State permit approval delays progress at RiversEdge

Construction of the marina planned at RiversEdge is experiencing delays as the developer awaits state approval for the necessary permit to begin work.

According to Downtown Investment Authority CEO Lori Boyer, state cabinet meeting cancellations have delayed the votes for the permit and associated submerged land lease.

“That permit has been submitted to the state for a while and it is my understanding that it got again deferred because the cabinet meeting was canceled,” Boyer said at the DIA’s October board meeting. “They can’t proceed with the parts that are impacted by that.”

The delay is impacting several projects covered by the marina permit, including reconstruction of a section of the Southbank bulkhead, the kayak launch, a water taxi stop and other components. Work continues, however, on the development’s trail and park system, which will include four public parks and a 1,400-foot marsh boardwalk. The RiversEdge parks – Central Park, Marshfront Park, Fitness Park and Northwest Park – are on track to open in 2025.

More than three years in the making, the Southbank development has started seeing visible progress this year: Hardscape work is underway, beginning with Marshfront Park, and passersby can see vertical construction for the Toll Brothers at RiversEdge townhomes.

Now that the city’s 2024-25 fiscal year budget has been passed and stadium negotiations are completed, District 5 City Councilmember Joe Carlucci said the RiversEdge development team plans to reengage with the city for a request for additional funds.

The owner and developer for this project is Dallas-based Preston Hollow Community Capital, LLC.

Ultimately, the 34-acre project will accommodate more than 750 multifamily units, 200 luxury condominiums, a 125-slip marina and 120,000 square feet of retail space. The mixed-use development will also include 200,000 square feet of office space and a 200-room boutique hotel. Its park system will connect to the Emerald Trail and feature art installations, including “The Pearl,” a custom designed piece by New York-based architect Marc Fornes, which will be the project’s centerpiece, installed in the development’s Central Park.