs to the area.
The significant Near Southside complex adds one thing that the corner desperately needs: more parking. The additional parking garage, along with the pedestrian walkway, will add connectivity to the bustling corner of Magnolia.
“We’re really excited about the project and what it delivers to our community on multiple fronts: sensitive preservation of those treasured historic buildings; new distinctive landmark buildings that complement their older neighbors; the central public plaza activated by local shops; and an extension of Magnolia’s energy around the corner to that key section of Hemphill,” says Mike Brennan, president of Near Southside, Inc.
The project is expected to be completed in early 2022.