December 3, 2022

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Majestic Realty Is Remaking Fort Price’s Stockyards

Majestic Realty Is Remaking Fort Price’s Stockyards

Majestic Realty’s current acquisition of the Stockyards Lodge, its restaurant, and saloon started with a chilly name. The consumers couldn’t determine who owned it, even after in depth analysis. “We left a message with the entrance desk and mentioned, ‘Please have the proprietor name,’” says Craig Cavileer, govt vice chairman at Majestic. Bob McLean, who had owned the property for the previous 35 years, responded and agreed to fulfill with Cavileer and Kayla Wilkie, director of design and improvement. Quickly after, they shook arms on a deal. Phrase of the sale leaked out, and a bidding conflict ensued, however McLean’s phrase was gold. “It’s simply genuine Texas enterprise and hospitality,” Wilkie says.

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Dynamic Duo Craig Cavileer and Kayla Wilkie are main the remake of Fort Price’s Stockyards district.

The high-profile property is the latest addition to California-based Majestic Realty’s redevelopment mission in Fort Price’s historic leisure district. The corporate first partnered with Hickman Cos. of Fort Price on the mission in 2014, when actual property icon Holt Hickman was beginning to craft a legacy plan for the 70 acres he owned within the Stockyards.

His son and daughter wished to do greater than typical preservation, they usually sought Cavileer’s assist. A public-private partnership was shaped between Majestic, Stockyards Heritage Improvement Co., and the Metropolis of Fort Price to take the mission to the subsequent stage.

The $200 million plan included the adaptive reuse of the world’s mule barns right into a mixed-use buying and restaurant haven referred to as Mule Alley, which opened in June 2020, and the development of Lodge Drover, a 200-room luxurious Western lodge. Two years after opening, Mule Alley has attracted nationwide manufacturers similar to Ariat and Lucchese and restaurateurs Tim Love and Marcus Paslay.

Majestic has employed greater than 500, making it one of many largest employers in Tarrant County. Lodge Drover opened in 2021 to constructive critiques and was lately named the perfect lodge in North Texas by Journey + Leisure. “It was undoubtedly a labor of affection,” says Wilkie, who took the lead on Drover’s design after becoming a member of Majestic in 2018.

Now, she and Cavileer are bringing the identical approachably luxurious and Western really feel to a 300-unit multifamily improvement slated for completion within the Stockyards in 2025. “It’s not a repeat of the Drover, but it surely’s the identical type of DNA,” Cavileer says. Facilities will embody a rooftop infinity pool, out of doors neighborhood space, golf simulator, and extra.

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Native Aptitude Wilkie and Cavileer included design components from DFW distributors all through the Drover.

Majestic is also creating 15 acres  close to the turntable contained in the Stockyards, on East Trade, which is able to home outlets, workplaces, extra motels, and doubtlessly a brand new headquarters for Skilled Bull Riders—the sports activities group plans to maneuver from its long-time house in Colorado. They’re calling this mission “The Pageant District,” hoping it’ll present much more leisure choices to guests.

“We’re including extra to provide individuals extra to do—extra causes to be on the Stockyards,” Cavileer says. “I don’t suppose Van Gogh painted for cash; he painted as a result of he beloved it. We’re doing this as a result of we like it, and we hope we make a little bit cash and make it worthwhile.”

A complete of $500 million goes towards revamping the Stockyards. Renovations to the kitchen at H3 Ranch have already been accomplished. Work on the lodge is quickly to observe; planning has already commenced. Wilkie says the redesign will honor the lodge’s wealthy historical past (see sidebar) balanced with a boutique really feel. “The historical past lives on as a result of we put the time into it to guarantee that it’s welcomed and appreciated,” she says.   

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Kelsey Vanderschoot

Kelsey Vanderschoot

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Kelsey J. Vanderschoot got here to Dallas by means of Napa, Los Angeles, and Madrid, Spain. A former trainer, she joined…