STATE of DOWNTOWN
2017
ForewordWelcome to our thirteenth edition of the State of Downtown report. This publication is produced by Downtown Fort Worth, Inc. (DFWI) and Fort Worth Improvement Districts (PID), #1 and #14 to communicate the underlying economic trends shaping our center city.
Downtown Fort Worth continued its outstanding momentum in 2017. Office rental and occupancy rates compare favorably with other North Texas Submarkets while hospitality and multi-family residential performance has inspired a new wave of construction. Retail remained strong and residential sales and leasing activity reached new highs.
The State of Downtown is your window into the economic forces shaping our center city. DFWI’s Director of Research compiles the data presented in the State of Downtown throughout the year. In addition, quarterly and monthly updates for certain market segments are available upon request.
Your thoughts on how to improve this publication are welcome, and we encourage you to share your insights with us.
On behalf of Downtown Fort Worth, Inc. and Fort Worth Improvement Districts #1 and #14, thank you for your interest in Downtown.
Table of Contents Year in Review ............................................. 2
Office and Employment ..............................10
Population and Housing ..............................18
Hospitality ..................................................34
Retail...........................................................40
Quality of Life .............................................46
Education ....................................................50
Transportation ............................................52
PID Advisory Board ....................................58
Arrie Mitchell Director of Research [email protected]
Melissa Graham Chair of the Board
Public Improvement District #1
Rick Baumeister Chair of the Board Downtown Fort Worth, Inc.
Cover Photo: Autograph Marriott Hotel Construction 5th and Main
DOWNTOWN FORT WORTHCURRENT & PLANNED PROJECTS
ABOUT US
DFWI’s Mission
The mission of Downtown Fort Worth, Inc., is to be the catalyst for transforming Downtown into a vibrant place to live, visit, enjoy and conduct business through aggressive leadership of programs, projects and partnerships.
Who We Are
Formed in 1981, DFWI is Downtown Fort Worth’s planning, advocacy, public space and project management organization. DFWI also builds Downtown Fort Worth’s vitality by serving as a liaison, ombudsman, and information source for property owners, residents, business owners, lenders, developers, community organizations and policy makers.
What We Do
DFWI is a 501(c)(6) non-profit membership organization. In addition to coordinating the Downtown planning process, advocacy, member services, communications and Downtown leadership, DFWI members founded the first Public Improvement District (PID) in the state of Texas in 1986. DFWI continues to manage PID #1 and also manages PID #14. These PIDs provide enhanced services to property owners including maintenance and landscaping, public space management, promotions and marketing, research, transportation, planning and security enhancements to 564 acres of Downtown.
DFWI also administers the Downtown Tax Increment Finance District (TIF) by contract with the City of Fort Worth. Eligible TIF projects include parking, infrastructure assistance to new developments, historic preservation, affordable housing, transportation and education.
Downtown Fort Worth Initiatives, Inc. (DFWII) is a 501(c)(3) non-profit corporation that provides a pathway for foundation grants, philanthropic donations and other contributions to help fund charitable, educational and public-purpose Downtown projects. Each year DFWII helps to bring more than 500,000 people to Downtown by producing the MAIN ST. Fort Worth Arts Festival and the XTO Energy Parade of Lights. DFWII also developed the JFK Tribute in Fort Worth, redeveloped Burnett Park and is currently administering the Heritage Park restoration design. DFWII is a partner with Fort Worth Housing Solutions in the 172-unit, mixed-income Hillside Apartment community.
1STATE OF DOWNTOWN FORT WORTH 2017
TIF PID #1 PID#14
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STATE OF DOWNTOWN FORT WORTH 2017
DOWNTOWN BY THE NUMBERS
2
2,752 acres
4.3 square miles
1,570 Downtown businesses
36,437 private employees
13.7 MILLION square feet of office space
2,881 hotel rooms
7,783 Downtown residents
4,323 residential units
45,285 Downtown employees (all jobs)
$84,689 average private payroll per employee
$3.1 BILLION private payroll in 2015
At $3,085,798,000 Downtown generates a larger payroll than any other employment center in the county, contributing
18.7 times
its geographic weight in private payroll
$3.6 Billion appraised value of property in Downtown Fort Worth in 2017
$72.9 Billion appraised value of property in the City of Fort Worth in 2017
$210.6 Billion appraised value of property in Tarrant County in 2017
$17.5 Million in hotel taxes paid in Downtown 2017
$60 Million in property taxes paid in Downtown in 2017
$2,324,658,621 in total taxes paid Downtown 1992-2017
Sources: City of Fort Worth, Downtown Fort Worth, Inc., Tarrant County, U.S. Census Bureau, State of Texas
Downtown Fort Worth is a 4.3-square mile, high-performing North Texas submarket. With over 45,000 employees, Downtown Fort Worth is the largest employment center in Tarrant County. Private payroll generated in Downtown exceeds $3.1 billion per year, the highest among employment centers in the county.
The labor force in Fort Worth grew by 28.5% from December 2008 to December 2017. This is 7.9 times faster than the national labor force, which grew at 3.6%. Fort Worth grew 1.8 times faster than Texas at 15.7%. Over this same period Fort Worth added 97,534 jobs, increasing its employment by 31.9%. During the same period Texas increased its employment by 17.9%, while national employment increased by 7.2%.
The Fort Worth-Arlington metro area’s annual employment growth rate from December 2016 to December 2017 was 2.8% compared to 1.2% for the nation. The unemployment rate for the City of Fort Worth was 3.3% in December 2017, lower than the national rate of 4.1%.
The Dallas-Fort Worth-Arlington metropolitan area’s population grew from 5,161,544 in 2000 to 7,089,888 in 2015.
Trini
ty Rive
r
Downtown is bordered by I-30, I-35 and the Trinity River.
3STATE OF DOWNTOWN FORT WORTH 2017
Contribution of Fort Worth to Regional Growth
Population: From 2000 to 2015, 30.2% of regional population growth (for cities with more than 100,000) occurred in Fort Worth. Source: U.S. Census Bureau
Arlington 5.5% Carrollton 2.4%
Denton 5.1% Dallas 11.2%
Frisco 12.1%
Garland 2.1%
Grand Prairie 6.0%
Irving 4.5%
McKinney 10.9%
Mesquite 2.1%
Plano 6.2%
Richardson 1.9%
Fort Wort
h 3
0.2
%
Job Growth from December 2008 to December 2017
112,015
97,534
0
80,000
60,000
90,000
110,000
100,000
120,000
Dallas Fort Worth
Employment: Employment in Fort Worth grew by 31.9% from pre-recession December 2008 to December 2017. Source: Texas Workforce Commission
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STATE OF DOWNTOWN FORT WORTH 20174
Office: The office market in Downtown Fort Worth absorbed over 307,000 square feet of office space since 2012 while occupancy remained on par with the national average. Occupancy of office space in Downtown Fort Worth in 4Q 2017 was 90.6%, equal to the national average occupancy of 90.6%. A large percentage of Downtown multi-tenant office space is occupied by tenants of less than 4,000 square feet. This has a stabilizing influence on the market. In 2017, more than 68% of the leasing activity occurred with firms of that size.
Leasing Activities, Share of Market SPACE (SF) 2016 2017
<4,000 78% 68%
4,001 – 10,000 13% 22%>10,001 9% 10%Source: CoStar
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All Office Space Occupancy
4Q 2017Class A Office Space Occupancy
4Q 2017Retail Space Occupancy
4Q 2017
90.6%
87.7%
90.6%
50%
60%
70%
80%
90%
100%
Fort
Wor
th
USA
Dow
ntow
nFo
rt W
orth
87.8% 86.8% 87.0%
Fort
Wor
th
USA
Dow
ntow
nFo
rt W
orth
95.5% 95.6% 97.1%
Fort
Wor
th
USA
Dow
ntow
nFo
rt W
orth
5STATE OF DOWNTOWN FORT WORTH 2017
3.0% 3.5%
4.4%
5.4%
4.0% 3.3%
4.9%
3.3%
4.8%
3.2% 3.9%
4.4% 4.2% 4.6% 4.9%
3.4% 3.6% 3.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
Austin
Boston
Charlo
tte
Chicag
o
Columbu
s
Dallas
Detroit
Fort W
orth
Housto
n
Indian
apolis
Jack
sonvill
e
Los A
ngele
s
Memph
is
New Yo
rk City
Philad
elphia
Phoe
nix
San Anto
nio
San Dieg
o
San Fr
ancis
co
San Jo
se
4.5%
3.0%
4.3%
4.2%
4.8%
4.5%
4.5%
4.7% 4.6%
4.5%
4.5%
4.0%
4.1%
4.4%
4.0%
3.9%
4.3% 4.3%
4.2% 4.0%
3.9%
4.3%
4.2%
4.1%
4.4%
3.5%
3.5%
4.2%
3.1%
3.1%
4.1%
3.3%
3.3%
4.1%
3.3%
3.3%
4.1%
3.0%
4.0%
3.5%
4.5%
5.5%
5.0%
Jan-1
7
Feb-1
7
Mar-17
Apr-17
May-17
Jun-1
7
Jul-1
7
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Dallas USA Fort Worth
4.3%
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Unemployment Rate in 2017
Unemployment Rate Among 20 Largest U.S. Cities December 2017
Employment Growth December 2017 Over December 2016
2.9% 2.8%
1.2%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
Dallas Fort Worth USA
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.S. B
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Lab
or S
tatis
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STATE OF DOWNTOWN FORT WORTH 20176
Residential: Development remained strong in Downtown with 93 units added and an additional 1,078 units under construction by December of 2017. Trinity Terrace, a 79-unit, 23-story senior housing tower, and the 11 townhomes on Henderson Street, the first owner-occupied new product in five years, were completed in 2017. Broadstone 5th and Summit, a 345-unit apartment community adjacent to the Pier One Building, Alexan Summit, a 380-unit apartment community, and Kelley at Samuels Ave, a 353-unit apartment community are under construction and are nearing completion at time of publication.
Several new projects are expected to break ground in 2018; currently there are 1,465 units in eight projects in the planning process.
The multifamily average rent in Downtown increased 8.3% in 2017 to $1.83 per square foot. Apartment occupancy averaged 96.6% in 2017.
Demand for condominiums and townhomes remained high in 2017. One hundred ten owner-occupied units sold in 2017 through MLS, while prices continued to increase. Through the fourth quarter of 2017, the average price per square foot for a Downtown residential unit sold through the MLS system was $242.73, relatively equal to the 2016 price, and a 29.1% increase since 2013.
Price of Condos and Townhomes Sold by Year
Average Apartment Rental Rates and Average Occupancy Rates
Sour
ces:
Nat
iona
l Ass
ocia
tion
of R
ealto
rs a
nd N
orth
Tex
as
Rea
l Est
ate
Info
rmat
ion
Syst
em, I
nc.
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ownt
own
Fort
Wor
th, I
nc.
$190,000
$234,226$250,542
$219,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
2013 2014
AverageMedian
$341,872
$252,450
2015
$326,421
$262,750
2016
$295,974
$258,000
2017
$1,547
$1,608
95.6%
96.5%$1,800
$1,850
$1,700
$1,600
$1,500
$1,550
$1,650
$1,750
$1,450
$1,400
98.0%
97.0%
96.0%
95.0%
94.0%
93.0%
92.0%
91.0%
90.0%2014 2015 2016
$1,682
96.9%
2017
$1,804
97.0%Average Rental Rates Average Occupancy
7STATE OF DOWNTOWN FORT WORTH 2017
1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14
$5.0
$4.5
$0
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
Millions
$3.8$3.8 $3.7 $3.5 $3.6
$4.0$3.8
$4.2
1Q 15 2Q 15 3Q 15 4Q 15
$3.8$4.0
$3.7
$4.4
1Q 16 2Q 16 3Q 16 4Q 16
$3.7$4.0
$3.6 $4.0
1Q 17 2Q 17 3Q 17 4Q 17
$4.3
$4.6
$4.1
$4.5
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Hotel Occupancy Taxes Paid Downtown Fort Worth
Hospitality: Downtown Fort Worth hotels have consistently outperformed the national market and other large markets in the Dallas-Fort Worth metropolitan area. As a result, a new wave of hotel development is occurring in Downtown. The 245-room Hampton Inn & Suites was completed in 2017 next to the Fort Worth Convention Center, as was the 114-room Fairfield Inn & Suites. Aloft is remodeling six floors of One City Place tower into a 180-room hotel, which will be completed in early 2018. These three projects combined with three other hotel projects currently in the planning process are poised to bring an additional 1,111 rooms to Downtown.
The occupancy rate in 2017 was 74.4%, higher than the national average of 65.9%. Revenue per available room (RevPAR) was $123.24, significantly above the national average of $83.57.
Hotel occupancy taxes paid in Downtown averaged $4,353,006 per quarter in 2017.
While 20.5% of all Fort Worth hotel rooms are located Downtown, 34.5% of all Fort Worth hotel occupancy taxes were paid in Downtown.
Hampton Inn & Suites
Hotels in Downtown Fort Worth generate 34.5% of all annual
hotel occupancy taxes in the city.
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STATE OF DOWNTOWN FORT WORTH 20178
Retail: The Downtown retail market continues to perform well. With strong year-over-year growth, Downtown continues to attract national and local retailers and restaurants.
Retail occupancies maintained a robust rate of 97.1% in existing space. The average rent per square foot for retail space in Downtown was $29.27.
Cumulative Value of Building Permits Downtown Fort Worth, 2002 – 2017
$752
$956$1,064
$1,171 $1,223 $1,374
$1,446
$1,566$1,672
$0
$500
$1,000
$1,500
$2,500
$2,000
2002-07 2007 2009 2010 2011 2012 2013 2014 2015 2016 2017
$106
$0
$50
$100
$150
$250
$200
$300
2015 2016
$280
$80
2017
Millions
Millions
$1,952$2,032
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t Wor
th
Annual Permits
Retail Occupancy Rate
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92.7
%
95.6
%
93.3
%
93.3
%
95.5
%
93.9
%
90%
91%
92%
94%
93%
96%
95%
97%
98%
4Q 2013 4Q 2014 4Q 2015
94.1
%
96.4
%
94.3
%
4Q 2016
95.2
%
95.3
%
95.1
%
95.3
%
97.1
%
95.5
%
4Q 2017
DFW Downtown Fort Worth USA
H&M in Sundance Square
9STATE OF DOWNTOWN FORT WORTH 2017
$466 Million in New Construction
Permits from 2015-2017
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Frost Tower Fort Worth
STATE OF DOWNTOWN FORT WORTH 201710
Companies get more in Downtown.Pier 1, Alcon, GM Financial, Morningstar, TPG Capital, Cash America…the list of companies with a presence in
Downtown goes on and on. Companies get more than just their office space when they locate in Downtown.
From scores of restaurants and stores within easy walking distance to hotels, conference facilities and mass
transit, Downtown is Fort Worth’s leader in office-related amenities. The new Frost Tower Fort Worth
adds 259,000 square feet of new Class A office product to the market.
45,285 jobs in Downtown
1,570 private businesses
$3 BILLION in private payroll
2,881 hotel rooms
253,326 sq. ft. convention center*Source: CoStar
5-year growth in Class A office space inventory: 10.8%Downtown has 50 square feet of retail space for every 1,000 square feet of office space*
13.6113.69 13.66 13.66
13.75
13.82 13.82
88.6% 89.9% 88.5%
86.1%
89.0%88.5%
75%
80%
85%
90%
95%
100%
13
13.2
13.4
13.6
13.8
14
2009 2010 2011 2012 2013 2014
Inventory Occupancy Million
square feet
91.5%
2015
13.76
90.1%
2016
13.87
90.6%
2017
Office Inventory and Occupancy Rate Downtown Fort Worth
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Class A Office Buildings
Burnett Plaza 1,024,627777 Main 954,895Bank of America Tower 820,509Wells Fargo Tower 716,533Pier One Imports Building 460,000Two City Place 330,000The Carnegie 280,000Frost Tower Fort Worth* 259,000One City Place 231,365Chase Bank Building 202,123Cash America 135,293Cantey Hanger 86,300The Westbrook 80,607The Cassidy 66,940Commerce Building 66,000100 Lexington Building 63,113The Tower 30,000Source: CoStar*Opening 2018
Burnett Plaza
11STATE OF DOWNTOWN FORT WORTH 2017
5,807,305 square feet
of Class A office space
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73.3
%
88.5
%
88.1
%
74.5
% 86
.1%
87
.8%
88.8
%
89.0
%
88.5
%
0%
20%
40%
60%
80%
100%
2012 2013 2014 2015
80.5
% 91
.5%
89
.0%
2016
77.1
%
90.1
%
90.3
%
77.3
%
90.6
%
90.6
%
2017
Dallas CBD Fort Worth CBD USA
-271
256
-215
-3
-348
-496
-621-252
1,119455
422343
238-643
96-185
-1,200
2010
2011
2012
2013
2014
2015
2016
2017
0 300 800 -700 -200 1,300
Downtown Dallas Downtown Fort Worth
Thousand Square Feet
Net Absorption of Office Space
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Class A Office Occupancy Rates Downtown Fort Worth
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84.9%
88.5%
85.5%
88.9% 88.6% 89.5%
84.3% 84.4%
70%
75%
80%
85%
90%
95%
100%
2007 2008 2009 2010 2011 2012 2013 2014
88.0%
2015
86.4% 87.0%
2016 2017
STATE OF DOWNTOWN FORT WORTH 201712
0%
10%
20%
30%
40%
50%
2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
Dallas LBJ Expressway North Irving West Plano Dallas Uptown
0%
10%
20%
30%
40%
50%
2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
15.7% 15.6% 12.0%
12.5%
19.4% 23.8%
19.1%
24.9% 23.8%
23.7%
15.1% 12.8% 13.0%
11.1% 6.8% 7.7%
10.7% 9.2% 10.0%
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
22.2%
12.8%
22.6%
9.8% 9.9%
26.7% 27.0%
23.4%
27.4%
2016 2016 2016 2016
2016 2016 2016 2016
23.3%
19.0% 13.6% 17.3%
26.6%
15.6% 11.8% 9.8%
21.6%
13.0%
2017 2017 2017 2017
2017 2017 2017 2017
17.8%
15.9%
Office Occupancy Rate Fourth Quarter 2017
Metro Area Class A Office Vacancy Rates
2016 2013 2014 2015 2016 2013 2014 2015 2016 2013 2014 2015
2016 2013 2014 2015 2016 2013 2014 2015 2016 2013 2014 2015 2016 2013 2014 2015
9.8%
16.8%
14.4%
22.0% 19.4%
23.0%
Dallas LBJ Expressway North Irving West Plano Dallas Uptown
18.8%
25.7% 24.2%
9.9% 10.1%
0%
10%
20%
30%
40%
50%
15.2%
10.5% 10.1%
11.7%
8.8% 10.5%
10.6%
2017
13.2%
11.0%
2017
9.8%
2017
11.5% 23.9%
2017
24.7%
13.6%
13.3%
2017
14.5%
17.5%
25.5%
21.2%
2017
19.3%
22.9% 22.7%
2017
21.9%
0%
10%
20%
30%
40%
50%
2016 2013 2014 2015
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
13.9% 11.0% 8.5%
2017
9.9% 9.4% 22.0%
Metro Area Office Vacancy Rates
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7So
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: CoS
tar –
Fou
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quar
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017
13STATE OF DOWNTOWN FORT WORTH 2017
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Metro Area Class B Office Rental Rates ($/SF)
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7
Metro Area Class A Office Rental Rates ($/SF)
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h qu
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7
0%
10%
20%
30%
40%
50%
0%
10%
20%
30%
40%
50%
2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
Dallas LBJ Expressway North Irving West Plano Dallas Uptown
2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
2016 2016 2016 2016
2016 2016 2016 2016
2017 2017 2017 2017
2017 2017 2017 2017
$28.55
$28.74
$29.22 $28.16 $18.31 $18.61
$16.48
$25.79 $19.62
$22.03 $27.63
$23.25
$25.63 $32.42
$28.96
$29.72 $39.91
$31.21
$35.69
$26.69
$25.69
$32.53
$40.28
$29.40
$26.26
$22.81 $23.36
$26.04 $28.50
$18.68
$23.44
$24.86 $28.66
$18.43
$24.67 $26.72 $32.03
$37.80
$24.96 $27.13
0%
10%
20%
30%
40%
50%
0%
10%
20%
30%
40%
50%
2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
2013 2014 2015 2013 2014 2015 2013 2014 2015 2013 2014 2015
2016 2016 2016 2016
2016 2016 2016 2016
2017 2017 2017 2017
2017 2017 2017 2017
Dallas LBJ Expressway North Irving West Plano Dallas Uptown
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
$20.86
$21.28
$19.90
$23.28 $18.72 $19.71
$22.13
$22.72
$13.77 $13.87 $15.65
$18.01
$15.65
$16.81
$17.84 $18.84 $20.16
$23.67
$32.69
$25.58
$30.06
$19.11 $26.22
$32.01
$22.74 $17.94
$19.09
$21.26
$25.16
$16.10 $20.92
$20.36
$23.42
$14.89
$17.39 $20.65 $31.49 $21.09
$19.84
$22.36
STATE OF DOWNTOWN FORT WORTH 201714
Average Office Rental Rates Downtown Fort Worth
$24.97 $28.52
$25.92 $24.96 $26.80 $27.52
$29.22
$19.10 $20.14
$18.08 $18.29 $19.05 $19.60
$20.86
$15
$20
$25
$30
$35
2007 2008 2009 2010 2011 2012 2014 2013
Class A Class B
$28.74
$21.28
2015
$28.66
$19.90
2016
$28.55
$20.92
2017
$29.40
$22.36
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Downtown, the Near Southside and the West Side combined generate $6,043,171,000 in annual payroll. Downtown Fort Worth has the highest number of employees and generates the largest payroll among all the employment centers in the county.
$43,397
$84,689
$64,447
$0
$30,000
$60,000
$90,000
Downtown Near Southside Cultural District
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201
5
Average Payroll Per Employee in Private Sector
ZIP CODE (SUBMARKET)PRIVATE SECTOR
EMPLOYEES PAYROLLPAYROLL PER
EMPLOYEE
76102 (Downtown) 36,437 $3,085,798,000 $84,689
76104 (Near Southside) 29,096 $1,875,145,000 $64,447
76107 (West Side) 24,938 $1,082,228,000 $43,397
15STATE OF DOWNTOWN FORT WORTH 2017
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$32.53
$21.02
$25.69
$29.00
$29.40
$18.12
$40.28
$18.68
$41.00
$26.69
$28.50
$26.04
$26.22
$18.70
$21.09
$24.02
$22.36
$26.23
$32.01
$16.10
$32.38
$19.11
$25.16
$21.76
$0 $5 $10 $15 $20 $25 $30 $45 $35 $40
West Plano
Mid-Cities
North Irving/Las Colinas
Fort Worth Southwest
Downtown Fort Worth
Alliance
Dallas Uptown
Dallas Stemmons Freeway
Dallas Preston Center
Dallas LBJ
Dallas Central Expressway
Downtown Dallas
Class A Class B
Unemployment Rates in 2017
Sour
ce: T
exas
Wor
kfor
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omm
issi
on
4.8% 4.7%
4.5% 4.4% 4.3% 4.3% 4.3% 4.4%4.2%
4.1% 4.1% 4.1%
4.2%
4.5%
4.5% 4.1% 4.0% 4.2%
3.1%
3.3%
3.3%
4.3%
4.0%3.9%
4.2%
3.9%
4.1%
3.5%3.1%
3.3%
3.3%
3%
4%
5%
6%
Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17
Dallas Fort WorthUSA
4.6%
3.5%
4.0%4.5%4.3%
STATE OF DOWNTOWN FORT WORTH 201716
Business Profile – Number of Businesses Per Category Downtown Fort Worth
Sour
ce: U
.S. C
ensu
s Bu
reau
201
5
36
5
27
57
94
386
86
89
30
122
52
87
6
256
9
38
20
76
94
0 50 100 150 200 250 300 350 400
Wholesale Trade
Utilities
Transportation
Retail Trade
Real Estate
Professional, Scientific, and Technical Services
Other Services
Mining
Manufacturing
Management of Companies
Information
Health Care
Forestry, Fishing
Finance and Insurance
Education Services
Construction
Arts, Entertainment, and Recreation
Administrative and Support
Accommodation and Food Services
National Regional Office Statistics 4Q 2017AVERAGE ASKING
RENTOVERALL
VACANCY RATE
Atlanta $23.21 11.6%
Austin $33.77 8.1%
Boston $22.65 7.9%
Chicago $23.71 13.0%
Dallas/Fort Worth $25.01 14.7%
Denver $26.32 10.5%
Houston $27.76 16.3%
Los Angeles $35.03 10.5%
New York $65.96 8.1%
Philadelphia $22.94 8.3%
Phoenix $24.57 14.7%
Seattle $32.39 7.6%
Washington, DC $35.88 14.0%Source: CoStar
Total private employees: 36,437
Total number of businesses: 1,570
Annual payroll: $3,085,798,000
17STATE OF DOWNTOWN FORT WORTH 2017
STATE OF DOWNTOWN FORT WORTH 201718
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Lifesty
le 3
6.7
%
School 2.2%
Community 3.4%
Convenience 12.0%
Location 30.9%
Work 14.8%
Reason for Living Downtown
Lifestyle was selected as the primary reason for living Downtown by 44.9% of condo/townhome owners
and 28.6% of apartment renters.
Living the Downtown lifestyleThe Downtown residential inventory is growing dramatically. In 2017, 1,516 new units were under
construction or completed. This new product will result in a 35.8% increase of the number of
Downtown units. A testimony to the appeal of the Downtown as a place to live; only 14.8% of
Downtown residents list Downtown as their workplace. 36.7 % of Downtown residents
report that they live downtown because of the lifestyle.
Broadstone 5th and Summit construction
19STATE OF DOWNTOWN FORT WORTH 2017
Very unsafe 0.6%Unsafe 4.0%
Very Safe
Safe65.8%
29.7%
Neighborhood Safety Downtown Fort Worth
Residents perceive Downtown as safe.
• 95.4% of residents ratedtheir neighborhood as safeor very safe.
• 98.8% of residents feel safeor very safe walking inDowntown during the day.
• 86.2% of residents feel safeor very safe walking inDowntown after dark.
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Downtown has maintained a 95.7% average apartment occupancy since 2011,
while increasing inventory by 29.4%
7,783 people live in DowntownDensity of 2,262 residents per square mile in Downtown
(1,121 housing units/sq mile)
City of Fort Worth density of 2,387 residents per square mile (565.3 housing units/sq mile)
$258,000 median sale price of Downtown condos/townhomes purchased in 2017
17.8% increasein average apartment rent since 2010-$1,531/2010 to $1,804/2017
$734,000: top Downtown condo sale in 2017
19.6% of the 2017 condo sales in Fort Worth were located in Downtown82.7% of Downtown condo owners have income greater than $100,000
Downtown residents median household is 91% greater than national median income
82% of Downtown residents have a bachelors degree or higher
Downtown residents spend on average $58 million a year in Downtown restaurants, bars and retail
Downtown added 93 residential units in three projects in 2017
2,543 residential rental units planned or under construction will increase the Downtown housing stock by 58.8%
STATE OF DOWNTOWN FORT WORTH 201720
Pop
ula
tion
an
d H
ousi
ng Residential – For Sale
Housing affordability has been one of Fort Worth’s competitive advantages. In 2016, the median value of a home in Fort Worth was $131,100, compared to $257,800 in Austin and $152,600 in Dallas. The median home value in the U.S. was $184,000. (U.S. Census 2016)
Currently, there are 939 owner-occupied condominiums and townhomes Downtown, up 900 units, a 2,308% growth since 2003. The median sale price of a home in Downtown Fort Worth was $258,000 in 2017.
Residential – For Rent
The rental market remained at historically high occupancy. Currently, there are 2,906 units in Downtown with monthly rents ranging from $1,100 to $7,800 (4Q 2017). The occupancy rate of rental units in Downtown has stayed above 94% since 2010. Although 380 units became available in 2016 and 2017 (a 15.1% increase), occupancy remained above 95% and finished the year at 96.7%. During the national recession that lasted from December 2007 through June 2009, apartment occupancy in Downtown did not decline below 92% in any quarter, despite hefty additions to the inventory.
Top 10 State Population Gain April 1, 2010, through July 1, 2016
367,179
621,691 Georgia
410,767Virginia 511,221Colorado
538,770Arizona
563,455 Washington 611,100 North Carolina
1,807,847
1,995,495
2,716,496
0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000
New York
Florida
California
Texas
Sour
ce: U
.S. C
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reau
Fastest-Growing Metropolitan Areas Population Added April 1, 2010, through July 1, 2016
343,605
359,094
468,410
481,486
495,561
500,089
502,975
587,163
807,082
851,971
0 100,000 200,000 300,000 600,000 900,000 800,000 700,000 400,000 500,000
Phoenix-Mesa-Scottsdale, AZ
Seattle-Tacoma-Bellevue, WA
San Francisco-Oakland-Hayward, CA
Washington-Arlington-Alexandria, DC-VA-MD-WV
Los Angeles-Long Beach-Anaheim, CA
Miami-Fort Lauderdale-Pompano Beach, FL
Houston-The Woodlands-Sugar Land, TX
Atlanta-Sandy Springs-Roswell, GA
Dallas-Fort Worth-Arlington, TX
New York-Newark-New Jersey, NY-NJ-PASo
urce
: U.S
. Cen
sus
Bure
au
21STATE OF DOWNTOWN FORT WORTH 2017
Regional City Population Change 2000 – 20162000 2016 % CHANGE
Austin, TX 656,562 947,897 44.4%Baton Rouge, LA 227,818 227,707 0.0%Dallas, TX 1,188,580 1,317,942 10.9%El Paso, TX 563,662 683,088 21.2%Fort Worth, TX 534,694 855,897 60.1%
Houston, TX 1,953,631 2,304,388 18.0%Little Rock, AR 183,133 198,546 8.4%Oklahoma City, OK 506,132 638,311 26.1%San Antonio, TX 1,144,646 1,492,484 30.4%Shreveport, LA 200,145 194,472 -2.8%Tulsa, OK 393,049 403,622 2.7%Source: U.S. Census Bureau
Regional City Change in Median Family Income 2000 – 2016CITY 2000 2016 % CHANGE
Austin, TX $54,091 $86,615 60.1%Baton Rouge, LA $40,266 $54,726 35.9%Dallas, TX $40,921 $51,388 25.6%El Paso, TX $35,432 $49,389 39.4%Fort Worth, TX $42,939 $64,019 49.1%
Houston, TX $40,443 $52,603 30.1%Little Rock, AR $47,446 $62,962 32.7%Oklahoma City, OK $42,689 $65,791 54.1%San Antonio, TX $41,331 $57,031 38.0%Shreveport, LA $37,126 $43,945 18.4%Tulsa, OK $44,518 $55,085 23.7%USA $50,046 $71,062 42.0%Source: U.S. Census Bureau
The Dallas- Fort Worth
metropolitan area population grew by
807,082 from 2010–2016.
STATE OF DOWNTOWN FORT WORTH 201722
Pop
ula
tion
an
d H
ousi
ng Demographics of Downtown
Fort Worth Residential Population
With the addition of more apartments, the Downtown Fort Worth residential population is becoming more diverse, wealthier and better educated and has grown at an annual rate of 6.3% since 2007. Currently, 7,783 people live in Downtown. DFWI has conducted five surveys of residents since 2007 to monitor trends in the changing demographics of the Downtown population. Our latest survey was conducted in December 2017.
A one-sheet survey instrument was delivered to 3,128 households in Downtown using first-class postage. The response rate was 11.1%, providing a margin of error of +/-.5% at a 95% confidence level.
A summary of the survey and trends are presented here. The full report will be available spring of 2018 for download from DFWI’s website at www.dfwi.org, or contact Arrie Mitchell at [email protected] to receive a copy.
Median annual household income:
Median household income in Downtown is $113,000
Downtown resident’s previous place of residence
18.5% within five miles of Downtown
44.5% within 10 miles of Downtown
55.8% within 20 miles of Downtown
67.3% within the Metroplex
Employment:19.7% Health Care11.8% Education�11.8% Science &
Engineering11.8% Finance7.4% Real Estate5.9% Retail6.7% Government6.1% Law
38.8% of Downtown residents are under 40 years old
62.1% of apartment renters are under 40 years old
54.5% of Downtown residents have income greater than $100,000
52.2% of Downtown residents are unmarried
94.5% of households have no children living in the household
Downtown residents are highly educated. 44% of residents have a
bachelor’s degree
25.2% a master’s degree
12.9% a doctoral degree
(including JDs)
UTA Fort WorthLifestyle was cited as the primary reason for living Downtown by 44.9% of condominium/townhome owners and 28.6% of apartment renters
23STATE OF DOWNTOWN FORT WORTH 2017
Downtown Population Study Area
Age Distribution Downtown Fort Worth Residents
5.2%
1.3%
9.8%
33.6%
17.1%
52.3%
24.2%
28.5%
19.0% 20.8%
29.1%
11.8%
16.2%
24.1%
7.2%
0%
10%
20%
40%
30%
60%
50%
<25 25-40 41-55 56-65 >65
62.1%
37.9% 18.4%
81.6%
0.0%
50%
75%
100%
Residents40 and under
Residents over 40
Apartments Condos/Townhomes
All Residents
Apartments
Condos/Townhomes
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STATE OF DOWNTOWN FORT WORTH 201724
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Marital Status Downtown Fort Worth
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Children in the Household Downtown Fort Worth
4.5%
95.5%
5.5%
94.5%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
With children Without children
2014 2017
44.2%
55.8% 52.2%
47.8%
0.0%
20.0%
40.0%
60.0%
80.0%
Married Not married
2014 2017
Highest Degree Completed
44.0%
38.2%
18.5%
9.1%
19.3%
11.9%
0%
20%
40%
60%
Bachelor’s Graduate/Professional
Downtown Fort Worth USA
Highest Degree Completed Downtown Fort Worth
48.1%
36.9%
44.0%
38.2%
0.0%
20.0%
40.0%
60.0%
80.0%
Bachelor’s Graduate
2014 2017
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ces:
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sus
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and
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Sundance Square Plaza
25STATE OF DOWNTOWN FORT WORTH 2017
Household Income Trends Downtown Fort Worth
41.7% 48.9%
9.4% 4.4%
41.1%
54.5%
0.0%
20.0%
40.0%
60.0%
Less than $50,000- $100,000
2014 2017
1.1%
27.1% 27.2%
3.3%
18.1% 18.2% 19.6% 19.2%
17.8%
21.5% 21.6% 20.6%
54.5%
14.0% 16.2%
0%
10%
20%
30%
40%
50%
60%
Less than $30,000 $30,000- $49,999
$50,000- $74,999
$75,000-$100,000
More than$100,000
Downtown Fort Worth USA
0.8% 0.0% 4.7%
1.5%
27.3%
6.0%
21.1%
9.8%
46.1%
82.7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Less than $30,000 $30,000- $49,999
$50,000-$74,999
$75,000-$100,000
More than$100,000
Condos/Townhomes Apartments
Median Household Income Downtown Fort Worth
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Trinity Terrace
41.7% 48.9%
9.4% 4.4%
41.1%
54.5%
0.0%
20.0%
40.0%
60.0%
Less than$50,000
$50,000- $99,999
$100,000 and above
2014 2017
1.1%
27.1% 27.2%
3.3%
18.1% 18.2% 19.6% 19.2%
17.8%
21.5% 21.6% 20.6%
54.5%
14.0% 16.2%
0%
10%
20%
30%
40%
50%
60%
Less than $30,000 $30,000- $49,999
$50,000- $74,999
$75,000- $100,000
More than$100,000
Downtown Fort Worth USA
STATE OF DOWNTOWN FORT WORTH 201726
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tion
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7.2
7.5
6.9
5 6 7 8 9 10
All Residents
Condo/Townhome Residents
Apartment Residents
$101.67
$125.51
$80.58
$0 $20 $40 $60 $140$100 $120$80
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
4.2
3.9
4.5
0 1 2 3 4 5 6
$58.61
$67.10
$52.19
$0 $30 $10 $20 $40 $60 $50 $70
Downtown residents patronize Downtown businesses.
97.8% go to Downtown restaurants, 84.4% to bars, 71.8% to convenience/drug stores and 73.7% to retail stores. Condominium and townhome owners eat at Downtown restaurants an average of 7.5 times per
month and spend $125.51 per visit. Apartment renters eat at Downtown restaurants an average of 6.9 times per month and spend $80.58 per visit.
Average Monthly Visits to Downtown Restaurants by Downtown Residents and Spending Per Visit
Average Monthly Visits to Downtown Bars by Downtown Residents and Spending Per Visit
7.2
7.5
6.9
5 6 7 8 9 10
All Residents
Condo/Townhome Residents
Apartment Residents
$101.67
$125.51
$80.58
$0 $20 $40 $60 $140$100 $120$80
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
4.2
3.9
4.5
0 1 2 3 4 5 6
$58.61
$67.10
$52.19
$0 $30 $10 $20 $40 $60 $50 $70
Average Monthly Visits to Downtown Convenience/Drug Stores by Downtown Residents and Spending Per Visit
Average Monthly Visits to Downtown Clothing Stores by Downtown Residents and Spending Per Visit
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
2.5
2.2
2.6
0 1 2 3 4 5
$40.05
$42.21
$38.24
$37 $39 $41 $43
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
1.7
2.0
1.5
0 1 2 3 4 5
$108.83
$131.06
$85.79
$0 $50 $100 $150
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27STATE OF DOWNTOWN FORT WORTH 2017
Very Clean
Clean
Very unclean 0.0%
Unclean 3.9%
52.9%
43.2%
Street and Sidewalk Cleanliness Downtown Fort Worth
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Residents perceive Downtown as clean.
96.1% of residents rated the streets and sidewalks Downtown as clean or very clean.
Houston Place Lofts
STATE OF DOWNTOWN FORT WORTH 201728
Pop
ula
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Number of Residential Units Sold
0
2,000
4,000
12,000
6,000
8,000
10,000
14,000
Dallas Fort Worth
Single-Family Residences Condos/Townhomes
9,216
12,442
3,284
568
8,609
11,781
3,239
479
Dallas Fort Worth
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stem
, Inc
.
Sales Ratio of Condos and Townhomes to Single-Family ResidencesYEAR DALLAS FORT WORTH
2012 20.6% 3.5%2013 33.6% 3.9%2014 26.9% 4.5%2015 39.4% 4.2%2016 37.6% 4.1%2017 35.6% 4.6%Source: North Texas Real Estate Information Systems, Inc.
Condominiums and Townhomes Built and Sold Downtown Fort Worth
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ce: N
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Tex
as R
eal E
stat
e In
form
atio
n Sy
stem
, Inc
.
394 112 0 10 110 0 0 0
103
56
36 47 39
62 63
102
0
50
100
150
200
250
300
350
400
450
2007 2008 2009 2010 2011 2012 2013 2014
0 0
2015 2016
Built Sold
100 94
2017
110
20172016
Market Opportunity
250 Lancaster
29STATE OF DOWNTOWN FORT WORTH 2017
Median sales price for Downtown
condos and townhomes increased
31.6% since 2010.
Average Residential Sales Price Per Square Foot Condominiums and Townhomes 2017
North Texas Downtown Dallas Downtown Fort Worth
$164
$257
$243
$0
$50
$100
$150
$200
$300
$250
Median Sales Price Condominiums and Townhomes 2017
$213,000
$280,000
$258,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
North Texas Downtown Dallas Downtown Fort Worth
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orth
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e In
form
atio
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stem
, Inc
.
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atio
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s, In
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Average Days on Market Condominiums and Townhomes 2017
North Texas Downtown Dallas Downtown Fort Worth
41
52
66
0
10
20
30
40
50
60
70
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atio
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, Inc
.
Downtown Condominium and Townhome Sales As Percentage of City
YEAR FORT WORTH
DOWNTOWN
2009 286 36 12.6%2010 242 47 19.4%2011 216 39 18.1%2012 315 62 19.7%2013 395 63 15.9%2014 495 102 20.6%2015 483 100 20.7%2016 479 63 19.6%2017 568 110 19.4%Source: North Texas Real Estate Information System, Inc.
19.4% of all condominiums and townhomes sold in Fort Worth in 2017 were in Downtown.
STATE OF DOWNTOWN FORT WORTH 201730
Pop
ula
tion
an
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ousi
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Median Residential Sales Price Per Square Foot Downtown Fort Worth
$188 $198
$230
$286
$219
$183 $196
$242 $243 $243
$0
$50
$100
$150
$200
$250
$300
2013 2014 2015 2016 20172008 2009 2010 2011 2012
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atio
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s, In
c.
Median Residential Sales Price Downtown Fort Worth
$190,000
$219,000
$258,000$252,450
$225,450
$281,000
$196,000
$262,750
$219,900 $212,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
2008 2009 2010 2011 2012 2014 2015 2016 2017 2013
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Lincoln Park at Trinity Bluff
31STATE OF DOWNTOWN FORT WORTH 2017
$2,000
$1,900
$1,700
$1,800
$1,600
$1,500
$1,400
2014 20151Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
20161Q 2Q 3Q 4Q
20171Q 2Q 3Q 4Q
$1,552
$1,518
$1,572 $1,565
$1,605 $1,606
$1,657
$1,599
$1,607
$1,727
$1,861
$1,739
$1,789
$1,886
$1,803
$1,547
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99.0%
90.0%
91.0%
92.0%
93.0%
94.0%
95.0%
96.0%
97.0%
98.0%
2014 2015 20161Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
20171Q 2Q 3Q 4Q
96.5%
94.6% 94.7%
96.5%96.9%
97.8%
95.1%
96.3%
95.6%
97.5%
96.5%96.9%
97.1%96.7%
96.0%96.7%
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Average Apartment Occupancy Rate Downtown Fort Worth
$1.80
$1.70
$2.00
$1.90
$1.60
$1.50
$1.30
$1.40
2014 2015 20161Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
20171Q 2Q 3Q 4Q
$1.43
$1.40
$1.50 $1.47
$1.54$1.58 $1.56
$1.65$1.61 $1.62
$1.73
$1.87
$1.76
$1.81
$1.90
$1.83
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Average Apartment Rent Per Square Foot Downtown Fort Worth
Average Apartment Rent Downtown Fort Worth
STATE OF DOWNTOWN FORT WORTH 201732
Pop
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Residential Units Planned, Announced and/or Under Construction Downtown Fort Worth
PROJECT UNITS YEAR
Broadstone 5th and Summit 345 2018Alexan Summit 380 2018311 Nichols 56 2018Burnett Lofts 254 2019Kelley at Samuels Avenue 353 2019The Worth 138 2019Hilton Annex 143 2019The Hampton 350 2020901 Commerce 250 2020Rocklyn 274 20207th and Summit TBD 2020Total 2,543Source: Downtown Fort Worth, Inc.
Average Monthly Apartment Rent Per Square Foot Downtown Fort Worth
$1.69$1.83
$0.00
$0.50
$1.00
$1.50
$2.00
2017
$1.45
2014 2015
$1.58
2016
$1,804
$1,682
$1,450
$1,500
$1,550
$1,600
$1,650
$1,750
$1,850
$1,700
$1,800
2014 2015
$1,547
$1,608
2016 2017
Average Monthly Apartment Rent Downtown Fort Worth
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2,543 units currently planned
or under construction.
The Worth
Burnett Lofts
33STATE OF DOWNTOWN FORT WORTH 2017
Rate of Growth Condominiums and TownhomesPERIOD FORT WORTH DOWNTOWN
2006 – 2010 14% 141%2000 – 2005 17% 937%Sources: Downtown Fort Worth, Inc., and the City of Fort Worth
Rate of Growth of Renter-Occupied UnitsPERIOD FORT WORTH DOWNTOWN
2016-2017 9.4% 11.0%2011 – 2014 5.4% 12.4%2006 – 2010 17.7% 35%2000 – 2005 5.9% 14.3%Sources: Downtown Fort Worth, Inc., and the City of Fort Worth
Average Monthly Apartment Rent Per Square Foot Downtown Fort Worth
Housing Construction in Downtown Fort Worth Owner-Occupied Condominiums and Townhomes
Housing Construction in Downtown Fort Worth Renter-Occupied Units
0
100
200
300
400
500
600
700
800
900
1,000
2000-2005
Pre-1999
2006-2010
2016-2017
542
347
37
13939 units as of 2017
Increase of
145% since 2005
Pre-1999
0
500
1,000
1,500
3,000
2,500
2,000
2000-2005
2006-2010
2011-2015
583
2802016-2017
380
209
1,454
2,906 units as of 2017
Increase of
100% since 2000
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Alexan Summit
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STATE OF DOWNTOWN FORT WORTH 201734
Business and leisure travelers agree, Downtown is the place to stay.Downtown Fort Worth hoteliers roll out the welcome mat and more hotels are on the way. As the hub
of Fort Worth’s visitor attractions, Downtown is home to 2,881 hotel rooms, 20.5% of the city’s
inventory. In 2017, 359 new rooms were added to the market and construction started on two more
properties that will add an additional 344 rooms. Plans are being drawn for an additional two hotels
totaling 408 rooms. The addition of the recently completed as well as planned and under construction
rooms will increase the Downtown inventory by 44.1%.
With 690,000+ room nights sold in 2017, the average hotel occupancy was 74.4% with
$123.24 revenue per available room (RevPAR).
Downtown paid 34.5%
of Fort Worth’s occupancy taxes in 2017
$116+ MILLION in Downtown hotel revenue in 2017
Hotels Planned (P) or Under Construction (UC)
HOTEL ROOMS
Aloft (UC) 180
Hilton Garden Inn (P) 162
AC Hotel (P) 246
Marriott Autograph (UC) 164
Total 752Source: Downtown Fort Worth, Inc.
Marriott Autograph Hotel, under development in historic Sinclair Building
35
Plano 7.0%
Richardson 3.1%
Arlington 8.2%
Irving 16.8%
Grapevine 6.4% Fort Worth without Downtown 12.9%
Dallas 42.5%
Downtown Fort Worth 3.2%
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Downtown Dallas
Downtown Fort Worth
USA
60 % 65 % 70 % 75% 80%
65.9%
74.4%
65.3 %
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Hotel Occupancy 2017
Plano 6.3%
Richardson 2.6%
Arlington 6.3%
Irving 15.2%
Grapevine 12.0% Fort Worth without Downtown 9.2%
Dallas 43.6%
Downtown Fort Worth 4.9%
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Area Hotel Revenue Share
Area Hotel Room Supply
STATE OF DOWNTOWN FORT WORTH 2017
Hilton Fort Worth Hotel
Fairfield Inn & Suites
Average 2017 Revenue Per Available Room
Arlington $21,287Dallas $28,612Downtown Fort Worth $42,630Fort Worth without Downtown $19,962Grapevine $52,458Irving $25,182Plano $25,390Richardson $23,017Source: Texas Comptroller of Public Accounts
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STATE OF DOWNTOWN FORT WORTH 201736
$94.19
$111.55
$74.04
$101.74
$115.49
$78.67
$110.00
$130.00
$120.00
$100.00
$90.00
$80.00
$70.00
$60.00
$50.00
$40.00
20152014 2016
$106.28
$114.23
$81.19
$109.18
$123.24
$83.57
2017
Dallas CBD Fort Worth CBD USA
Hotel Revenue Per Available Room
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4Q 13 1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 4Q 16
40.4%
42.2%
38.7%
39.6% 41.5%
40.5%
38.3%
39.3%
40.3%
30.0%
35.0%
40.0%
45.0%
50.0%
38.9% 37.8%
35.9%
37.3%
1Q 17 2Q 17 3Q 17 4Q 17
36.0% 35.0%
33.0% 34.1%
Percentage of City Hotel Occupancy Taxes Paid by Downtown Hotels
Source: Texas Comptroller of Public Accounts
Sharaton Fort Worth Hotel
IH 35W SB IH 3
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9TH
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DAGGETT
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WENNECA
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SUNS
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PEACH
BLUFF
1ST2ND
TAYLOR
THROCKMORTON
MAIN
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PECAN
ELMTERRY
CRUMP
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HARDINGSNICHOLS
JONES
PECAN
1ST
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6TH
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9TH
BELKNAP
MILLS
7TH
MON
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11TH
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5W N
B IH 30 EB
HENDERSON
3RD
5TH
13TH
WEATHERFORD
CONVENTION CENTER
SUNDANCE
SQUARE PLAZA
2
12
116 7
5
10
4
3
1
9
8
IH 35W SB IH 3
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12TH
LANCASTER
LUELLA
11TH
9TH
ELM
13TH
TEXAS
PRESIDIO
EL PASO
RIO GRANDE
DAGGETT
BROAD WAY
WENNECA
14TH
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SUNS
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PEACH
BLUFF
1ST2ND
TAYLOR
THROCKMORTON
MAIN
COMM
ERCECALHOUN
PECAN
ELMTERRY
CRUMP
SPUR 280
HARDINGSNICHOLS
JONES
PECAN
1ST
2ND
3RD
6TH
8TH
9TH
BELKNAP
MILLS
7TH
MON
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CONVENTION CENTER
SUNDANCE
SQUARE PLAZA
2
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116 7
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4
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9
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Current Hotel Room Inventory
HOTEL ROOMS
1. Omni Fort Worth Hotel 614
2. Worthington Renaissance 504 Hotel
3. Sheraton Fort Worth 430 Hotel
4. Hilton Fort Worth Hotel 294
5. Hampton Inn & Suites 245
6. Downtown Fort Worth 203 Courtyard-Blackstone Hotel
7. Embassy Suites Fort Worth 156 Hotel Downtown
8. Marriott TownePlace Suites 140 Fort Worth Downtown
9. Holiday Inn Express Hotel 132 & Suites Downtown Fort Worth
10. Fairfield Inn and Suites 114
11. The Ashton 39
12. Etta’s Place 10
Total 2,881
37STATE OF DOWNTOWN FORT WORTH 2017
54.1%
71.3%
61.1%
78.0%
81.9%
68.0% 67.4%
77.4%
67.8%
81.2%
78.6%
73.3%
73.8%
68.0%69.6%
77.8%
69.5%
80.2%
61.5%
75.1%
54.0%
54.4%
Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17
Downtown Fort Worth USA
69.6%
70.7%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
Seasonal Hotel Occupancy Rates
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STATE OF DOWNTOWN FORT WORTH 201738
Seasonal Revenue Per Available Room (RevPAR)
$105.46
Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17
Downtown Fort Worth USA
$119.79
$135.67
$137.96$132.33
$140.41
$126.26
$106.40
$133.94
$140.96
$122.16
$79.40
$0
$20
$40
$60
$80
$100
$120
$160
$140
$65.34
$75.45
$86.93 $85.12 $85.89
$94.67 $96.62$90.35 $89.48 $90.52
$75.50
$65.85
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Left: Aloft Hotel, Right Top: AC Hotel, Bottom Right: Hilton Garden Inn
752 rooms planned or under
construction.
39
2014 2015201320122011
Downtown Fort Worth USA
$50
$70
$90
$110
$130
$150
$170
$190
$101.80
$106.02
$109.98
$144.82
$146.82
$154.68
$115.14
$161.76
$120.30
$164.92
2016
$123.97
$162.19
2017
$126.72
$165.62
Fort Worth Convention Center Facts
Total arena 70,960 SFPermanent seats in the arena 10,418Temporary seats in the arena 3,266Total exhibit hall 182,266 SFTotal exhibit space 253,226 SFBallroom space 28,160 SFNumber of meeting rooms 41Hotel rooms within a 15-minute walk 2,230
Source: Visit Fort Worth
Largest Conventions 2017 by Hotel Rooms Reserved Downtown Fort WorthNAME ROOMS
RESERVEDSHOW ATTENDESS
2017 A-Kon 6,611 32,000Premier Designs, Inc. 6,451 9,0002017 National Conference on Race and Ethnicity in American Higher Education (NCORE)
6,394 1,800
2017 Air Medical Transport Conference
4,877 2,500
2017 Schedulers and Dispatchers Conference
4,777 3,500
2017 CS Week Conference 4,678 1,500Texas Emergency Medical Services 2017 Annual Conference
4,358 2,500
American Cheerleaders Association 2017 National Championships
4,317 14,000
Conference for the Advancement of Mathematics Teaching
4,271 7,000
Nations Best Sports 2017 Spring Semi-Annual Market
4,104 1,800
Source: Visit Fort Worth
Average Daily Hotel Room Rate (RevPAR)
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STATE OF DOWNTOWN FORT WORTH 2017
RevPAR in Downtown Fort Worth
was 40.6% higher than the
national average.
40
Ret
ail
4.2+ monthly visits to Downtown retailers and convenience stores
$109 average spent per retail visit11.4 average monthly visits to Downtown restaurants and bars
$1 1 average spending per restaurant visit
STATE OF DOWNTOWN FORT WORTH 2017
Downtown has it all – dining, drinks, dancing, shopping, theater and more.Downtown Fort Worth is well known for its dining
and entertainment experience. More than
70 restaurants can be found in the center city
while live theatre, shopping, movies and comedy add
to the urban mix. These diverse offerings and the
vibrant street life they foster make Downtown more
attractive to Fort Worth locals, regional day trippers,
out of town visitors and Downtown residents.
Downtown has a 97.1% retail occupancy rate
and soft goods retail is making gains. Several new
retailers and restaurants have opened in Downtown,
including 3rd Street Bar and Grill, Black Rooster,
Chophouse Burger, Earthbound Trading Company,
Francesca’s, Hooters, In the Sack, Istanbul Grill, Meso
Maya, Parts Unknown, Sons of Liberty Coffee, Verizon
Wireless, Waters, and Yours Truly.
Spending by Downtown residents in Downtown
$58 MILLION+ annual spending by residents in Downtown
Sundance Square Retail
41
As the 10th-largest economy in the world, with a GDP of $1.6 trillion, the Texas economy continues to fare better than those of many other states. For the 14th straight year, Texas has been ranked the top exporting state, according to data released by the U.S. Department of Commerce. The value of state exports in 2017 totaled more than $264 billion.
Texas’ top exporting industries in 2017 were petroleum and coal products, chemicals, computer and electronic products, non-electrical machinery and transportation equipment.
Downtown Fort Worth Private-Sector Employees, Businesses and Payroll
Total Downtown private-sector employees 36,437
Annual payroll $3,085,798,000Average payroll per employee $84,689Number of business establishments 1,570
Source: U.S. Census Bureau 2015
Texas Exports to Our Top Partners
Mexico $97.5 billionCanada $22.2 billionChina $16.3 billionBrazil $9.9 billionSouth Korea $9.8 billionSource: U.S. Census Bureau 2017
STATE OF DOWNTOWN FORT WORTH 2017
$89.8
$42.7
$18.3
$9.1 $7.3
$0
$10
$20
$30
$40
$50
$60
$70
$80
Mexico China Canada South Korea Saudi Arabia
Billions
$100
$90
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201
7
Top Import Partners for Texas Goods
95.6%
92.7% 93.3%
80%
85%
90%
95%
100% USADFWDowntown Fort Worth
4Q 2013
95.5%
93.3% 93.9%
4Q 2014
96.4%
94.1% 94.3%
4Q 2015
95.3% 95.2% 95.1%
4Q 2016
97.1%
95.3% 95.5%
4Q 2017
Downtown Retail Occupancy Rate
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Ret
ail
STATE OF DOWNTOWN FORT WORTH 2017
Downtown Fort Worth $29.27
Downtown Fort Worth 97.1%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
West Plano
West Frisco
Uptown Dallas
Southwest Fort Worth
Southlake
Richardson
Park Cities
Northwest Fort Worth
Northwest Dallas
North Arlington
Las Colinas
Far North Dallas
East Fort Worth
East Dallas
Dallas CBD
Addison
97.5%
91.9%
97.1%
93.5%
92.3%
93.8%
95.4%
96.1%
96.6%
95.4%
96.9%
95.8%
94.1%
97.1%
92.7%
92.3%
$5 $10 $15 $20 $25 $30 $35 $40
West Plano
West Frisco
Uptown Dallas
Southwest Fort Worth
Southlake
Richardson
Park Cities
Northwest Fort Worth
Northwest Dallas
North Arlington
Las Colinas
Far North Dallas
East Fort Worth
East Dallas
Dallas CBD
Addison
$23.54
$20.77
$39.66
$15.53
$21.00
$15.61
$30.79
$11.21
$17.18
$14.08
$22.50
$17.58
$8.65
$15.86
$19.86
$17.46
$45
Retail Occupancy Rates for Submarkets in the Dallas-Fort Worth Metropolitan Area Fourth Quarter 2017
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Downtown Fort Worth $29.27
Downtown Fort Worth 97.1%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
West Plano
West Frisco
Uptown Dallas
Southwest Fort Worth
Southlake
Richardson
Park Cities
Northwest Fort Worth
Northwest Dallas
North Arlington
Las Colinas
Far North Dallas
East Fort Worth
East Dallas
Dallas CBD
Addison
97.5%
91.9%
97.1%
93.5%
92.3%
93.8%
95.4%
96.1%
96.6%
95.4%
96.9%
95.8%
94.1%
97.1%
92.7%
92.3%
$5 $10 $15 $20 $25 $30 $35 $40
West Plano
West Frisco
Uptown Dallas
Southwest Fort Worth
Southlake
Richardson
Park Cities
Northwest Fort Worth
Northwest Dallas
North Arlington
Las Colinas
Far North Dallas
East Fort Worth
East Dallas
Dallas CBD
Addison
$23.54
$20.77
$39.66
$15.53
$21.00
$15.61
$30.79
$11.21
$17.18
$14.08
$22.50
$17.58
$8.65
$15.86
$19.86
$17.46
$45
Retail Rental Rates ($/SF) for Submarkets in the Dallas-Fort Worth Metropolitan Area Fourth Quarter 2017
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43STATE OF DOWNTOWN FORT WORTH 2017
Retail Occupancy Rates for Submarkets in the Dallas-Fort Worth Metropolitan Area
Fourth Quarter 2012
Sources: CoStar and Downtown Fort Worth, Inc.
$42.7
$48.3$46.9
$48.6 $52.4 $53.2 $54.1
$59.2
$25
$30
$35
$40
$45
$50
$55
$60
$65
2010 2011 2012 2013 2014
Millions
2015 2016 2017
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Downtown Adult Beverage Sales
STATE OF DOWNTOWN FORT WORTH 201744
Ret
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Household Income Downtown Fort Worth Trade Areas
HOUSEHOLD BY INCOME10 MINUTES DRIVE TIME 20 MINUTES DRIVE TIME
NUMBER OF HOUSEHOLDS
PERCENTAGE OF HOUSEHOLDS
NUMBER OF HOUSEHOLDS
PERCENTAGE OF HOUSEHOLDS
<$15,000 7,814 19.98% 44,425 12.86%$15,000 – $24,999 5,897 15.08% 39,961 11.57%$25,000 – $34,999 5,197 13.29% 40,632 11.76%$35,000 – $49,999 5,688 14.54% 50,604 14.65%$50,000 – $74,999 6,128 15.67% 64,675 18.72%$75,000 – $99,999 3,278 8.38% 41,508 12.02%$100,000 – $149,999 2,767 7.07% 38,521 11.15%$150,000 – $199,999 1,064 2.72% 12,801 3.71%$200,000+ 1,284 3.28% 12,336 3.57%Source: ESRI
Average Consumer Spending Downtown Fort Worth Trade Areas
CATEGORIES10 MINUTES DRIVE TIME 20 MINUTES DRIVE TIME
AVERAGE/HHS TOTAL SPENT AVERAGE/HHS TOTAL SPENT
Annual Budget Expenditures $49,071 $1,919,496,186 $58,121 $20,078,776,463Apparel and Services $1,540 $60,237,590 $1,799 $621,600,532Retail Goods $15,580 $609,439,439 $18,468 $6,379,874,096Entertainment and Recreation $2,112 $82,633,618 $2,526 $872,521,784Food at Home $3,851 $150,626,245 $4,470 $1,544,101,004Food Away From Home $2,375 $92,912,788 $2,782 $961,174,401Medical Services $725 $28,344,079 $880 $304,075,969Vehicle Purchases $2,659 $104,030,795 $2,926 $1,010,700,419Travel $1,256 $49,136,421 $18,468 $6,379,874,096Owner Dwelling Mortgage Payments $12,051 $222,993,834 $13,217.71 $2,448,764,986Renter Dwelling Rent $8,341 $171,914,809 $9,920.66 $1,589,299,546Consumer spending is the amount spent on a variety of goods and services by households that reside in the market area. HHS: Households Source: ESRI
Retail Sales Downtown Fort Worth Trade Areas
INDUSTRY GROUP NAICS 10 MINUTES DRIVE TIME 20 MINUTES DRIVE TIME
Food and Beverage Stores 445 $462,080,000 $3,212,541,000Clothing and Clothing Accessories Stores 448 $195,252,000 $952,950,000General Merchandise Stores 452 $276,892,000 $2,823,470,000Non-Store Retailers 454 $82,951,000 $407,783,000Food Services and Drinking Places 722 $475,134,000 $2,066,703,000Accommodation Sales 721 $173,849,000 $432,912,000Arts/Entertainment Recreation Sales 71 $168,221,000 $561,540,000Real Estate/Rent/Leasing Sales 53 $845,286,000 $3,016,898,000NAICS: The North American Industry Classification System (NAICS) is the standard used by federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing and publishing statistical data related to the U.S. business economy. Source: ESRI
45STATE OF DOWNTOWN FORT WORTH 2017
Drive Time Downtown Fort Worth
Drive Time 2016 – 2021 Downtown Fort Worth10 MINUTES DRIVE TIME 2016 2021
Population 109,527 126,395Households 39,117 44,821Average household size 2.80 2.82Owner-occupied housing units 35,596 38,568Renter-occupied housing units 32,269 33,269Median age 32.3 33.1Source: ESRI
10 MINUTES
drive time
20 MINUTES
drive time
Sundance Square Plaza
46
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Downtown Fort Worth is known for its outstanding quality of life. It is constantly recognized as a safe, clean and exciting place to live, work and play. By providing
a wide range of amenities, services and activities, our city center offers something for everyone.
From cosmopolitan cultural experiences, relaxing parks and special events to fun entertainment
options and action-packed outdoor opportunities, Downtown presents an excellent environment
for urban livability.
STATE OF DOWNTOWN FORT WORTH 2017
47STATE OF DOWNTOWN FORT WORTH 2017
DFWI's Main Table
Entertainment Home to the Main St. Fort Worth Arts Festival and XTO Parade of Lights
290,000+arts venue attendance
Parks/Recreation
385 acres of park land servicing Downtown
Access to 72 miles of riverfront trails for running, walking, cycling and horseback riding
Downtown’s Trinity Waterfront offers seasonal canoeing, kayaking, paddle boarding and fishing.
3,811 free night and weekend parking spaces
412,000+ items in circulation at the Central Library
6 childcare centers
48
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Created in 1986, Downtown Fort Worth Public Improvement District (PID) #1, administered by DFWI, offers a comprehensive program of services including research, marketing, Downtown planning assistance, sidewalk cleaning, street sweeping, security enhancement, litter removal and bird abatement. In November 2017 DFWI established a new Ambassador Program that provides hospitality services including directions, safety escorts and motorist assistance. Ambassadors are also trained to connect those in need to proper social services while providing support to Downtown safety providers (both public and private). From 1986 to 2009, PID services were renewed by petition every five years by an overwhelming majority of property owners. Because of the PID’s ongoing success, it was reestablished in 2009 for a 20-year period by the Fort Worth City Council, following the submission of petitions from property owners representing 83% of the property value and 80% of the land area in the district. PID #14 was established in June 2009. District contractors provide sidewalk maintenance, supplemental trash pickup and hospitality services along Samuels Avenue.
IH 35W SB IH 3
0 W
B
15TH
13TH
14TH
HOUSTON
12TH
LANCASTER
LUELLA
11TH
9TH
ELM
13TH
TEXAS
PRESIDIO
EL PASO
RIO GRANDE
DAGGETT
BROAD WAY
WENNECA
14TH
15TH
SUNS
ET
10TH
PEACH
BLUFF
1ST2ND
TAYLOR
THROCKMORTON
MAIN
COMM
ERCECALHOUN
PECAN
ELMTERRY
CRUMP
SPUR 280
HARDINGSNICHOLS
JONES
PECAN
1ST
2ND
3RD
6TH
8TH
9TH
5TH
BELKNAP
MILLS
7TH
CHESAPEAKE ENERGY
MON
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LAM
AR
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MAC
ON
LAKE
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BALL
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PENN
FOUR
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FORE
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11TH
IH35
WNB
IH30 EB
HENDERSON
7TH3RD
5TH
13TH
WEATHERFORD
BELKNAP
BLUFF
SAMUEL AVENUE
PID #1
PID #14
PID Districts
SUNDANCE
SQUARE PLAZA
$2,928,000 in services annually
7,488 miles of curb and gutters cleaned annually/144 miles weekly
1,249 trees serviced within PIDs (361 within the core)(does not include trees on private property or in the parks)
1,984 cubic yards (53,568 cubic feet) of dirt/debris removed from streets, curbs and gutters annually
15,660 linear miles of sidewalks cleaned annually
218 Downtown trees lighted (30 new trees along Samuels Avenue and six along Houston Street)
17 full-time clean-team members
13 Ambassadors
27 dump trucks of recyclable material collected each year
13,500 square feet of planters in bloom year round
75,000 plants planted annually
STATE OF DOWNTOWN FORT WORTH 2017
49STATE OF DOWNTOWN FORT WORTH 2017
Tax Increment Financing District #3
A significant partnership that adds to the success of Downtown is the Downtown Tax Increment Finance District (TIF) and the other Downtown-oriented TIFs. The Downtown TIF makes strategic investments in parking, infrastructure, historic preservation and residential development. The TIF is a collaboration of the City of Fort Worth, Tarrant County, Tarrant County Hospital District, Tarrant County College District and Tarrant Regional Water District.
To date, the TIF has obligated over $96 million, leveraging $761 MILLION in private development and facilitating $51.6 million in public investment. In Tax Year 2016 the TIF generated $15.7 million of tax increment to the taxing district partners. The TIF is capped in revenues at $5 million per year; the remainder of the tax increment, $10.7 million, was returned to the taxing jurisdictions.
DFWI manages the Downtown TIF through a contract with the TIF Board of Directors.
IH 35W SB IH 3
0 W
B
15TH
13TH
14TH
HOUSTON
12TH
LANCASTER
VICKERY
JARVIS
ADAM
S
ALAB
AMA
COLL
EGE
LIPS
COM
B
HEM
PHIL
L
LUELLA
11TH
9TH
ELM
13TH
TEXAS
PRESIDIO
EL PASO
RIO GRANDE
DAGGETT
BROAD WAY
WENNECA
14TH
15TH
SUNS
ET
10TH
PEACH
BLUFF
1ST2ND
TAYLORTHROCKM
ORTONM
AINCOM
MERCE
CALHOUN
PECAN
ELMTERRY
CRUMP
SPUR 280
HARDINGSNICHOLS
JONES
PECAN
1ST
2ND
3RD
4TH
6TH
8TH
9TH
BELKNAP
MILLS
7TH
PIER 1
MON
ROE
LAM
AR
CHER
RY
MAC
ON
LAKE
COLL
IER
BALL
INGE
R
SUM
MIT
PENN
FOUR
NIER
FORE
ST P
ARK
11TH
IH33
WNB
IH30 EB
HENDERSON
3RD
5TH
13TH
WEATHERFORD
8TH
TIF: 3 Downtown
TIF: 4 Southside/Medical District
TIF: 6 Riverfront
TIF: 8 Lancaster
TIF: 9 Trinity River Vision
SUNDANCE
SQUARE PLAZA
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Ashton Hotel
Crescent Garage/ Bass Hall
Chase Building
Family Law Center
The Tower
Pecan Place UTA
Two City Place
Trinity Bluff
Carnegie Building
Marriott TownePlace
Oliver’s
City PlaceGarage/Retail
Westbrook, Commerce Buildings
City’s TIF Contribution TIF Costs Investments Tax Increment
$1,094.45
$611.25
$58.94
$28.46
CassidyBuilding
Hunter Plaza
$322
$1,061
$0
$200
$400
$600
$1,000
$800
$1,200
Before TIF Value
CurrentTIF Value
Millions
Taxable Value of TIF$1,000
$1,100
$1,200
Millions
Sour
ce: D
ownt
own
Fort
Wor
th, I
nc. a
nd T
arra
nt C
ount
y A
pp
rais
al D
istr
ict
Downtown TIF Costs, Investments and Tax Increment
STATE OF DOWNTOWN FORT WORTH 201750
Ed
uca
tion
9,358 higher education students Downtown in 2017
• potential customers
• future workforce
• potential residents
Downtown higher education enrollment has grown by 1,246% in 15 years
2003 695
2017 9,358
881 K-12 students Downtown in 2017
Top: Tarrant County College River Campus, Bottom Left: STEM and VPA School Construction, Bottom Right: Nash Elementary School Mural
Education is a key part of Downtown’s appeal to residents and companies. Texas A&M School of Law, UTA Fort Worth and Tarrant County College have a growing presence
in Downtown, creating workforce education opportunities. Downtown’s elementary and high
school offerings are top performers. Fort Worth ISD’s new flagship Science Technology
Engineering and Math (STEM) and Visual Performing Arts (VPA) programs will open in their
Downtown campus in 2018.
Higher Education Fall Semester Enrollment Downtown Fort Worth
770 702
581
1,138
918848
1,000
0
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
2013 2014
0
100
200
300
400
500
600
700
800
900
1,000
2013 2014 2015
439
2016
412
2017
0
1,800
1,600
1,400
1,200
1,000
800
600
400
200
2013 2014
9,557 10,712 10,757
0
4,000
2,000
6,000
8,000
10,000
12,000
2011 2012 2013 2014 2016 2015
8,849
2015
8,774
7,800
2016
7,952
2017
7,704
2015
1,242
2017
772
2016
9,229 9,163
2017
9,35810,394
Number of Students Enrolled in Higher Education Campuses in Downtown
51STATE OF DOWNTOWN FORT WORTH 2017
Tarrant County College
Texas A&M School of Law
UTA Fort Worth
Source: Downtown Fort Worth, Inc., Survey of Downtown Education Institutions
Source: University of Texas at Arlington
Source: Texas A&M School of Law
Source: Tarrant County College
Educational Institutions Downtown Fort Worth
FALL 2017 ENROLLMENT
Montessori at Sundance Square 134St. Paul Lutheran School 215Young Women’s Leadership Academy 385Nash Elementary School 281Texas A&M School of Law 412UTA Fort Worth 1,242Tarrant County College, Trinity River Campus 7,704Source: Downtown Fort Worth, Inc., Survey of Downtown Education Institutions
Nash Elementary
Texas A&M School of Law ranked in Top 100 - U.S. News andWorld's Report list of
the nation’s top 100 law schools
Tra
nsp
orta
tion
52
Downtown Fort Worth is Fort Worth’s transit hub, offering excellent access to various transportation options throughout the community and the Dallas-Fort Worth area. The Intermodal Transportation Center is the central gathering point for the Trinity Metro, Trinity
Railway Express (TRE), TEXRail, Amtrak, Greyhound Bus Line, taxis and the Molly the Trolley
shuttle service. Currently, 28 bus routes connect all parts of Fort Worth to Downtown.
Downtown is also home to 19 Bike Share stations. In 2017, there were over 58,000 trips on the Bike
Share system. Riders use the bike to go from one place to another within Downtown and travel to
other Bike Share stations throughout the system.
Downtown visitors enjoy 3,811 free parking spaces available after 6 p.m. on weekdays and
all-day on weekends, courtesy of the Downtown Tax Increment Finance District. There are nearly
42,000 Downtown parking spaces.
To inform the public about the many parking options Downtown, a newly designed Fort Worth
parking website, Fortworthparking.com, allows users to quickly find the nearest parking options.
STATE OF DOWNTOWN FORT WORTH 2017
53
51.2% increase in bus ridership since 2008 (10 years)
400,836 Downtown riders on Trinity Railway Express (2017)
833,871 Molly the Trolley riders since inception (May 2009)
45 Bike Share stations 19 in Downtown in 2017
Highways serving Downtown:
• I-35• I-30• Hwy 121• Hwy 287• Chisholm Trail Parkway
586,000+ Average daily traffic count on Downtown highways
Dallas-Fort Worth International Airport
• 17 miles from Downtown• 67+ MILLION passengers
in 2017• 223 destinations• 27 carriers
Every major city in the continental United States can be accessed within four hours
Approximately
183,000+ passengers daily
Meacham International Airport, Texas' premier general aviation facility, is located just 5 miles from Downtown.
fourhours
STATE OF DOWNTOWN FORT WORTH 2017
TEXRail Commuter Rail Line Opening 2018
Tra
nsp
orta
tion
STATE OF DOWNTOWN FORT WORTH 201754
OPENING
2018TexRail Commuter
Rail System
Trinity Railway Express Ridership Fiscal Years 2008 – 2017
3.03 3.02
3.49
4.68
2.14
0.0
0.5
1.0
1.5
2.0
2.5
3.0
20122011201020092008 2013
2.29
2014
2.16
2015
2.05
2016
2.11
2017
2.7 2.65
2.5 2.4 2.3
Millions
Thousands
350
400
450
300
500
550
600
2011201020092008 2012
491 498
532
571 596
2013
531
2014
537
2015
515
2016
586
Millions
2.00
2.50
3.00
3.50
4.00
4.50
5.50
5.00
20122011201020092008 2013144,000
137,000
143,000
141,000
175,000
168,000
163,000
177,000
102,000
106,000
112,000
106,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
2013
140,000175,000
106,00065,297
2014
147,000175,000
106,00059,000
2015
147,000197,000
76,00059,000
SH 287 SH 121 I-35W I-30
4.49
2014 2015
4.81
4.57
2016
5.05
2017
4.58
3.09
Sour
ce: T
rini
ty M
etro
y
The Trinity Railway Express links Downtown Fort Worth’s T&P and ITC Stations to CenterPort/DFW Airport Station and Downtown Dallas Union Station, Monday through Saturday. The airport’s free Remote South shuttle bus service provides continuous connections between the station and airline terminals.
55STATE OF DOWNTOWN FORT WORTH 2017
3.03 3.02
3.49
4.68
2.14
0.0
0.5
1.0
1.5
2.0
2.5
3.0
20122011201020092008 2013
2.29
2014
2.16
2015
2.05
2016
2.11
2017
2.7 2.65
2.5 2.4 2.3
Millions
Thousands
350
400
450
300
500
550
600
2011201020092008 2012
491 498
532
571 596
2013
531
2014
537
2015
515
2016
586
Millions
2.00
2.50
3.00
3.50
4.00
4.50
5.50
5.00
20122011201020092008 2013144,000
137,000
143,000
141,000
175,000
168,000
163,000
177,000
102,000
106,000
112,000
106,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
2013
140,000175,000
106,00065,297
2014
147,000175,000
106,00059,000
2015
147,000197,000
76,00059,000
SH 287 SH 121 I-35W I-30
4.49
2014 2015
4.81
4.57
2016
5.05
2017
4.58
3.09
3.03 3.02
3.49
4.68
2.14
0.0
0.5
1.0
1.5
2.0
2.5
3.0
20122011201020092008 2013
2.29
2014
2.16
2015
2.05
2016
2.11
2017
2.7 2.65
2.5 2.4 2.3
Millions
Thousands
350
400
450
300
500
550
600
2011201020092008 2012
491 498
532
571 596
2013
531
2014
537
2015
515
2016
586
Millions
2.00
2.50
3.00
3.50
4.00
4.50
5.50
5.00
20122011201020092008 2013144,000
137,000
143,000
141,000
175,000
168,000
163,000
177,000
102,000
106,000
112,000
106,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
2013
140,000175,000
106,00065,297
2014
147,000175,000
106,00059,000
2015
147,000197,000
76,00059,000
SH 287 SH 121 I-35W I-30
4.49
2014 2015
4.81
4.57
2016
5.05
2017
4.58
3.09
20,000
40,000
60,000
0
100,000
80,000
120,000
140,000
2013201220112010 2014
58,611
72,600
84,83388,958
92,746
2015
91,157
2016
124,848
2017
105,470
Annual Ridership for Bus Routes Serving Downtown Fort Worth 2008 – 2017
Average Daily Traffic Count on Selected State and National Highways Serving Downtown Fort Worth
Annual Ridership for Molly the Trolley Serving Downtown Fort Worth 2010 – 2017
Sour
ce: T
rini
ty M
etro
Sour
ce: T
exas
Dep
artm
ent o
f Tra
nspo
rtat
ion
Sour
ce: T
rini
ty M
etro
Fare
Ch
an
ged
Tra
nsp
orta
tion
56 STATE OF DOWNTOWN FORT WORTH 2017
ZIP
code
s 75
201
and
7520
2 ar
e us
ed fo
r dow
ntow
n D
alla
s.
ZIP
code
787
01 is
use
d fo
r dow
ntow
n Au
stin
. So
urce
: U.S
. Cen
sus
Bure
au.
Means of Transportation to Work: Public Transportation
15.0%
20.0%
25.0%
21.1%
59.7%
92.9%
0.9%
9.5%
4.0%
79.8%
1.5%
10.0%
5.0%
0.0%
6.0%
4.0%
2.0%
0.0%
100.0%
80.0%
60.0%
40.0%Downtown
Austin*DowntownFort Worth
Fort Worth
DowntownFort Worth
Fort Worth
DowntownAustin*
DowntownFort Worth
Fort Worth
13.3%
DowntownDallas*
2.4%
DowntownAustin*
4.5%
DowntownDallas*
72.6%
DowntownDallas*
ZIP
code
s 75
201
and
7520
2 ar
e us
ed fo
r dow
ntow
n D
alla
s.
ZIP
code
787
01 is
use
d fo
r dow
ntow
n Au
stin
. So
urce
: U.S
. Cen
sus
Bure
au.
Means of Transportation to Work: Walk or Bike
15.0%
20.0%
25.0%
21.1%
59.7%
92.9%
0.9%
9.5%
4.0%
79.8%
1.5%
10.0%
5.0%
0.0%
6.0%
4.0%
2.0%
0.0%
100.0%
80.0%
60.0%
40.0%Downtown
Austin*DowntownFort Worth
Fort Worth
DowntownFort Worth
Fort Worth
DowntownAustin*
DowntownFort Worth
Fort Worth
13.3%
DowntownDallas*
2.4%
DowntownAustin*
4.5%
DowntownDallas*
72.6%
DowntownDallas*
15.0%
20.0%
25.0%
21.1%
59.7%
92.9%
0.9%
9.5%
4.0%
79.8%
1.5%
10.0%
5.0%
0.0%
6.0%
4.0%
2.0%
0.0%
100.0%
80.0%
60.0%
40.0%Downtown
Austin*DowntownFort Worth
Fort Worth
DowntownFort Worth
Fort Worth
DowntownAustin*
DowntownFort Worth
Fort Worth
13.3%
DowntownDallas*
2.4%
DowntownAustin*
4.5%
DowntownDallas*
72.6%
DowntownDallas*
Means of Transportation to Work: Car, Truck or Van
ZIP
code
s 75
201
and
7520
2 ar
e us
ed fo
r dow
ntow
n D
alla
s.
ZIP
code
787
01 is
use
d fo
r dow
ntow
n Au
stin
. So
urce
: U.S
. Cen
sus
Bure
au.
Additional categories of Means of Transportation are tracked by the U.S. Census Bureau but are not graphed in this publication.
57STATE OF DOWNTOWN FORT WORTH 2017
3.03 3.02
3.49
4.68
2.14
0.0
0.5
1.0
1.5
2.0
2.5
3.0
20122011201020092008 2013
2.29
2014
2.16
2015
2.05
2016
2.11
2017
2.7 2.65
2.5 2.4 2.3
Millions
Thousands
350
400
450
300
500
550
600
2011201020092008 2012
491 498
532
571 596
2013
531
2014
537
2015
515
2016
586
Millions
2.00
2.50
3.00
3.50
4.00
4.50
5.50
5.00
20122011201020092008 2013144,000
137,000
143,000
141,000
175,000
168,000
163,000
177,000
102,000
106,000
112,000
106,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
2013
140,000175,000
106,00065,297
2014
147,000175,000
106,00059,000
2015
147,000197,000
76,00059,000
SH 287 SH 121 I-35W I-30
4.49
2014 2015
4.81
4.57
2016
5.05
2017
4.58
3.09
Average Daily Traffic Count Selected State and Federal Highways Serving Downtown Fort Worth
Sour
ce: T
exas
Dep
artm
ent o
f Tra
nspo
rtat
ion
Downtown Parking Availability
Parking spaces 41,866
Total metered spaces 1,967
Free evening and weekend parking spaces
3,811
Free daytime 1-hour parking spaces 300
Free daytime 2 1/2-hour spaces with validation
164
Source: Downtown Fort Worth, Inc.
Construction began in 2013 on a $1.6 billion project to rebuild 10 miles of I-35W from north of I-30 to North Tarrant Parkway to double the existing capacity by adding four toll- managed lanes, auxiliary lanes and some frontage roads.
All counts were taken within a radius of 2 miles from the intersection of I-30 and I-35W, SH 121 and SH 287 in Downtown Fort Worth.
STATE OF DOWNTOWN FORT WORTH 201758
Melissa Graham Chair 777 Main
Larry Auth Omni Fort Worth Hotel
Rita Aves Oil & Gas Building
Johnny Campbell Sundance Square
Gary Cumbie The Cumbie Consultancy
Ryan Delaney Hines Interests, L.P.
Jim Finley Finley Resources Inc.
Dave Fulton Hilton Fort Worth Hotel
Taylor Gandy Ron Investments, Ltd
Suzan Greene ONCOR Electric Delivery
Marie Holliday, DMD Flowers to Go in Sundance Square
Chris Jeans XTO Energy
Walter Littlejohn The Fort Worth Club
Michelle Lynn Building Owners & Managers Association
Renee Massey Red Oak Realty
Robbie Tawil The Worthington Renaissance Fort Worth Hotel
Karen Vaughan StarPoint Commercial Properties, LLC
Joy Webster MorningStar Capital
Jed Wegenknecht Downtown Fort Worth Blackstone Courtyard
John Yeung Sheraton Fort Worth Hotel
PID Ambassadors and Clean Team
PID
Ad
viso
ry B
oard
59STATE OF DOWNTOWN FORT WORTH 2017
Cre
dit
s
Downtown Fort Worth, Inc. Publications
Annual Report In View Residential Survey Report State of Downtown
Information Sources
City of Fort Worth CoStar Downtown Fort Worth, Inc. ESRI Federal Housing Finance Agency Nash Elementary School National Association of Realtors North Texas Real Estate Information System, Inc. Office of Governor, Economic Development and Tourism Smith Travel Research St. Paul’s Lutheran School Tarrant County Appraisal District Tarrant County Clerk Tarrant County College Texas A&M Real Estate Center Texas A&M School of Law Texas Comptroller of Public Accounts Texas Department of Transportation Texas Workforce Commission
The North Central Texas Council of Governments Trinity Metro U.S. Bureau of Economic Analysis U.S. Bureau of Labor Statistics U.S. Census Bureau U.S. Department of Commerce University of Texas at Arlington Visit Fort Worth Young Women’s Leadership Academy
Downtown Fort Worth, Inc. Staff
Andrew Taft President
Matt Beard Director of Public Improvements
Nicole Browne Marketing and Special Projects Manager
Cleshia Butler Administrative Assistant
Jay Downie Event Producer
Brandi Ervin Controller
Becky Fetty Director of Membership and Marketing
Melissa Konur Director of Planning
Arrie Mitchell Director of Research
Barbara Sprabary Executive Assistant/ Office Manager
CreditsDowntown Fort Worth, Inc., is especially grateful to the following organizations and individuals for their assistance in producing the State of Downtown publication:
Hannah Behrens Briggs Freeman Sotherby’s International Realty
Mary Margaret Davis Real Estate Broker Mary Margaret Davis Real Estate Team
Mary McCoy Administration Tarrant County Appraisal District
David Tidwell Planning and Development Department City of Fort Worth
Andrea Timbes CRM Analyst Visit Fort Worth
Ebonie Wingo Performance and Regulatory Standards Trinity Metro
Special thanks to Rachel Delira, Joseph Haubert, Brian Luenser, Sundance Square, Trinity Metro and Visit Fort Worth for their photography.
A service of Downtown Fort Worth, Inc.
DOWNTOWN FORT WORTHCURRENT & PLANNED PROJECTS
DOWNTOWN FORT WORTHCURRENT & PLANNED PROJECTS
PMS 286
Published in May 2018
Downtown Fort Worth, Inc. 777 Taylor Street, Suite 100
Fort Worth, Texas 76102
817.870.1692 | www.dfwi.org
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