Dallas Business Journal | October 22, 2024 | Written by: Seth Bodine
How Terry Montesi uses lifelong love of art to bring ‘surprise and delight’ to major real estate projects
Terry Montesi does not consider himself an artist. But as chairman and CEO of Fort Worth-based Trademark Property Co., art plays an important role in the larger canvas of his developments.
That art comes in forms ranging from of a bronze donkey at a shopping center in The Woodlands, outside Houston, and a display of old carousel horses from the former General Dynamics and Lockheed Martin recreation center in a Fort Worth development called Waterside.
CODAworx, a platform that aims to connect artists to commissions, estimates $4.4 billion was spent on public art last year — and 59% was from a mix of commercial, nonprofit and private organizations. At a time when many workplaces are struggling to entice workers back to the office, developers such as Montesi see heightened value in art to enhance a space, keep tenants and draw visitors.
Montesi, who is looking to continue making his mark in Fort Worth and across Texas and the United States with new developments, shared how his love of art works into his real estate strategy.
In the Dallas-Fort Worth area, Trademark is working on a 265,000-square-foot expansion to its mixed-use development called WestBend in Fort Worth, an estimated investment of nearly $82 million. The company is also transforming the historic Lincoln Square retail center in Arlington into a $300 million mixed-use development called Anthem.
Trademark is also working on 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a lounge development called The Vickery in the Near Southside neighborhood of Fort Worth.
Montesi said the budget for public art varies per project, from as little as $50,000 to something like $500,0000.
“If you invest wisely in things like public art, you’re going to get a return on it,” he said.
Noticing Space
When Montesi was about 10 years old, he remembers looking at paintings inside a museum and thinking he could create something similar. But when he held a paintbrush and sat in front of a canvas his mother bought him, the results were unsuccessful, he remembered.
While the experience didn’t pave the path of an artist, it did spur a lifetime’s worth of appreciation. He bought his first piece of art for a couple hundred dollars while in Rome after college.
Today, his home in Fort Worth is filled with paintings and statues he buys in online auctions. As he walked through his house on a cloudy September morning, he pointed to the pieces hanging on his walls and sit- ting on tables. One is a Pablo Picasso print that the artist drew over. Another is a Dale Chihuly statue made out of recycled plastic bottle tops.
Montesi said he feels comforted and inspired when he looks at the art. “I think it helps me feel I’m a cre- ative,” Montesi said. “And it helps me feel creative, and grateful, appreciative that these artists did this work, appreciative that I’m able to afford a little piece of their career.”
But mostly, Montesi said, seeing the art makes him smile.
Kenneth Turner, a Dallas-based private art dealer and consultant who has been helping Montesi with his private collection since the early ‘90s, said Montesi has a keen eye and feel for scale, color and imagery.