100 townhomes, grocery store and more coming to this Fort Worth suburb

The eastern gateway in to Bedford is getting a major makeover with over 100 town homes, shops and green space.

The City Council voted unanimously Tuesday to sell 18.77 acres at 205, 209 and 401 N. Industrial Blvd. to Dickerson Development Company and StreetLevel Investments for $7.3 million.

Dickerson will handle the residential portion of the project and is working with David Weekly Homes on the townhomes. Street Level Investments is handling the commercial projects.

In December of 2021, Bedford purchased the property from Cross City Church (formerly First Baptist Church of Euless) for $9.5 million so that the city could have a say in future development of the property. City manager Andrea Roy said the property sold for less than the original purchase price because of a lower appraisal in 2023.

Roy said high interest rates and inflation are creating challenges in the commercial real estate market.

“Commercial is a different beast” she said.

But Bedford will see additional revenue since the land will lose its tax exempt status. Information from the city shows that the combination of commercial and residential development will bring in around $680,000 annually in property and sales tax.

The development will provide lots of opportunities for people to shop, eat and spend time outdoors.

“The property reshapes the entrance to our community,” Roy said. “It will spur redevelopment in the area.”

Bedford was approached with other plans for the property such as a convenience store and an auto repair business, but there was no cohesive mixed use development plan.

David Weekly Homes will build 106 townhomes starting at around $450,000. They will have a “classic look” with brick and stone, according to information from the city. A trail system will also connect the commercial section to the open spaces.

Plans also include a grocery store, restaurants and shops. Bedford will announce the name of the grocery store soon.

During the meeting, mayor Dan Cogan said it took the city a long time to get to this point.

“It’s a big investment for this city. Getting that property generating revenue for us gets us into a much better financial state moving forward,” Cogan said.

The property drew controversy before the May 4 election when mayoral candidate Eric Love claimed that the land had been sold.

But at the time, the council had not approved the sale, and the developers needed to submit site plans as well for the sale to take place.