September 22, 2022

The Foundry District, an Artsy Hub of Fort Worth Culture, Sold to N.C. Investment Firm

By Matt Leclerlq, Fort Worth Star-Telegram, September 22, 2022

The Foundry District’s developers have sold the colorful, artsy mix of showrooms, shops, offices and distillers to a North Carolina-based real estate investment company.

Fort Worth’s M2G Ventures began redeveloping old warehouses along Carroll Street south of White Settlement Road about seven years ago. Sisters Susan Gruppi and Jessica Miller were inspired by other warehouse districts across the country and sought to find a similar spot in Fort Worth to bring old buildings back to life.

In 2015, they bought an industrial building that contained M&O Station Grill and Leonard’s Museum, not far from the Cultural District and West Seventh Street.

“We drove past a bunch of these buildings every single day,” Miller told the Star-Telegram in 2018. “Nothing was happening to them, but they were always on our way to work or one of our favorite restaurants.”

They quickly rebranded the area as The Foundry District to signal that the old warehouses would be kept as they were. Then they started gathering as many buildings as they could.

The district is over six acres and is anchored by Inspiration Alley and its outdoor gallery flanked by colorful murals.

“Everything flows from Inspiration Alley,” Miller said in 2018. “It’s the crux of our identity. We knew that art and people would create the place and we’re just showcasing that.”

M2G announced the sale Thursday to Asana Partners, which owns 43 buildings in Deep Ellum, commercial space in Victory Park and The Hill shopping center in Dallas.

“Asana Partners’ track record of investing in experiential destinations like The Foundry District makes them the ideal ownership group for this property. They share the vision we have for what had been an underutilized industrial pocket that is now a part of Fort Worth’s foundational culture. We look forward to watching them continue to invest in and build on the inspiring momentum of the district.”

Susan Gruppi, Co-Founder M2G Ventures

Early on, The Foundry District attracted popular local businesses and interesting new brands. Doc’s Records & Vintage is an enormous record store with a bizarre antique mall and frequent live music.

The district has held small festivals and community events over the years. The Grand Berry Theater brought art house films to the neighborhood until it closed this year.