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'State of Downtown' report captures steady growth

Posted June 7, 2017

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Downtown Street
Retail is hot in downtown Fort Worth, with a 92 percent average occupancy rate.

Downtown Fort Worth has maintained a 92 percent average retail occupancy rate and experienced a 97.5 percent increase in clothing store sales since 2006. That’s according to the just-released 2016 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.

Findings from the report also indicate a growing demand for downtown housing. Apartment occupancy remained above 96 percent for the year. Investment in downtown housing is expanding. Currently, 2,603 residential units are planned or under construction, a 63 percent increase in downtown housing inventory.

Hospitality is also a growth industry. With a $182.19 average daily room rate, downtown has attracted six planned or under-construction hotel projects totaling 1,065 rooms.

The 2016 State of Downtown 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. The data is compiled by Arrie Mitchell, DFWI’s director of research.

“There is incredible demand for downtown real estate,” said Rick Baumeister, Dallas/Fort Worth managing partner at CliftonLarsonAllen and DFWI chairman. “In 2016, $280 million in new building permits were issued in downtown. With eight residential developments and four hotel developments planning to begin construction in 2017, it is easy to see the growth momentum in downtown continuing. Fort Worth has hit the institutional investors’ radar and we represent fertile ground for development.”

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MAEMSA/MedStar Mobile Healthcare Board of Director's Budget Review : 2 p.m. Aug. 21, 2017; Exectutive Board Room, MedStar Offices, 2900 Alta Mere Drive.
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Fort Worth Transportation Authority Commuter Rail Committee Work Session: 3:30 p.m. Aug. 21, 2017; Second Floor Community Room, Intermodal Transportation Center, 1001 Jones Street.
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Fort Worth Transportation Authority Planning, Operations & Marketing Committee Working Session: 4 p.m. Aug. 21, 2017; Second Floor Community Room, Intermodal Transportation Center, 1001 Jones Street.
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Fort Worth Transportation Authority Finance & Audit Committee Working Session: 4:30 p.m. Aug. 21, 2017; Secind Floor Community Room, Intermodal Transportaion , 1001 Jones Street.
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Canceled 2018 Bond Election Public Meeting District 5: 6:30 p.m. Aug. 21, 2017; Handley Meadowbrook Community Center, 6201 Beaty Street.

Canceled City Council Work Session: 3 p.m. Aug. 22, 2017; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

Canceled City Council Meeting: 7 p.m. Aug. 22, 2017; City Council Chamber, Second Floor, City Hall, 200 Texas Street.

Meeting of Board of Directors of Metropolitan Area EMS Authority DBA MedStar Mobile Healthcare: 10 a.m. Aug. 23, 2017; MedStar Offices, 2900 Alta Mere Drive.
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City Plan Commission Work Session: noon Aug. 23, 2017; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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Capital Improvements Advisory Committee for Transportation Impact Fees: 1:30 p.m. Aug. 23, 2017; City Council Chambers, Second Floor, City Hall, 200 Texas Street.
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City Plan Commission Public Hearing: 1:30 p.m. Aug. 23, 2017; City Council Chambers, Second Floor, City Hall, 200 Texas.
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Park & Recreation Advisory Board Work Session: 3 p.m. Aug. 23, 2017; Deborah Beggs Moncrief Garden Center, Fort Worth Botanic Garden, 3220 Botanic Garden Boulevard.
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Tax Increment Reinvestment Zone Number Four Board of Directors Meeting: 3:30 p.m. Aug. 23, 2017; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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Park & Recreation Advisory Board Meeting: 4 p.m. Aug. 23, 2017; Deborah Beggs Moncrief Garden Center, Fort Worth Botanic Garden, 3220 Botanic Garden Boulevard.
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Tarrant County Adult Education & Literacy Consortium Meeting: 9:30 a.m. Aug. 24, 2017; Workforce Development Board Offices, 1320 S. University Drive Suite 600.
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Urban Design Commission Public Hearing: 10 a.m. Aug. 24, 2017; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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2018 Bond Election Public Meeting District 7: 6:30 p.m. Aug. 24, 2017; Northwest High School, 2301 Texan Drive Justin, TX .

2018 Bond Election Public Meeting District 8: 9:30 a.m. Aug. 26, 2017; Hazel Harvey Peace Center, 818 Missouri Avenue.

2018 Bond Election Public Meeting District 3: 1:30 p.m. Aug. 26, 2017; Multipurpose Room, Como Community Center, 4900 Horne Street.

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