Former Stockyards Heritage Development Co. leader Craig Cavileer and his new company, Delightful Development, announced plans Wednesday for a $160 million luxury resort along 1,000 feet of Marine Creek frontage just behind Mule Alley and Hotel Drover.
The resort news came on the same day that Cavileer’s former employers announced they will not be pursuing plans for a $1 billion development.
The new project, at the northeast corner of Main and 23rd streets, will feature two luxury hotels totaling 200,000 square feet, 225 rooms and a three-level underground parking garage with more than 350 spaces.
The planned development will also have 30,000 square feet of green space and an entertainment area with access to Marine Creek and a crossing to connect to Tim Love’s Lonesome Dove restaurant and the Mule Alley retail center.
Other amenities include a large resort-style pool with cabanas overlooking the creek, about 18,000 square feet of meeting space and a 4,000-square-foot event barn and lawn, a 7,500-square-foot grand ballroom, and a full-service day spa. The project will include 3,000 square feet of retail.
Groundbreaking is targeted to start fall 2027, according to developers, with the resort opening in spring 2030.
“Having spent the past 15 years leading the curation and renaissance of the Stockyards, I couldn’t be more excited to contribute to its ongoing revival with this project.” Cavileer said.
Delightful Development is a new company led by Cavileer and Kayla Wilkie-Kinne. The two former Majestic Realty executives led the first phase of Stockyards redevelopment that included refurbishing Mule Alley and creating Hotel Drover.
"Few projects offer a genuine blank canvas, and fewer still come with the history and character the Stockyards bring to the table. We're honored to help shape the next chapter of hospitality here. I have no doubt the result will be extraordinary,” Wilkie-Kinnet said.
Stockyards Heritage, which is a partnership between California-based Majestic Realty and Fort Worth’s Hickman Companies, was led by Cavileer until last year. Cavileer left Majestic in a legal dispute which continues in a Los Angeles court. Majestic Realty is asking for $76 million in unpaid loans from Cavileer, who has countersued.
Delightful Development is partnering with Woodbine Development on the resort project. Woodbine is no stranger to Fort Worth, having developed the six-story, 180,000-square-foot Class A office building in the Clearfork development.
The new development is a public-private partnership with Delightful, Woodbine and the city of Fort Worth. The board overseeing the tax increment reinvestment zone for the Northside and Stockyards approved a tax increment financing development agreement with the developers during its Aug. 5 meeting.
Bob Francis is business editor at the Fort Worth Report. Contact him at bob.francis@fortworthreport.org.
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