$59M Tarrant County mixed-use project moves forward

NORTH RICHLAND HILLS – Carrollton-based Cover2 Capital expects to begin work on its $59 million Wheelhouse mixed-use development at 6401 Smithfield Rd. in first quarter 2025.

The project will include 277 apartments, 15 townhomes, three-level structured parking, and more than 10,000 sf of retail.

Construction is expected to take 24 months, and the first residents are expected to move in during fourth quarter 2026. The apartments will range from studio to two-bedroom/two-bathroom units. Average apartment rent will be $2,000.

The development’s 15 townhomes will have three bedrooms and 3.5 bathrooms and average just over 2,000 sf. They will rent for around $4,000.

Wheelhouse will have 1.5 acres of park and plaza greenspace that connects to the Cotton Belt Trail. Other amenities include resident coworking spaces and a fitness center.