Home > News

Report: Downtown continues to grow as center for housing, employment

Posted June 3, 2016

Archived Content Information and links provided may no longer be accurate.
construction in progress
Lancaster Avenue on the south end of downtown is seeing development with several projects in the works, including the Pinnacle Bank mixed-use building at 250 W Lancaster Ave.

Downtown Fort Worth has maintained a 91.9 percent average retail occupancy rate and experienced an 85.9 percent increase in clothing store sales since 2006.

These results are from the 2015 State of Downtown Report, a yearly publication that offers in-depth analysis of downtown’s primary real estate performance indicators and economic, social and education data. It was published in May by Downtown Fort Worth Inc.

Findings from the report also indicate a growing demand for downtown housing. Apartment occupancy remained above 96 percent for the year, while investment in downtown housing is expanding. Currently 2,532 residential units are planned or under construction, a 73 percent increase in downtown housing inventory.

“Demand for downtown real estate is expanding in all sectors,” said Jack Clark, president of Red Oak Realty and DFWI chairman. “In the pipeline we have 14 residential developments, three hotel developments, 56,000 square feet of new retail and a 25-story tower bringing 304,000 square feet of office and retail space. It’s an exciting time to be a part of downtown.”

Downtown at a glance:

Population and housing

  • Downtown’s population has increased by 112.7 percent since 2000.
  • Average apartment rent has increased 18.2 percent in since 2006.
  • 100 condominiums sold in 2015 at a median price of $255,000, an increase of 15.9 percent over the previous year.
  • 2,532 residential units are planned or under construction. This represents a 73 percent increase in the downtown apartment inventory.

Office and employment

  • Downtown has more than 48,150 employees with a total payroll of more than $3 billion.
  • 542,612 square feet of office space has been added since 2013, and 258,900 square feet are under construction.

Retail

  • Average retail occupancy of 91.9 percent since 2006.
  • 85.9 percent growth in clothing store sales since 2006.

Hospitality

  • More than 670,000 room nights sold in 2015.
  • $106 million in downtown hotel revenue in 2015.

Transportation

  • Transit use in downtown increased by 55.4 percent since 2006.

Tax collection

  • More than $130,000,000 in sales taxes paid in downtown in 2014, an increase of 13percent over 2013.
  • More than $62 million in property taxes paid in downtown in 2015.

The 2015 State of Downtown Report is produced by Downtown Fort Worth Inc. and Fort Worth Public Improvement District No.1 to help communicate the underlying economic trends shaping the center city.

Get articles like this in your inbox weekly. Subscribe to City News

City News

Public Notices

Calendar

Residential Board of Adjustment Work Session: 12:30 p.m. Feb. 21, 2018; City Council Conference Room 290, 200 Texas Street, 2nd Floor City Hall.
View the agenda »

Residential Board of Adjustment Public Hearing: 1:30 p.m. Feb. 21, 2018; City Council Chamber, 200 Texas Street, 2nd Floor City Hall.
Register for this event »

Public Hearing of the Trinity River Public Facility Corporation on Multifamily Revenue Bonds: 4:30 p.m. Feb. 21, 2018; Fort Worth Housing Authority, 1201 Eat 13th Street.
View the agenda »

Urban Design Commission Public Hearing: 10 a.m. Feb. 22, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
View the agenda »

SBA 8(a) and HUBzone Certification Orientation: 11:30 a.m. Feb. 22, 2018; James E. Guinn Entrepreneurial Campus, Business Assistance Center, 1150 S. Freeway.
Register for this event »

Fort Worth Housing Solutions Board of Commissioners Annual & Regular Meeting: 5 p.m. Feb. 22, 2018; Fort Worth Housing Solutions Administrative Office Board Room, 1201 East 13th Street.
View the agenda »

Quadco Management Solutions Annual Meeting: 5 p.m. Feb. 22, 2018; Fort Worth Housing Solutions Administrative Office Board Room, 1201 East 13th Street.
View the agenda »

Housing Development Corporation of Fort Worth: 5 p.m. Feb. 22, 2018; Fort Worth Housing Solutions Administrative Office Board Room, 1201 East 13th Street.
View the agenda »

Wind Terrace, Inc.: 5 p.m. Feb. 22, 2018; Fort Worth Housing Solutions Administrative Office Board Room, 1201 East 13th Street.
View the agenda »

Cavile Public Facility Corporation: 5 p.m. Feb. 22, 2018; Fort Worth Housing Solutions Administrative Office Board Room, 1201 East 13th Street.
View the agenda »

Master Composter Class: 6 p.m. Feb. 22, 2018; Tarrant Area Food Bank Administrative Building, 2525 Cullen, 76107.
Register for this event »

Bluebonnet Circle Infrastructure Improvements Project Meeting: 6 p.m. Feb. 22, 2018; La Mancha Business Center Building 3, 3120 Merida Ave.

Pedestrian and Bicycle Advisory Commission: 6 p.m. Feb. 22, 2018; Tarrant Regional Water District, Conference Room, 800 East Northside Drive.
View the agenda »

Deferred Compensation Oversight Committee: 9 a.m. Feb. 23, 2018; Fort Worth Credit Union Board Room, 200 Texas Street.
View the agenda »

Minority and Women Business Enterprise Advisory Committee: 11:30 a.m. Feb. 23, 2018; James E. Guinn Building, First Floor, PharmaFab Conference Room 116, 1150 South Freeway.
View the agenda »

Master Composter Class: 6 p.m. Feb. 23, 2018; Tarrant Area Food Bank Administrative Building, 2525 Cullen, 76107.
Register for this event »

Master Composter Class: 8:30 a.m. Feb. 24, 2018; Tarrant Area Food Bank Learning Garden at Ridglea Christian Church, 6720 W. Elizabeth Lane, 76116.
Register for this event »

Health Fair at Como Community Center: 9 a.m. Feb. 24, 2018; Como Community Center, 4900 Horne St.

Building Standards Commission Pre-Meeting: 9 a.m. Feb. 26, 2018; City Hall, 2nd flr., City Council Conference Room 290, 200 Texas Street.
View the agenda »

Task Force on Race and Culture Work Session: 9 a.m. Feb. 26, 2018; Oak Hall, Deborah Beggs Moncrief Garden Center, 3220 Botanic Garden Boulevard.
View the agenda »

Building Standards Commission Meeting: 9:30 a.m. Feb. 26, 2018; City Hall, 2nd flr., City Council Chamber, 200 Texas Street.
View the agenda »

Trinity Metro Board of Directors Meeting: 3:30 p.m. Feb. 26, 2018; Intermodal Transportation Center, Second Floor Community Room, 1001 Jones Street.
View the agenda »

Black History Program at MLK Jr. Community Center: 4:30 p.m. Feb. 26, 2018; Martin Luther King Jr. Community Center, 5565 Truman Drive.

Disciplinary Appeal of Indefinite Suspension of Courtney Johnson: 9 a.m. Feb. 27, 2018; Bob Bolen Public Safety Complex, Police Training Classroom #1134, 505 West Felix Street.
View the agenda »

View the full city calendar.