Will Fort Worth’s New Panther Island Riverwalk Really Rival San Antonio?

Strategic market intelligence from North Texas Market Insider | Bobby Franklin, REALTOR®

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Let me be direct with you: while most agents are still talking about Panther Island like it’s a future concept, construction equipment is already moving dirt.

February 2026 just became a pivot point in Fort Worth real estate history. The U.S. Army Corps of Engineers broke ground on the northern section of the 1.5-mile bypass channel. Nearly $60 million in additional funding landed. The first 300-unit apartment complex is entering site preparation. And most agents in the DFW market? They’re still treating this like it’s five years away.

That’s the difference between reactive agents and strategic ones.

I’m Bobby Franklin with Legacy Realty Group on the Leslie Majors Team, and I operate as the North Texas Market Insider because I don’t wait for market shifts to become obvious. I track them before they’re news. This is your complete strategic briefing on Fort Worth’s Panther Island project, what’s actually happening, what it means for property values, and most importantly, what you should do about it right now.

The Strategic Reality: What Panther Island Actually Is (And Why It Matters)

Here’s what you need to understand first: Panther Island isn’t just a real estate development. It’s a flood control megaproject that happens to unlock 338 acres of prime urban waterfront.

The Tarrant Regional Water District and the Army Corps are carving a new 1.5-mile bypass channel through Fort Worth’s Trinity River system. This isn’t cosmetic. This is engineering infrastructure that will:

• Protect over 2,400 acres of Fort Worth from catastrophic flooding
• Shield nearly 3,000 households and 750 businesses from the Trinity River’s periodic devastation
• Create an actual island between downtown Fort Worth and the historic Northside neighborhood
• Unlock 338 acres of developable waterfront once the old levees come down

According to Army Corps analysis, every dollar invested in this flood protection prevents $15 in flood damage. That’s not speculation, that’s engineering data from the federal government.

But here’s where it gets interesting for real estate: once that bypass channel creates the island and those old levees are eventually removed, Fort Worth gains something no other major Texas city has, a completely planned, blank-canvas, mixed-use urban waterfront district with integrated canals, parks, housing, retail, and office space.

San Antonio’s famous River Walk evolved organically over decades, with all the inefficiencies and compromises that come with retrofitting development around existing infrastructure. Fort Worth is building Panther Island from scratch with 21st-century urban design principles, modern flood engineering, and a canal system specifically designed to create a walkable, livable, economically vibrant neighborhood.

Translation: Fort Worth is attempting to compress 50 years of waterfront evolution into a 10-year construction timeline. And they seem to be doing it right.

The Money Behind The Vision: $1.16 Billion in Funding (And Where It’s Coming From)

Let me walk you through the financial timeline, because this tells you everything about momentum and risk:

Federal Investment: $463 Million+ Secured

• Pre-2021: Approximately $60 million in earlier appropriations during Bush and Obama administrations
• 2022: Infrastructure Investment and Jobs Act delivers $403 million to the Army Corps for Panther Island construction
• 2024: Additional $20 million for design and engineering
• 2026: Another ~$60 million injection bringing the federal total above $463 million

Local Investment: $50+ Million and Rising

The Tarrant Regional Water District has committed substantial local funding:

• 2026 budget: $12.4 million allocated specifically for the first east-west canal construction
• Multi-year commitment: Over $50 million earmarked for canals, parks, and public infrastructure

The New Revenue Engine: Public Improvement District

Here’s where it gets strategic. The Fort Worth City Council is establishing a Public Improvement District (PID) that will levy ongoing assessments on property owners within Panther Island boundaries. A public hearing happened February 10, 2026 to formalize this.

What does this mean for buyers?

• Property owners will pay 2 cents per $100 of assessed value initially, potentially rising to 16.5 cents per $100 as improvements are completed
• This funds canal maintenance, lighting, landscaping, security, and streetscape upgrades
• Even TRWD — which is tax-exempt — has committed to paying the maximum assessment rate to jumpstart the revenue model

Strategic insight: That PID structure tells you the city is creating a self-sustaining funding mechanism. This isn’t dependent on annual appropriations or political whims. Once operational, Panther Island will have a built-in revenue stream to maintain and enhance the district indefinitely.

The remaining funding gap — approximately $700 million — primarily covers:

• Southern half of the bypass channel
• Samuels Avenue Dam
• Critical pump station and three floodgates
• Complete levee removal

Expected completion of the core flood control infrastructure? 2032.

The Construction Timeline That Actually Matters for Buyers

Let me break down what’s happening when, because timing is everything in real estate strategy.

Right Now (2026): Active Construction Phase

• Spring 2026: Northern bypass channel construction begins near the Main Street Bridge
• This was delayed from early 2025 due to federal Project Labor Agreement disputes — now resolved
• Summer/Fall 2026: TRWD starts building the first east-west canal section — the internal waterfront that will anchor early development
• Late 2026: Seco Ventures begins site work on a 300-unit apartment complex at 508 N. Main St. — the first major residential building on the island

What this means: You can literally drive to Panther Island today and watch construction crews working. This is not theoretical anymore.

Near-Term (2027-2029): Infrastructure Completion Accelerates

• 2027-2029: Northern bypass channel wraps up (approximately 3-year construction cycle)
• 2029: North University Drive gets raised 12-15 feet as a permanent flood buffer, major infrastructure milestone
• Throughout this period: Southern bypass channel design finalized and construction begins

Medium-Term (2029-2032): Core Project Completion

• Flood gates installed
• Pump station operational
• Samuels Avenue Dam completed
• Full flood control system completion: ~2032

Long-Term (2032+): The Full Vision Unlocks

• Old levees removed (estimated 12+ years from now(Feb 2026) per TRWD timelines.
• All 338 acres become fully developable waterfront
• Canal system connects to bypass channel and Trinity River
• Complete buildout of residential, commercial, retail, and park districts

Strategic buying window: We’re entering the phase where the infrastructure is being built but the full property value implications haven’t fully materialized. Properties near Panther Island today are priced on current fundamentals, not on 2032 or 2035 completion values.

That’s the opportunity, if you’re buying with a 10-15 year hold horizon.

What Fort Worth’s Panther Island Will Actually Look Like (And Why the San Antonio Comparison Matters)

Everyone keeps asking: “Is this really going to rival the San Antonio River Walk?”

Let me give you the honest strategic analysis:

San Antonio River Walk: The Benchmark

The San Antonio River Walk is the most economically successful urban waterfront project in Texas. Period. Here’s what it produces annually:

• $3.1 billion in economic impact (City of San Antonio data)
• 31,000+ jobs supported by visitor spending
• ~10 million non-resident visitors per year
• $2.4 billion in annual non-resident visitor spending

It’s a proven economic engine that transformed downtown San Antonio from a declining urban core into one of the most visited tourism destinations in Texas.

Fort Worth’s Panther Island: The Strategic Difference

A 2014 University of North Texas economic impact study projected that a fully built-out Panther Island could generate:

• $3.7 billion in annual economic activity – actually exceeding San Antonio’s River Walk
• 29,600+ full-time jobs
• 10,000 housing units
• 3 million square feet of commercial space

But here’s the critical distinction that most people miss: San Antonio’s River Walk is primarily a tourism and hospitality district. Panther Island is being designed as an actual neighborhood where people live, work, and play.

The HR&A Advisors strategic vision report for Panther Island specifically emphasizes:

• 14 distinct parks and open spaces, every location on the island will be within a 5-minute walk of green space
• Mixed-use development with residential, office, retail, and entertainment integrated throughout
• Locally-owned businesses prioritized over national chains to create authentic Fort Worth character
• Walkable, transit-oriented design with tree-lined streets and pedestrian-first infrastructure

Think about what that means: San Antonio’s River Walk is a destination you visit. Panther Island is being planned as a neighborhood you live in that also happens to have world-class waterfront amenities.

That’s actually a more sustainable economic model for long-term property value growth.

How Panther Island Will Affect Fort Worth Property Values: The Data-Driven Analysis

Let’s talk numbers. Here’s what waterfront and park-adjacent development actually does to property values based on proven case studies:

Historical Precedents

The HR&A Advisors report analyzing similar urban waterfront projects found:

• Klyde Warren Park (Dallas): Property values within proximity increased 40% after park completion
• Rose Kennedy Greenway (Boston): Values jumped 50-90% within a quarter-mile radius
• High Line (New York City): Property values within one block increased by an average of 103%

Fort Worth’s Northside: The Leading Indicator

The Fort Worth Historic Northside neighborhood, immediately adjacent to Panther Island, provides our most relevant local data:

• Average appraised property value: ~$225,000 currently
• Appreciation over past 5 years: Over 90% according to Urban Land Institute panel analysis from September 2024

Think about that. Properties directly adjacent to an infrastructure project that hasn’t even completed its first construction phase have already nearly doubled in value over five years.

What happens when that 1.5-mile bypass channel is complete? When the first canal section opens? When 300-unit apartment complexes start delivering residents who want walkable restaurants and retail?

The Honest Risk Assessment

I’m not going to blow smoke: full buildout is 10-20+ years away. Anyone expecting rapid appreciation based purely on renderings and announcements will be disappointed.

Here’s what you need to know:

The Upside Case:

• Infrastructure construction creates immediate economic activity and jobs
• Early residential and commercial development proves the concept by 2027-2028
• Property values near completed infrastructure (canal sections, parks) see measurable increases
• By 2032, with full flood control operational, Panther Island transitions from “construction zone” to “emerging neighborhood”
• By 2035-2040, levee removal unlocks the full waterfront vision and property values compound

The Realistic Case:

• Construction delays and funding gaps push timelines out 2-3 years (fairly typical for megaprojects)
• Property values appreciate modestly during construction phase
• Major value increases materialize 3-5 years after infrastructure completion as development fills in
• Long hold periods required to see substantial appreciation

The Downside Case:

• Federal funding priorities shift and remaining $700M gets delayed
• Economic downturn reduces private development demand
• Property values stagnate or decline during extended construction timelines

My professional guidance: Buy near Panther Island only if you’re planning to hold 10-15+ years minimum. Buy based on today’s fundamentals, neighborhood quality, property condition, comparable sales, your personal housing needs, not on what a rendering promises for 2035.

If your timeline aligns with the project timeline, the opportunity is substantial. If you need appreciation in 2-3 years, look elsewhere.

Fort Worth’s Broader Real Estate Market: Why 2026 Is a Strategic Entry Point

Panther Island doesn’t exist in isolation. Understanding the broader Fort Worth market is critical to making an informed decision.

Fort Worth’s Population and Economic Growth

• Fort Worth surpassed 1 million residents in 2024, overtaking Austin to become the 11th most populous city in the United States
• Annual growth rate: Approximately 2.38%, that’s roughly 24,000 new residents every single year
• Dallas-Fort Worth is the #1 real estate market to watch in 2026 according to PwC/ULI Emerging Trends in Real Estate – a ranking DFW has held for two consecutive years

Fort Worth’s Economic Development Momentum

The Fort Worth Economic Development Partnership has attracted in just the past three years:

• Nearly $10 billion in investment
• 11,000+ new jobs
• 2024 alone: Projects announced represent approximately $2 billion in capital investment and ~2,500 jobs

Fort Worth Housing Market: An Early 2026 Snapshot

Here’s what buyers need to know about current conditions:

• DFW median home price: ~$375,000 (potentially declining toward $350K by mid-2026)
• Fort Worth median home price: ~$330,000
• Price trend: Flat to slightly declining, this is buyer-favorable
• Inventory levels: Rising bringing more selection, less competition
• Mortgage rates: Expected to remain around 6% through 2026
• Market conditions: Shifting decisively toward buyers after several years of seller dominance

Sources: Home Buying Institute, Sandlin Homes Market Analysis, Texas Real Estate Research Center

Strategic insight: This is the combination we look for, rising inventory and stabilizing prices in a city with strong population growth, robust economic development, and massive infrastructure investment.

Translation: buyer leverage is higher than it’s been in years, particularly in areas positioned for long-term growth like Panther Island.

What Else Is Transforming Fort Worth Right Now (And Why It All Compounds)

Here’s what separates strategic market analysis from surface-level observation: Panther Island isn’t the only major development reshaping Fort Worth. When multiple transformational projects happen simultaneously in close proximity, they create compounding economic effects.

Fort Worth Stockyards Expansion: $630 Million

The Fort Worth Stockyards, already one of Fort Worth’s top tourism destinations, is undergoing a massive $630 million expansion adding:

• Boutique hotels
• Chef-driven restaurants
• Entertainment venues
• Upscale retail

Distance from Panther Island: Less than 2 miles north

Fort Worth Convention Center Phase 2: $606 Million

A $606 million expansion adding:

• Additional exhibit halls
• Second ballroom
• Expanded meeting spaces
• Construction start: Late 2026

Distance from Panther Island: Less than 1 mile south

Westside Village: $1.7 Billion Mixed-Use Development

A $1.7 billion development on 37 acres featuring:

• 880,000 square feet of office space
• 238,000 square feet of retail
• 1,785 apartment units
• 175-room hotel

Location: West Fort Worth, expanding the city’s mixed-use footprint

Texas A&M Downtown Research & Innovation Campus

Bringing institutional research, corporate partnerships, and long-term economic stability to downtown Fort Worth’s south end.

Distance from Panther Island: Less than 1.5 miles south

Historic TXU Power Plant Preservation

The century-old power plant on Panther Island is being considered for historic designation and adaptive reuse, potentially becoming a landmark anchor similar to Austin’s Seaholm Power Plant or Denver’s Denver Union Station.

What this means: When a convention center, a waterfront district, a research university campus, and a $630 million entertainment expansion are all happening within a 2-mile radius, the economic multiplier effect is exponential.

The Northside Neighborhood: Gentrification Concerns and What’s Being Done

I need to address this directly, because it matters.

The Fort Worth Historic Northside is a predominantly Hispanic neighborhood with deep cultural roots and multigenerational families. It sits directly adjacent to Panther Island. As property values increase, and they are increasing rapidly, there are legitimate concerns about displacement and gentrification.

The Numbers Tell the Story

• Northside average property value: ~$225,000
• Five-year appreciation: Over 90%
• Demographics: Historically Hispanic working-class neighborhood

What Fort Worth Is Doing About It

City leadership and community organizations are actively working on anti-displacement strategies:

• Mayor Mattie Parker established a community-led action committee specifically focused on preventing Northside resident displacement
• $230,000 initiative funded a national Urban Land Institute panel to study equitable development strategies
• Key recommendations include:
  • Expanded legal aid for legacy homeowners
  • Cultural preservation mapping
  • Affordable housing requirements in new development
  • Property tax relief programs for long-term residents

The HR&A Advisors Panther Island report explicitly states that with 383 acres of public land holdings, Panther Island can “set a new standard for public-private partnerships and equitable real estate development.”

My Position as a Real Estate Professional

I believe every community deserves equitable service and transparent information. Whether you’re:

• A first-time homebuyer looking at the Northside
• A multigenerational Northside family concerned about rising property taxes
• An investor evaluating Panther Island opportunities
• A family relocating to Fort Worth from out of state

…you deserve the same quality of market intelligence, honest guidance, and professional representation. That’s not just my personal standard, it’s the law under the Fair Housing Act and the NAR Code of Ethics.

Frequently Asked Questions About Panther Island and Fort Worth Real Estate

When will Panther Island actually be finished?

The flood control bypass channel should be complete by approximately 2032. Full levee removal and complete waterfront development will extend beyond that, likely into the mid-2030s. However, early development is already happening, with residential construction beginning in 2026.

Can I buy property near Panther Island right now?

Absolutely. The Northside and surrounding areas have homes listed from under $200,000 to over $500,000. Properties near the future island are available today at prices that don’t yet fully reflect long-term development potential.

Critical point: Buy based on today’s value – location, condition, comparable sales, your personal timeline, not on what optimistic renderings promise for 2035.

Will Panther Island really have a riverwalk like San Antonio?

Yes, that’s core to the design. The internal canal system combined with the bypass channel waterfront will create miles of accessible, walkable waterfront with restaurants, parks, and gathering spaces. The design draws inspiration from San Antonio, Indianapolis, and Cincinnati.

How will the Public Improvement District affect my property taxes?

The PID will levy additional assessments on property owners within district boundaries:

• Initial rate: 2 cents per $100 of assessed value
• Maximum rate: Could increase to 16.5 cents per $100 as improvements are completed
• This is in addition to standard property taxes

For a $300,000 property, that’s $60-$495 annually depending on assessment level.

Is Fort Worth a good place to invest in real estate in 2026?

According to PwC and the Urban Land Institute, Dallas-Fort Worth is the #1 overall real estate market in the United States for 2026, a ranking held for two consecutive years.

Fort Worth’s combination of population growth, job creation, corporate relocations, and infrastructure investment makes it one of the strongest long-term plays in American real estate.

What neighborhoods should I consider near Panther Island?

Primary areas to evaluate:

• Fort Worth Northside — Historic neighborhood directly adjacent, most immediate impact
• Near Southside — South of downtown, walkable to Panther Island
• West 7th District — Established mixed-use area, proven demand
• Cultural District — Museums, parks, established infrastructure

How does Panther Island compare to other waterfront developments?

Similar projects for reference:

• San Antonio River Walk — $3.1B annual economic impact, 31,000 jobs, tourism-focused
• Austin Lady Bird Lake Trail — Sparked massive urban core revitalization
• Indianapolis Canal Walk — Transformed downtown into walkable mixed-use district
• Cincinnati Banks Project — Riverfront parks and development, $130M investment

Panther Island’s scale and integrated design put it among the most ambitious urban waterfront projects in the United States.

What You Should Do Next: The Strategic Action Plan

Fort Worth isn’t just growing, it’s transforming. Panther Island represents the single largest urban redevelopment in the city’s history, and unlike most megaprojects, this one has secured funding, broken ground, and entered active construction.

Whether you’re:

• Buying your first home in one of America’s fastest-growing cities
• Investing in property near a multi-billion-dollar development district
• Selling your current home to capitalize on Fort Worth’s core neighborhood appreciation
• Relocating to North Texas and trying to understand where growth is heading

…having a real estate professional who understands both macro-level market forces and block-by-block nuances is your most valuable asset.

Here’s what I offer that most agents don’t:

1. Market Intelligence, Not Just Market Access

I don’t wait for developments to become news, I track building permits, infrastructure projects, zoning changes, and economic indicators before they’re announced. That intelligence becomes your competitive advantage.

2. Strategic Thinking, Not Just Transaction Processing

I approach every client relationship like Cory Ellison approaches corporate chess — five steps ahead. Your real estate decision isn’t isolated; it’s part of your larger financial strategy, family goals, and life timeline.

3. Execution Discipline, Not Just Good Intentions

I run my business with execution intensity, daily market monitoring, systematic client communication, and relentless follow-through. You’ll never wonder where I am or what’s happening with your transaction.

4. Long-Term Relationships, Not Just Closed Deals

I’m building a real estate practice for decades, not quarters. That means honest guidance even when it costs me a transaction, transparent communication about market risks, and prioritizing your long-term interests over my short-term commission.

Let’s Talk About Your Fort Worth Real Estate Strategy

I’d love to have a conversation about your specific situation. No pressure, no obligation, just honest strategic guidance rooted in data and local expertise.

Whether you’re ready to move forward immediately or just starting your research, getting market intelligence from someone who tracks this stuff daily is worth a 15-minute phone call.

Here’s how to reach me:

📲 Call or text: 214-228-0003
🌐 Website: northtexasmarketinsider.com
📧 Email: [email protected]
📍 Service Area: Ellis County, Hill County, Johnson County and the entire Dallas-Fort Worth metroplex

I specialize in:

• First-time homebuyers navigating a complex market
• Relocation clients moving to North Texas (especially from California, Colorado, Arizona, Utah, and Washington)
• New construction in the $225,000-$700,000 range
• Strategic investment property analysis
• Buyers who value market intelligence over generic advice

The Bottom Line: Chaos Is Opportunity If You’re Positioned Correctly

Fort Worth is in the middle of a once-in-a-generation transformation. Most people see construction, traffic, and uncertainty. I see opportunity for those who are strategically positioned and patient.

Panther Island will take close to a decade to fully realize its vision. Property values won’t skyrocket overnight. There will be delays, funding challenges, and market cycles along the way.

But here’s what I know with certainty: Fort Worth is already adding 24,000 new residents every single year. The city has secured over $3 billion in development projects currently under construction or in advanced planning. The Dallas-Fort Worth metroplex is the #1 real estate market in America according to institutional research.

And while everyone’s waiting for Panther Island to be “finished,” the smart money is positioning now, during the construction phase, before the infrastructure is complete, while prices still reflect today’s fundamentals rather than tomorrow’s potential.

That’s the Insider strategic framework. That’s what separates market intelligence from market reaction.

Let me help you apply it to your specific situation.

For more information about the latest developments across the Dallas – Fort Worth Metroplex, visit our Developments Page.

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Bobby Franklin, REALTOR®
Legacy Realty Group – Leslie Majors Team
📲 214-228-0003 | northtexasmarketinsider.com

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This article reflects market conditions and project information as of February 2026. All projections are based on publicly available sources and should not be construed as guarantees of future performance. Real estate decisions should be based on individual financial circumstances, and buyers are encouraged to conduct their own due diligence. This content represents original market analysis and complies with Fair Housing Act requirements, RESPA regulations, NAR Code of Ethics standards, and Texas Real Estate Commission advertising guidelines.

Mortgage Financing Disclosure: When discussing financing options, I work with multiple qualified lenders to provide my clients with competitive options and maintain compliance with RESPA (Real Estate Settlement Procedures Act). My preferred lending partners include:

• Denise Donoghue, The Mortgage Nerd — yourmortgagenerd.com
• Andrew Bryan, Miramar Mortgage — miramarmortgage.com
• Ethan Hester, Midtex Mortgage — mid-texmortgage.com

I receive no compensation for these referrals and encourage all clients to shop multiple lenders to find the best terms for their situation. I do, however, strongly recommend them based on personal experience. I’ll never recommend someone that I haven’t already used myself.