We reported on the beginnings of this deal back in March, and today it looks like it’s been made official – the Texas & Pacific Warehouse is getting redeveloped. Developer Cleopatra Investments and the city have reached a deal to remake the historic structure into 260 apartments or condos with ground-floor retail. Interestingly, it’s much more likely that the building will go apartment, due to tax benefits. Quoth the Star-Telegram:

Condominiums are unlikely, however, because they would eliminate certain tax benefits available to historic buildings, said Jay Chapa, Fort Worth’s deputy economic development director.

This is a major step forward for the Lancaster Avenue initiative, and we look forward to the project’s progress. For more, read the Star-Telegram article.