Pinnacle Bank Plaza to open next week on south end of downtown Fort Worth

In the latest sign of a renaissance on the south end of downtown, a five-story building with a bank, street-level retail shops and 130 loft apartments is scheduled to open next week.

The Pinnacle Bank Place is a five-story structure on Lancaster Avenue, between Jennings and Throckmorton streets. It is just west of the Fort Worth Water Gardens and north of Texas & Pacific Warehouse.

Not all of the features in the blond-brick building will open at once. Many of the retail shops will open toward the end of the year, including a Novak Hair Studio, Stories Coffee Shop and Dentistry of Downtown Fort Worth, a city official said.

But the bank itself is ready for customers. And lofts are about 70 percent leased, said Robert Sturns, economic development director with the city of Fort Worth.

“The Pinnacle Bank Place is going to spur a lot of the activity we have been expecting in that area near the Water Gardens,” Sturns said.

Joining forces

In 2015, Pinnacle Bank and the city’s Local Development Corporation joined forces to make the project possible. Pinnacle Bank loaned the corporation $16.5 million to build the 160,000-square-foot mixed-use development, just a short walk from the Fort Worth Omni Hotel, the city’s convention center and the Trinity Railway Express T&P Station.

“We couldn’t be more excited to be a part of downtown Fort Worth and to serve customers from this new building,” Ronnie Casey, Pinnacle Bank’s regional president, said in a statement. “Pinnacle Bank Place is the first major development on Lancaster Avenue since the roadway was redone.”

Since 2003, when the long-awaited removal of the unsightly Interstate 30 overhead was completed — removing Lancaster Avenue from the freeway’s ghastly shadow — city officials and advocates of walkable neighborhoods have been pushing for redevelopment along Lancaster Avenue.

As part of the deal, Pinnacle Bank bought 8,500 square feet on the west side of the building to use for its banking services.

The bank will have a full-service branch on the ground floor, with customers also able to get help with business, consumer and mortgage loans, company officials said. Executive offices also will be in the building, bank officials said.

Nebraska-based Pinnacle Bank expanded its presence in Fort Worth in 2015 with the acquisition of Woodhaven Bank. Earlier this year, the Woodhaven branches adopted the Pinnacle name, giving Pinnacle 21 branches in Arlington, Azle, Benbrook, Burleson, Cleburne, Colleyville, Fort Worth, Joshua, Keene, Mansfield, Rhome and Springtown.

“As a community-focused bank, it’s important for us to support the growth of Fort Worth,” said Ronny Korb, Pinnacle Bank Charter President. “We take a lot of pride in this project and look forward to what’s ahead for downtown and Lancaster Avenue.”

More lofts on the way

Meanwhile, on each side of the Pinnacle Bank Place two other residential projects are underway — the 200-unit Cadillac Lofts and 250-unit Burnett Lofts.

Once those projects are complete, more than 1,000 new residents of downtown Fort Worth’s south end likely will be walking the sidewalks.

This report includes information from the Star-Telegram archives.

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