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A D V E R T I S E M E N T
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Untangling a Web on Montgomery
By Michael Whiteley
In its cover story last week about redevelopment efforts along Montgomery Street, Fort Worth Weekly quoted Elton M. Hyder III regarding properties on that street at and near Interstate 30, including the property occupied by the Montgomery Street Antique Mall. Tarrant Appraisal District records showed the land to be owned by Mid-Western Development & Realty Ltd. Hyder is the former president and former counsel for both Mid-Western and Texas Land & Investment Co., Inc., which also had owned part of the property.
However, other members of the Hyder family told the Weekly that Elton Hyder III no longer owns any interest in those properties. Brent Rowan Hyder, who is now managing partner with Mid-Western and Texas Land & Investment, said his brother no longer owns any interest in the property “and did not have ... the authority to represent or speak for the owners.” He said some of the information his brother provided was incorrect.
Specifically, Elton Hyder III had told the Weekly that proprietors of the antiques mall recently signed a 30-month lease on that property. Beverly Robb, a co-owner of the antiques mall business, and Brent Hyder both said that is incorrect. Neither would say how long the mall’s current lease with the Hyder company is, but Robb said that it is “considerably longer” than 30 months.
The antiques mall property was discussed in the story because a group led by investor Ed Bass and his associates is amassing property along Montgomery Street to redevelop into a new arena for equestrian and other events and to make the street, between I-30 and the Fort Worth Museum of Science and History, into a center for Western heritage facilities and events. Rumors of a luxury hotel at Montgomery and I-30 have abounded since Robb and her partners opened the mall 11 years ago.
“Of course there has been lots of speculation about that property and putting a hotel there,” Brent Hyder said. “That’s something at some point that might be a good use.”
In a tangle of litigation dating back to 1996, Elton had been fighting in court with Brent and other family members who have a stake in Mid-Western and Texas Land & Investment. The lawsuits involved cross-allegations of mismanagement. “We didn’t like what he was doing in running our companies, and he didn’t like the way we did business,” Brent Hyder said. “It’s like a divorce and everything that goes along with it.”
In terms of the Montgomery Street properties, that fight ended in July, when Elton Hyder III sold his interest. He acknowledged, after the Oct. 26 story appeared, that he no longer had any ownership in that property. —
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