Latest news with #Stockyards
CBS News
6 days ago
- Business
- CBS News
"Yellowstone" creator Taylor Sheridan buys this renowned restaurant in Fort Worth Stockyards
A renowned restaurant in the heart of the historic Fort Worth Stockyard is under new ownership – and one person at the head is "Yellowstone" creator Taylor Sheridan. Sheridan, along with his business partners David Glasser and Dan Schryer, recently purchased Cattlemen's Steak House, the group announced Wednesday. Cattlemen's is currently under a multi-million-dollar renovation, which is nearing completion. The plans include enhancing the food and wine offering, adding new dining, a bar, event spaces and an outdoor patio with a live music stage. Sheridan, who, apart from Hollywood, is a native Texan, rancher and cattleman. His Four Sixes Ranch has been providing USDA grade beef to Cattlemen's Steak House, the Bowie House, Auberge Resorts Collection in Fort Worth and SW Steakhouse. He promises to keep the essence of the menu and the preserved time-honored concept guests love. "Fort Worth is a vital city to both our state and our nation. It is where the West begins and where the cattle business was born. It is deserving of a gathering place for those who both shaped this city's past and guide its future — where friendships can be fostered and formed, and the very best of this city can be celebrated," Sheridan said the news release. Sheridan and his partners are also adding an element called "Cattlemen's Club," which will be a members-only dining and social club with a 130-person seating capacity. It will open summer of 2025. Designer Tyler Duncan, of Duncan Design Group in Grapevine, said the club will pay homage to "everything cowboy." The Cattlemen's Club memberships will be priced at $3,000, with a one-time initiation fee of $1,000, according to the news release. Cattlemen's was created in 1947 by Jesse and Mozella Roach and has remained in the Stockyards for over 75 years. Current owners, Marti Taylor and Larry Heppe, will remain as part-owners in the restaurant. Sheridan continues to invest in North Texas This is just the latest investment by Sheridan in the Fort Worth community. Sheridan, who not only helped create "Yellowstone", has also created several other popular series for Paramount, shot extensively in the city. Recently, Sheridan's other original series, "Landman," filmed parts of its second season in Downtown Fort Worth. And among college graduates at Texas Christian University, Sheridan received an honorary Doctor of Letters degree. Sheridan's commitment to the arts, Texas film industry and business has made an economic boon for North Texas.
Yahoo
24-05-2025
- Business
- Yahoo
$1B expansion of Fort Worth Stockyards put on ‘indefinite hold' in legal dispute
Phase 2 redevelopment of the Fort Worth Stockyards may be on hold due to disputes between the project's developers, court documents have revealed. In documents filed on May 6, Majestic Realty Co.'s former executive vice president Craig Cavileer alleged that a dispute between the developer and its local partner for Stockyards redevelopment, The Hickman Companies, resulted in his firing and has stalled the almost $1 billion redevelopment project. 'Phase Two of the project — which would have converted a surface parking area into new mixed-use developments — has been put on indefinite hold,' the lawsuit states. The second phase of redevelopment is expected to double the size of the Stockyards, adding three hotels, 300,000 square feet of commercial space, at least 295 units of multifamily housing and two underground parking garages. The Fort Worth City Council approved economic incentives for the project in June. Developers Majestic Realty and Hickman Companies agreed to invest at least $630 million in the project. Construction has yet to begin. Cavileer filed a lawsuit against Majestic Realty Co. and the company's chairman of the board Edward Roski Jr., who recruited him to join the company in 1993. In court filings, Cavileer alleged Majestic and Roski forced him to suddenly pay back tens of millions of dollars in loans, after he refused to side with the company in a Stockyards-related dispute. The case is being heard by the Superior Court of Los Angeles County. Cavileer's stakes in a number of Stockyards properties were auctioned off on May 6, after Majestic took legal action requiring him to sell them in order to pay back 31 loans he had gotten from Majestic worth a combined $75.9 million. The loans were promissory notes issued to Cavileer by Roski on behalf of Majestic. In court documents, Cavileer states that Majestic's development partners usually receive ownership interests in the company's projects; promissory notes are typically issued to them, so they have enough cash to buy into their share of equity at a project's start. Cavileer alleged Roski promised partners that their debt wouldn't be called in until the property is sold or recapitalized, which would provide the development partner with enough capital to pay off the loans. Cavileer stated he wouldn't have agreed to take the promissory notes without Roski's promise. Cavileer alleged in his over three decades working with Majestic, Roski never called in a debt on a note without a significant capital event — until he demanded Cavileer pay back his loans. He said Roski and Majestic knew he wouldn't be able to pay back the loans without the sale of property. In court filings, Cavileer describes the action as a retaliatory move designed to rob him of the benefits earned from his time with Majestic. He alleged Roski and Majestic called in his loans after he refused to side with the company in a dispute with its Stockyards development partner, Fort Worth-based firm The Hickman Companies. According to a statement Cavileer submitted to the court, Majestic wanted Hickman Companies to invest additional capital into Phase 2 redevelopment, a dispute that resulted in arbitration. 'Roski and Majestic did not consult me before they demanded additional capital from the Hickmans or entered litigation. Despite this, Roski and Majestic demanded that I support their position in the litigation,' Cavileer states in court filings. In the lawsuit, Cavileer alleged Roski and Majestic stopped holding meetings and communicating with him in October. He also asserted that Roski and the company diverted cash distributions he was owed. Cavileer oversaw the creation of Mule Alley, the first phase of redevelopment in the historic district. Majestic fired Cavileer in December, and has since appointed Rick Kline III as lead representative for Stockyards projects. Kayla Wilkie, Majestic's director of design and development for lifestyle and hospitality, left the company on May 14, the Dallas Business Journal reported. Wilkie and Cavileer helped create plans for Phase 2 of redevelopment. Cavileer's legal actions are the latest move in his ongoing legal battle with Majestic. Majestic filed a lawsuit against Cavileer in Superior Court of Los Angeles County on Jan. 2, which alleged he failed to pay back 31 loans worth $75.9 million. The company is seeking the value of the loans plus interest, as well as attorneys fees and other costs incurred in the suit. Cavileer denied Majestic's allegations in documents filed on April 15. Both parties demanded a jury trial in the case. Over a dozen of Cavileer's assets, including a stake in the company that operates Cowtown Coliseum, were auctioned off on May 6. Cavalier's stakes in the management companies that own the Hyatt Place Fort Worth Historic Stockyards, Hotel Drover, Stockyards Hotel and the Stockyards Station shopping center were part of the sale. Also part of the auction were his stakes in the companies that own and operate two warehouses and undeveloped land along Interstate 35W in south Fort Worth and an over 1.1 million-square-foot warehouse at 9449 Silver Creek Road, which was leased by Google in October. Cavileer attempted to stop Majestic from selling his interest in the properties through legal action on the day of the auction, but the court denied his request due to 'lack of sufficient evidence and lack of irreparable harm.' 'If Roski is successful, the forced sale of Cavileer's ownership interests on the auction block will mean that the past 32 years of Cavileer's professional life has been for nothing,' court documents state. Arbitrations that Cavileer instituted against Roski and Majestic in February are still pending. Cavileer alleged Majestic entered into arbitration under the guise of resolving their dispute over his loans, but never intended to come to an agreement. He states Majestic instead used negotiations as a ploy to prevent him from taking additional action that could've protected his interests. Majestic Realty Co. declined to comment on legal proceedings, but a spokesman said the company is continuing 'to focus on our long-term development plans for the Stockyards and our work with our Hickman family partners.' The city of Fort Worth declined to comment on the developers' legal actions. 'The City continues to work with Fort Worth Heritage in support of progress on the second phase of the Stockyards,' said a statement from the city. Stockyards Heritage Development Co., the partnership between Majestic and Hickman Companies, did not respond to a request for comment. Hickman Companies and Cavileer's lawyer also did not respond to a request for comment. Based in Fort Worth, Hickman Companies was founded by entrepreneur Holt Hickman in 1964. Los Angeles-based Majestic Realty is the largest private developer of master-planned business parks in the country.
Yahoo
08-03-2025
- Business
- Yahoo
Work to start on revamp of cattle market
Redevelopment work is set to start on a historical market in Leicestershire. The Stockyards – a food and drink venue that is part of Melton's Cattle Market – will be getting a major facelift over the next year. Melton Borough Council has announced hoardings and fencing will be going up around the site from Monday in preparation for work to begin, said the Local Democracy Reporting Service. Public parking on site will be stopped from Monday 17 March until 2026, when the work is due to finish. The plan to turn the space into a potential cultural destination for food lovers was given the go ahead by Melton's planning committee last month. It will create 110 permanent jobs and attract an estimated 50,000 extra visitors, the council said. The work will include the addition of a new events space and four new buildings. It is part of a wider project with Rutland County Council under the Rural Innovation in Action scheme, which received combined UK Government Funding of £22.95m. Council leader Pip Allnatt said the preparation of the site was "a significant step forward for this project". He added: "We understand the temporary inconvenience caused by the closure of the current parking area, but we are confident that the new development will bring long-term benefits to our residents and visitors. "The space will not only provide ample parking but will also serve as a vibrant venue for events, bringing people together and fostering a sense of community spirit. "We appreciate everyone's patience and cooperation during this period of change." Hugh Brown, CEO of site operator Gillstream Markets, called the scheme "a huge project for the benefit of the market, the town and the wider area". He promised specific guidance would be given to traders, tenants and event organisers as the building work continues. While work is taking place, alternative parking will be available at nearby council car parks, including the short-stay facilities in Wilton Road and the long-stay car park in Scalford Road. The council said livestock market customers will still be able to park in the north of the site, while separate arrangements were being made for Stockyard tenants. Follow BBC Leicester on Facebook, on X, or on Instagram. Send your story ideas to eastmidsnews@ or via WhatsApp on 0808 100 2210. Plans to develop town market given go ahead Popular market could be redeveloped under new plans Local Democracy Reporting Service Melton Borough Council
BBC News
08-03-2025
- Business
- BBC News
Work to start on revamp of Melton cattle market
Redevelopment work is set to start on a historical market in Stockyards – a food and drink venue that is part of Melton's Cattle Market – will be getting a major facelift over the next Borough Council has announced hoardings and fencing will be going up around the site from Monday in preparation for work to begin, said the Local Democracy Reporting parking on site will be stopped from Monday 17 March until 2026, when the work is due to finish. The plan to turn the space into a potential cultural destination for food lovers was given the go ahead by Melton's planning committee last month. It will create 110 permanent jobs and attract an estimated 50,000 extra visitors, the council work will include the addition of a new events space and four new is part of a wider project with Rutland County Council under the Rural Innovation in Action scheme, which received combined UK Government Funding of £22.95m. Council leader Pip Allnatt said the preparation of the site was "a significant step forward for this project".He added: "We understand the temporary inconvenience caused by the closure of the current parking area, but we are confident that the new development will bring long-term benefits to our residents and visitors."The space will not only provide ample parking but will also serve as a vibrant venue for events, bringing people together and fostering a sense of community spirit."We appreciate everyone's patience and cooperation during this period of change."Hugh Brown, CEO of site operator Gillstream Markets, called the scheme "a huge project for the benefit of the market, the town and the wider area".He promised specific guidance would be given to traders, tenants and event organisers as the building work work is taking place, alternative parking will be available at nearby council car parks, including the short-stay facilities in Wilton Road and the long-stay car park in Scalford council said livestock market customers will still be able to park in the north of the site, while separate arrangements were being made for Stockyard tenants.
Yahoo
02-03-2025
- Yahoo
Texas Independence Day is here! Celebrate with these 25+ classic Texas hobbies
Today is Texas Independence Day, and there's no better way to celebrate the Lone Star State than by indulging in some classic Texas traditions. Whether you're a born-and-raised Texan or just here for the festivities, here's a list of activities that capture the true spirit of Texas. How many can you check off before the day is done? More: Nothing to do in West Texas? Here are 30 day trips on a tank of gas from Lubbock Texas Independence Day, celebrated annually on March 2, marks the anniversary of when Texas declared independence from Mexico in 1836. On this day, delegates at Washington-on-the-Brazos signed the Texas Declaration of Independence, officially breaking away from Mexican rule and establishing the Republic of Texas. The republic remained independent for nearly 10 years before joining the United States in 1845. The day is significant in Texas history because it represents the state's unique path to statehood and its fiercely independent identity. While we recognize some of these are more plausible than others, this is only a compilation of classic Texas activities. Remember, the goal is to cram in as many as possible to celebrate the Lone Star State's independence. Eat barbecue in Lockhart Visit the Alamo in San Antonio Dance at Gruene Hall Eat a kolache from West, Texas Go to a rodeo Visit the Stockyards in Fort Worth and watch the twice-daily cattle drive Visit the Texas Capitol in Austin Go two-stepping at Billy Bob's Texas Host a backyard barbecue Enjoy a meal along the River Walk in San Antonio Explore Big Bend National Park Visit the Magnolia Market in Waco Float a river Go wine tasting in Fredericksburg Visit the Fort Worth Zoo Watch bats fly out from under the Congress Avenue Bridge in Austin Order a Shiner Bock on draft Visit the Sixth Floor Museum in Dallas Go horseback riding Eat Blue Bell ice cream Take a scenic drive through Hill Country Savor a late-night Whataburger Visit the Dallas Arboretum and Botanical Garden Go stargazing at the McDonald Observatory Eat at the Big Texan Steak Ranch in Amarillo Visit the Perot Museum of Nature and Science in Dallas Visit the George H.W. Bush Presidential Library in College Station Drink a Dr Pepper — or maybe two Eat on the patio of Joe T. Garcia's in Fort Worth This article originally appeared on Austin American-Statesman: Need ideas to celebrate Texas Independence Day? Here's a list of ideas
