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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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Human Relations Commission 50th Anniversary Celebration: 8 a.m. Oct. 20, 2017; A.D. Marshall Public Safety and Courts Building, 1000 Throckmorton St.

Public Art Dedication at Meacham International Airport: 10 a.m. Oct. 20, 2017; Meacham International Airport Administration Building, 201 American Concourse (Off N. Main Street).

Minority and Women Business Enterprise Advisory Committee Meeting: 11:30 a.m. Oct. 20, 2017; James E. Guinn Building, First floor, PharmaFab Conference Room No 116, 1150 South Freeway.
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Fall Festival: 7 p.m. Oct. 20, 2017; Fire Station Community Center, 1601 Lipscomb St.

Code Rangers: 9 a.m. Oct. 21, 2017; Hazel Harvey Peace Center for Neighborhoods, 818 Missouri Ave, Fort Worth, TX 76104.

Crud Cruiser Mobile Waste Collection: 9 a.m. Oct. 21, 2017; Gateway Church, 4205 Basswood Blvd .

Homeless Event: Mile in My Shoes: 11 a.m. Oct. 21, 2017; Southside Community Center, 959 E. Rosedale St.

Worth Heights Oktoberfest: 6 p.m. Oct. 21, 2017; Worth Heights Community Center, 3551 New York Ave.

Building Standards Commission Pre-Meeting: 9 a.m. Oct. 23, 2017; City Council Conference Room 290, City Hall, 200 Texas Street.
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Building Standard Commission Meeting: 9:30 a.m. Oct. 23, 2017; Council Chamber, City Hall, 200 Texas Street.
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Fort Worth Transportation Authority Commuter Rail Committee Working Session: 3:30 p.m. Oct. 23, 2017; 2nd 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. Oct. 23, 2017; 2nd Floor Community Room, Intermodal Transportation Authority, 1001 Jones Street.
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Fort Worth Transportation Authority Finance & Audit Committee Working Session: 4:30 p.m. Oct. 23, 2017; 2nd Floor Community Room, Intermodal Transportation Authority, 1001 Jones Street.
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2018 Bond Election Public Meeting City Wide: 6:30 p.m. Oct. 23, 2017; Botanic Garden Lecture Hall, 3220 Botanic Garden Boulevard.

Las Vegas Trail Revitalization Project Meeting: 8:30 a.m. Oct. 24, 2017; Birchman Baptist Church, 9100 N. Normandale St.

Fort Worth City Council and Appointed Officials Conversation About Race and Culture: 10 a.m. Oct. 24, 2017; Oak Hall, Deborah Beggs Moncrief Garden Center, 3220 Botanic Garden Boulevard.
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Senior Spooky Social: 10 a.m. Oct. 24, 2017; Hillside Community Center, 1201 E. Maddox Ave.

Audit Committee: 1 p.m. Oct. 24, 2017; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

Fort Worth Housing Finance Corporation: 2 p.m. Oct. 24, 2017; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

City Council Work Session: 3 p.m. Oct. 24, 2017; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

Firefighters' and Police Officer' Civil Service Commission: 6 p.m. Oct. 24, 2017; Planning and Development Conference Room, Lower Level, City Hall, 200 Texas Street.
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City Council Meeting: 7 p.m. Oct. 24, 2017; City Council Chambers, Second Floor, City Hall, 200 Texas Street.

Board of Directors of Metropolitan Area EMS Authority D/B/A MedsStar Mobile Healthcare: 10 a.m. Oct. 25, 2017; MedStar Mobile Healthcare, 2900 Alta Mere Dr.
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Diamond Hill Jarvis Infrastructure Improvements Project Meeting: 6 p.m. Oct. 25, 2017; Diamond Hill Community Center, 1701 NE 36th St.

Historic Preservation Ordinance Public Input Meeting: 6 p.m. Oct. 25, 2017; Thistle Hill, 1509 Pennsylvania Ave.

Upper & Middle Village Creek Parallel Relief Main Project Meeting: 6:30 p.m. Oct. 25, 2017; Souder Elementary School Cafeteria, 201 North Forest Hill Drive Everman.

View the full city calendar.