Fort Worth's historic downtown and stockyards gets a boost from new partnership
Fort Worth is planning to expand the usual programming in its historic district through a new partnership with a California-based venue management company and professional bull riding organization, PBR. The partnership involves three businesses: PBR, Stockyards Heritage Development Co. and venue management company ASM Global, which operates a global portfolio of 300 arenas, stadiums and convention centers. Fort Worth’s iconic Stockyards area welcomes 4.7 million guests each year. And the new joint partnership means even more Western sports events coming to the 16,000-square-foot Cowtown Coliseum — dozens annually, according to a release from PBR parent company IMG. The PBR Stockyards Showcase on June 4 will be the first event held at the coliseum under the new joint venture. Cowtown Coliseum was the site of the first PBR premier series event in 1993, and ASM Global has worked closely with the bull riding organization to host its events at ASM Global venues in the past. The companies involved in the new partnership say they want to grow the entertainment options in Fort Worth’s historic district into a “global tourist destination,” PBR commissioner and CEO Sean Gleason said. “I am honored to see these visionary partners, Stockyards Heritage Development Co., PBR and ASM Global, coming together to take the investment in the Stockyards to the next level, building for the future in a way that still keeps true to our proud Western roots,” Fort Worth Mayor Betsy Price said in a statement. “This announcement and partnership is fantastic news for Fort Worth, both for the people who hang their hat here and the ones who will visit and experience our unique style. As the city of cowboys and culture, there is no better home for this venture than Fort Worth.” Stockyards Heritage Development Co. is a partnership between developer Majestic Realty Co. and Hickman Investments. The group works alongside the city of Fort Worth and Tarrant County on public-private development of the historic Fort Worth Stockyards, which spans 200 acres. Stockyards Heritage Development Co. has already invested $200 million in the Stockyards area over the last three years in which it developed the new Hotel Drover and Mule Alley — a redevelopment of the area’s historic horse and mule barns into restaurant and retail boutique space.