Stillwater, CrossHarbor Begin Fort Worth Development
- Jun 25, 2020
Stillwater Capital Investments is expanding its Texas holdings with the development of Stillwater Crystal Springs, a 387-unit, Class A+ apartment community in Fort Worth, Texas. The developer is teaming with CrossHarbor Capital Partners on the project with the first units scheduled to deliver in early 2022.
The multifamily property will offer studio, one- and two-bedroom units. Each apartment will have stainless steel appliances, custom cabinetry, quartz countertops, faux wood floors and modern finishes. Community amenities will include an elevated amenity deck with a resort-style pool, courtyard with outdoor lounge area and fire pit, coworking space, a dog park, bike storage, fitness center, WiFi in all common areas, controlled building access and garage parking. Stillwater Crystal Springs will also have direct access to the Trinity Trail.
The development is situated on 6.9 acres along the West Fork Trinity River in the River District, a 287-acre master-planned neighborhood approximately 3 miles west of downtown Fort Worth. It is also the initial phase of a 14-acre mixed-use project planned by Stillwater on the elevated bank of the Trinity River. It will eventually also consist of restaurants, office and retail components.
The neighborhood is minutes from Lockheed Martin’s regional facility at the Naval Air Station Joint Reserve Base. Residents of Stillwater Crystal Springs will be close to major thoroughfares as well as West 7th and Magnolia Street. Retail and restaurants located nearby include Heim Barbecue, Tim Love’s Gemelle, Salsa Limon and Flowers on the Square. Stillwater Crystal Springs is named after Crystal Springs Dance Pavilion, a dance hall and swimming hole that was popular from 1930s to the 1960s and known as the birthplace of Western Swing and a well-known country music venue.
In December, Stillwater began construction of a 372-unit, Class A multifamily project in Austin, Texas. The property is being developed in partnership with Sweid & Sweid and is slated for completion in summer 2021.
In March, CrossHarbor and its joint venture partners Panther Residential Management and Integra Land Co. sold Integra Sunrise Parc Apartments, a 300-unit luxury multifamily property in Kissimmee, Fla., to Bluerock Real Estate for $67 million.