A $120M mixed-use project could be headed for Panther Island after more than two decades of work to transform the 800-acre area north of Downtown Fort Worth.

Tillar Partners plans to build 512K SF of Class-A offices over retail with structured parking on 12 acres, according to documents from a forthcoming pre-development conference obtained by the Dallas Business Journal.

The Vaquero Panther Island project is expected to catalyze further development activity and comes on the heels of a $403M federal grant awarded to the Panther Island/Central City Flood Control Project last year.

The funding will help pay for the design and construction of a 1.5-mile bypass channel to reroute part of the Trinity River, a $1.2B effort needed to unlock land for development, per the Fort Worth Report. The bypass channel won’t be complete until 2032.

The city tasked HR&A Advisors with devising a plan for Panther Island’s first phase of development. The report, released in early August, found that stakeholders envisioned a mixed-use environment that attracts companies and talent to Fort Worth while also providing entertainment for locals and visitors.

Earlier this summer, Austin-based Seco Ventures bought 26 acres on Panther Island. The sale, facilitated by LanCarte Commercial, represented the largest private assemblage on Panther Island, though the company has yet to disclose what it has in mind for the parcels.

Tillar Partners is scheduled to meet with city officials to further discuss the Vaquero Panther Island project on Oct. 23, per the DBJ.