Sasha Bass Is Stepping Down. Can New Leadership Revive Sundance Square?
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Social media lit up Monday with the announcement that Sasha Bass, the oft-criticized president and CEO of Sundance Square, will step down Sept. 1 and be succeeded by former Fort Worth Police Chief Ed Kraus. The leadership change comes at a moment when the once-bustling downtown district faces pressure to fill storefronts, repair tenant relationships, and reclaim its place as a Fort Worth destination.
It was news welcomed by some Fort Worth residents and former tenants who’ve watched the downtown mixed-use district decline and took to Facebook to discuss the change. Bass, who married Edward P. Bass in 2019, had become the public face of frustrations over empty storefronts, business departures, and paid parking — although Sundance Square’s difficulties also coincided with the pandemic and broader challenges facing downtown retail and office districts.
Kraus steps into the president and CEO role after five years at Sundance Square and a 28-year career with the Fort Worth Police Department. Moving from law enforcement to commercial real estate is an unconventional path, but Kraus ascends as an internal promotion, and social media registered opinions on that, too.
When Sundance Square Hummed
Sundance Square was once synonymous with a night out in downtown Fort Worth. Under the watchful eye of private security, restaurants hummed, movie theaters filled, and boutiques thrived. ESPN rolled in with its Super Bowl and College GameDay events, and President Bill Clinton drew throngs during a 1996 campaign visit.
The Caravan of Dreams building hosted jazz concerts and later became home to the popular Reata Restaurant.
But things changed. Longtime tenants moved out, with several publicly criticizing Sundance Square’s executive management for the district’s decline. The global pandemic didn’t help, either. More recently, there’s been a loud outcry over the decision to replace merchant-validated free parking with paid parking.
Businesses Leave the Square, But Not Downtown
Sundance Square is only one part of the broader downtown area of Fort Worth. Several long-term businesses have stepped around what they viewed as Sundance Square’s management problems by strategically moving their businesses just outside Sundance Square’s defined boundaries but remaining still within the central business district.
Reata Restaurant moved from the Caravan of Dreams building to the street level of The Tower residential high-rise at 500 Throckmorton St. The signature tenderloin tamales came along, too.
MELT Ice Creams is now located at 700 Main St. Dentist Marie “Doc” Holliday, an outspoken critic of Bass’ policies, moved her dental practice to 201 Main St., Suite 180, mere blocks from her former Sundance location to escape what she termed “dead-end negotiations.” Her secondary business, Flowers to Go, also is located downtown at 225 Calhoun St.
Holliday said she’s got a watchful eye on Sundance Square’s newest chapter and believes Kraus’ promotion will succeed only if tenants see it as a genuine change in direction.
“The potential and existing tenants need to be confident that this is a new beginning, with a new direction,” Holliday said. She called for greater collaboration across the central business district, which she believes could restore “success, vibrancy, and joy” to Sundance Square.
Is This a New Direction?
Bass plans to shift her focus to leading the Sasha and Edward P. Bass Family Foundation, the family’s philanthropic entity that supports everything from arts and education to conservation and community projects.
Kraus, meanwhile, will inherit a district that has recently taken at least one substantive step toward rebuilding its retail base. Sundance Square hired commercial real estate firm JLL in May to oversee retail leasing and recruit new tenants.
Whether Kraus represents a genuine reset will become clearer in the district’s storefronts and in its relationship with the merchants that Sundance Square needs to lure back. For now, the continuing fight over paid parking might provide an early test.
