FORT WORTH, Texas – Fort Worth-based commercial construction firm Hasen will begin construction on the adaptive reuse of the former Oncor Building in downtown Fort Worth within the next 30 to 60 days, transforming the long-standing office tower into a modern multifamily community.
Branded by its address, 115th West 7th Street, the project will convert the 300,000-square-foot, 16-story structure into approximately 330 residential rental units, including studio, one-bedroom, and two-bedroom apartments. The mixed-use redevelopment will retain existing ground-floor restaurants and retail while introducing new residential amenities such as light-filled atriums, a fitness center, and a business center. According to Hasen President David Hasenzahl, construction is expected to be completed in less than two years.
“For more than 30 years, this location was known as the Oncor Building,” Hasenzahl said. “In 2021, Oncor moved its operations out of that building and down the street. Development firm 3L Real Estate, with locations in Chicago and Dallas, bought the building in 2023 and started planning this conversion project.”
Hasen will serve as general contractor, bringing deep experience in historic renovations, including the Historic Electric Building in downtown Fort Worth and Rodeo Plaza in the Fort Worth Stockyards. The company has also partnered with 3L Real Estate on similar office-to-residential conversions, notably at 501 Elm Street in downtown Dallas.
The building’s mid-century exterior will remain intact due to its Historic and Cultural Landmark designation received in 2024. Constructed in 1952 as the headquarters of Fort Worth National Bank, the tower was once the city’s largest commercial building. Designed by Preston M. Geren & Associates in the International Style, it is recognized for its distinctive “slab and tower” form and rust-colored Denton brick façade.
“We look forward to energizing this building, in partnership with 3L, to bring this iconic tower back to life while preserving its historic beauty to honor Fort Worth’s history,” Hasenzahl said. “3L is a prominent player in the adaptive reuse movement with a proven track record of transforming aging, underutilized office buildings into modern residential multifamily homes.”
As part of a true mixed-use concept, the property will continue to host The Capital Grille, Little Red Wasp, and a PlainsCapital Bank branch at street level. Its location places residents within walking distance of Sundance Square and major downtown employers and cultural venues.
“We anticipate these units to be popular among the TCU medical school and Texas A&M Law School students and employees,” Hasenzahl said. “By converting this underutilized office building into sophisticated residential rentals, we are providing the vital residential infrastructure needed to support Fort Worth’s transformation into a premier research and medical destination.”
In April, Fort Worth’s Tax Increment Finance Zone No. 8 approved $4 million in infrastructure reimbursements for the project in exchange for 20% of units remaining below-market rent for 10 years, reinforcing the city’s focus on attainable housing.
City leaders have repeatedly emphasized that adaptive reuse plays a crucial role in revitalizing downtown, adding residents, supporting local businesses, and preserving architectural heritage.
“3L is eager to continue investing in Fort Worth with this new project, which will restore a valuable historic building," said 3L Real Estate Chief Executive Officer Joseph W. Slezak. "We believe in the City of Fort Worth's downtown development efforts, and we're committed to helping by expanding housing opportunities for residents at all budget levels."
Founded in 2015, 3L Real Estate specializes in unlocking the potential of legacy urban properties. The Oncor redevelopment marks the firm’s 13th acquisition and second North Texas project.
“Hasen is excited to continue its partnership with 3L, a nationwide developer, to revitalize the use of this iconic building in downtown Fort Worth, while preserving the historic nature of its exterior. It will serve a great need for increased housing markets in the downtown Fort Worth area, thanks to the exciting growth of our city,” Hasenzahl said.
Architecture and design services are being led by Bennett Partners, with offices in Fort Worth and Dallas.
Adaptive Reuse Fuels Downtown Housing Momentum
The Oncor conversion reflects a broader trend across Texas and the U.S., where developers are repurposing outdated office towers into housing as remote work reduces demand for traditional workplaces. Downtown Fort Worth has seen steady population growth, yet housing supply has lagged behind employment and university expansion. Projects like 115 West 7th aim to close that gap while preserving architectural character that defines the city’s skyline.
Urban planners note that adaptive reuse typically costs less and produces fewer carbon emissions than ground-up construction. Reusing existing structures also accelerates delivery timelines—an important factor as Fort Worth competes to attract medical, research, and technology employers.
About Hasen
Hasen is a Fort Worth-based real estate firm specializing in construction and selective large-scale development. Through its family of businesses, Hasen has delivered commercial and multifamily projects since 1955 and is a certified Design Build Institute of America (DBIA) member with operations across Texas and the Southwest. https://hasenconstruction.com/
About 3L Real Estate
3L Real Estate is an investment and development firm focused on the adaptive reuse of historic and underutilized urban properties. Headquartered in Chicago with a major hub in Dallas, the firm transforms legacy commercial buildings into modern, attainably priced residential communities.
Project Timeline and Community Impact
Site preparation and interior demolition are expected to begin this spring, with leasing projected to start in late 2027. Community stakeholders anticipate the project will bring hundreds of new residents downtown, strengthening demand for transit, retail, and neighborhood services while ensuring a portion of units remain affordable for essential workers and students.
Media Contact
Tonie Auer for Hasen
tauer@sunwestpr.com
817-925-2013
Originally reported by Hasen Construction.
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