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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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Urban Design Commission Public Hearing: 10 a.m. Feb. 22, 2018; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.
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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.
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Housing Development Corporation of Fort Worth: 5 p.m. Feb. 22, 2018; Fort Worth Housing Solutions Administrative Office Board Room, 1201 East 13th Street.
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Wind Terrace, Inc.: 5 p.m. Feb. 22, 2018; Fort Worth Housing Solutions Administrative Office Board Room, 1201 East 13th Street.
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Cavile Public Facility Corporation: 5 p.m. Feb. 22, 2018; Fort Worth Housing Solutions Administrative Office Board Room, 1201 East 13th Street.
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Master Composter Class: 6 p.m. Feb. 22, 2018; Tarrant Area Food Bank Administrative Building, 2525 Cullen, 76107.
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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.
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Deferred Compensation Oversight Committee: 9 a.m. Feb. 23, 2018; Fort Worth Credit Union Board Room, 200 Texas Street.
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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.
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Master Composter Class: 6 p.m. Feb. 23, 2018; Tarrant Area Food Bank Administrative Building, 2525 Cullen, 76107.
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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.
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Building Standards Commission Pre-Meeting: 9 a.m. Feb. 26, 2018; City Hall, 2nd flr., City Council Conference Room 290, 200 Texas Street.
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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.
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Building Standards Commission Meeting: 9:30 a.m. Feb. 26, 2018; City Hall, 2nd flr., City Council Chamber, 200 Texas Street.
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