HomeMy WebLinkAboutIR 045 (3) INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 23-045
To the Mayor and Members of the City Council February 21, 2023
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SUBJECT: UPDATE ON DEVELOPER SELECTION FOR TEXAS A&M
rrn FORT WORTH CAMPUS PROJECT
The purpose of this report is to provide an update on the selection of a real estate developer to
help realize the City, Tarrant County, and Texas A&M University System's (TAMUS) shared
vision to create a development that acts as a hub for collaboration between key Fort Worth
industries and top research, education, and TAMUS workforce training assets, referred to herein
as the Project.
In June of 2022, the City entered into a services agreement with U3 Advisors, Ltd. to assist with
development and completion of a Request for Proposals (RFP) to select a best-in-class developer
to design, construct and manage the Project
The RFP was issued by the City in collaboration with TAMUS on September 22, 2022 with
responses due on December 7, 2022. Five proposals were received and evaluated by an eight-
member selection committee (Committee) comprised of representatives from the City, Tarrant
County, TAMUS, and industry experts.
Developer Selection Committee
City of Fort Worth Steve Cooke, Property Management Director
Robert Sturns, Director Economic Development
Kim McCuistion,Associate Vice Chancellor and Director Texas A&M Fort Worth
Texas A&M -Fort Worth Campus
Robert Ahdieh,VP Professional Schools& Programs, Dean-Texas A&M
University Law School
Tarrant County GK Maenius, County Administrator
John Goff, Goff Capital Partners
Industry/Community Brian Newby, Managing Partner, Cantey Hanger LLP
Melissa Konur, Planning Director, Downtown Fort Worth Inc.
Proposals were received from Caddis Partners, Lincoln Property Company, Ancora,
Edgemoor+KDC, and Hunt Companies Inc. Three developers were chosen by the Committee to
interview. After interviews and careful deliberation, the Committee recommends moving forward
with the Edgemoor+KDC development team. This team will include Smith Group + Bennett
Partners for design, Clarke/Byrne for construction, JLL for commercial leasing, and ACARI
Management Group for community engagement.
Selection Criteria
Below are the criteria used to evaluate the proposals.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 23-045
To the Mayor and Members of the City Council February 21, 2023
Page 2 of 2
i
SUBJECT: UPDATE ON DEVELOPER SELECTION FOR TEXAS A&M
r rA FORT WORTH CAMPUS PROJECT
Proposal fulfills the projectvision stated in the RFP in a manner that
Project Vision 30% aligns with the expectations of the Cityof FortWorth. the A&M System_
and Tarrant County-
Capacity to Execute 35% Proposal demonstrates abilityto execute the proposed plan in a
timely.cost-efrective manner.
Transaction Structure & Proposal demonstrates thatthe proposed vision can be executed in a
Financial Feasibility 35% mannerthat is viable for and financiallyattractive to the Cityof Fort
Worth_A&M System-County- or other participating parties_
The Committee selected the development team of Edgemoor+KDC because they:
• Presented a compelling vision of a campus that meets TAMUS goals and engages
innovative companies from the business community as well as local community interests;
• Provided the Committee utmost confidence in their ability to be a responsible partner
throughout the lifetime of the Project and collaborate with TAMUS's work on the Law
School Building (being designed and constructed solely by TAMUS), and to be responsive
to evolving challenges during design and construction; and
• Provided a compelling conceptual design, as well as the openness and flexibility to work
with the multiple stakeholders involved to refine the concept and create what will be an
exemplary, standout development for Downtown Fort Worth.
Next Steps
The City, either itself or through an LGC created by the City, will enter into exclusive negotiations
with Edgemoor+KDC to finalize the general terms of an agreement for the design and construction
of two buildings and the campus plaza, along with the requisite real estate transaction documents
and master agreement with TAMUS necessary to facilitate the Project.
If you have any questions or need additional information, please contact Roger Venables,
Aviation System Director, at 817-392-6334.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS