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Transcript of State of Downtown 2014
STATE of DOWNTOWN
2014
ForewordWelcome to our tenth edition of the State of Downtown report. This publication is produced by Downtown Fort Worth, Inc. (DFWI) and Fort Worth Improvement District #1 (PID) to communicate the underlying economic trends shaping our center city.
Downtown Fort Worth continued its outstanding momentum in 2014. Office rental and occupancy rates compare favorably with other North Texas submarkets, while hospitality measures were among the strongest in the country. Retail remained strong, and residential sales and leasing activity saw dramatic acceleration.
The State of Downtown is your window into the economic forces shaping our center city. The data presented in the State of Downtown is compiled throughout the year by DFWI’s Director of Research. In addition, quarterly and monthly updates for certain market segments are available upon request and at www.dfwi.org.
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 District #1, thank you for your interest in Downtown.
Table of ContentsYear in Review .................................................. 2
Office and Employment ...................................10
Population and Housing ...................................18
Hospitality ........................................................34
Retail ................................................................40
Quality of Life ..................................................48
Education .........................................................52
Transportation .................................................54
PID Advisory Board ..........................................60
Arrie Mitchell Director of Research
Jack Clark Chairman
Fort Worth Improvement District #1 (PID)
Johnny Campbell Chairman of the Board Downtown Fort Worth, Inc.
Cover Photo: Pinnacle Bank Place, Opening 2016
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, public space management and advocacy organization. This membership-based organization has contributed to 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 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, including streets and sidewalks.
DFWI also administers the 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.
DFWII, Downtown Fort Worth Initiatives, Inc. 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.
1STATE OF DOWNTOWN FORT WORTH 2014
Yea
r in
Rev
iew
STATE OF DOWNTOWN FORT WORTH 2014
1,206 acres
1.8 square miles
1,523 Downtown businesses
38,044 private employees
10 MILLION square feet of office space
2,642 hotel rooms
6,228 Downtown residents
3,452 residential units
46,892 Downtown employees (all jobs)
$74,906 average private payroll per employee
$2.9 BILLION private payroll in 2012
At $2,993,415,000, Downtown generates a larger payroll (9.3%) than any other employment center in the county, contributing 18.7 times its geographic weight in private payroll.
$3.2 BILLION in gross sales from all Downtown industries in 2013
$63.3 Billion appraised value of property in the City of Fort Worth in 2014
$166.6 Billion appraised value of property in Tarrant County in 2014
$15,864,783 hotel taxes paid in Downtown 2014
$114,929,846 sales taxes paid in 2013 – 14.2% of the city’s taxable sales are transacted in Downtown
Downtown contributes 11.2 times its geographic weight in sales tax.
$206,302,880 Downtown property, hotel and sales taxes paid in 2013
$1,717,357,279 total taxes paid Downtown 1992-2013
DOWNTOWN BY THE NUMBERS
Downtown Fort Worth is a 1.875-square-mile, high performing North Texas submarket. With over 46,000 employees, Downtown Fort Worth is the largest employment center in Tarrant County. Private payroll generated in Downtown exceeds $2.9 billion per year, the highest among employment centers in the county.
The labor force in Fort Worth grew by 25.3% from December 2007 (pre-recession) to December 2014. This is 17.6 times faster than the national labor force, which grew at 1.4%. Fort Worth grew 1.7 times faster than Texas at 14.6%. Over this same period Fort Worth added 61,314 jobs, increasing its employment force by 19.4%. During the same period Texas increased its employment force by 14.3%, while the national employment force has increased by 0.8%.
Change in Unemployment
U.S. Unemployment
December rate 5.6%Dec. 2012 – Dec. 2013 change -1.1Texas Unemployment
December rate 4.6%Dec. 2012 – Dec. 2013 change -1.4Fort Worth Unemployment
December rate 3.9%Dec. 2012 – Dec. 2013 change -1.5
Sources: City of Fort Worth, Tarrant County, U.S. Census Bureau, State of Texas
2
The Fort Worth-Arlington metro area’s annual employment growth rate from December 2013 to December 2014 was 3.7%, compared to 1.9% for the nation. The unemployment rate for the City of Fort Worth was 3.9% in December 2014, significantly lower than the national rate of 5.6%.
In addition to a healthy labor market, Downtown Fort Worth’s economy performed exceptionally well in 2014, outperforming the local and national economy in many segments of the office, residential, hospitality and retail markets. The Dallas-Fort Worth-Arlington metropolitan area’s population grew from 5,161,544 in 2000 to 6,812,373 in 2013. 15.7% of this regional growth is attributed to Fort Worth.
Trini
ty Rive
r
3STATE OF DOWNTOWN FORT WORTH 2014
Contribution of Fort Worth to Regional Growth
Population: From 2000 to 2013, 31.4% of regional population growth (for cities with more than 100,000) occurred in Fort Worth. Dallas contributed 8.4%.Source: U.S. Census Bureau
Arlington 5.6% Carrollton 2.1%
Denton 5.1% Dallas 8.4%
Frisco 12.5%
Garland 2.3%
Grand Prairie 6.8%
Irving 4.5%
McKinney 11.4%
Mesquite 2.3%
Plano 6.2%
Richardson 1.5%
Fort Wort
h 3
1.4
%
Job Growth from December 2007 to December 2014
27,776
61,314
0
40,000
20,000
60,000
80,000
Dallas Fort Worth
Employment: Employment in Fort Worth grew by 19.4% from pre-recession December 2007 to December 2014. In Dallas it grew by 4.7%.Source: Texas Workforce Commission
Yea
r in
Rev
iew
STATE OF DOWNTOWN FORT WORTH 20144
Office: The office market in Downtown Fort Worth absorbed over 267,000 square feet of office space in 2014, while occupancy remained on par with the national average. Occupancy for class A office space in Downtown Fort Worth in 4Q 2014 was 82%, slightly less than the national average occupancy of 87.7%. Currently, 86.5% of all Downtown Fort Worth office space is occupied. A large percentage of the space in the multi-tenant office market is occupied by tenants of less than 4,000 square feet. This has a stabilizing influence on the market. In 2014, more than 59% of the leasing activity occurred with firms of that size.
Leasing Activities, Share of Market SPACE (SF) 2013 2014
<4,000 74% 59%
4,001 – 10,000 17% 24%>10,001 9% 17%Source: CoStar
Sour
ce: C
oSta
r
5.4%
5.8%
6.6%
5.4%
5.8%
6.7%
5.2%
5.5%
6.6%
4.6%
5.0%
6.2%
4.9%
5.3%
6.3%
5.3%
5.5%
6.1%
5.4%
5.6%
6.2%
5.2%
5.5%
6.1%
4.7%
5.0%
5.9%
4.4%
4.7%
5.7%
4.3%
4.6%
5.8%
3.9%
4.2%
5.6%
3.0%
4.0%
3.5%
4.5%
5.5%
5.0%
6.0%
6.5%
7.0%
Jan-1
4
Feb-1
4
Mar-14
Apr-14
May-14
Jun-1
4
Jul-1
4
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Dallas USA Fort Worth
Sour
ce: T
exas
Wor
kfor
ce C
omm
issi
on
Unemployment Rate in 2014
All Office Space Occupancy
4Q 2014Class A Office Space Occupancy
4Q 2014Retail Space Occupancy
4Q 2014
89.1% 86.4%
50%
60%
70%
80%
90%
100%
USA Fort Worth Fort Worth Fort Worth
87.7%
82.0%
USA
93.9% 92.7%
USA
5STATE OF DOWNTOWN FORT WORTH 2014
3.1%
4.6% 4.3%
6.4%
3.8% 4.2%
11.9%
3.9% 4.1%
5.7%
6.6%
8.3% 8.6%
6.5% 6.2%
4.0% 5.2% 5.1%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
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
5.6%
3.9%
Unemployment Rate Among 20 Largest U.S. Cities November 2014
Employment Growth December 2014 Over December 2013
3.6%
2.7%
1.9%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
Dallas Fort Worth USA
Sour
ce: T
exas
Wor
kfor
ce C
omm
issi
onSo
urce
: U.S
. Bur
eau
of L
abor
Sta
tistic
s
Burnett Plaza
Yea
r in
Rev
iew
STATE OF DOWNTOWN FORT WORTH 20146
Residential: Development remained strong in Downtown, with an additional 384 units set to begin construction or under construction by December of 2014. The first owner-occupied new product in four years broke ground on Henderson Street. Hunter Plaza will bring a total of 164 rental units to Downtown, including 115 affordable units and 49 market rate units. Trinity Terrace has broken ground on a 79-unit, 21-story senior housing tower. Pinnacle Bank Place, in the Lancaster corridor, broke ground in early 2015, adding a 130-unit mixed-use community to Downtown. The addition of those 373 apartments will bring the total rental inventory to 2,899 units.
The multifamily average rent in Downtown increased 2.7% in 2014 to $1,688, and apartment occupancy averaged 95.6% in 2014.
Demand for condominiums and townhomes saw a marked increase in 2014. 100 owner-occupied units sold in 2014, three shy of the 2006 record of 103. Through the fourth quarter of 2014, the median price for a Downtown residential unit sold through the MLS system was $220,000, an increase of 15.8% over the 2013 median price of $190,000.
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
Sour
ce: D
ownt
own
Fort
Wor
th
$196,000
$327,873
$219,900
$277,626
$212,450$190,000
$234,226
$252,789
$220,000
$0
$150,000
$100,000
$50,000
$200,000
$250,000
$300,000
$350,000
2010 2011 2012 2013 2014
$308,330
AverageMedian
$1,561
$1,531
$1,573
$1,637
$1,662 $1,688
95.4%
94.8%
94.5%
95.3% 95.6%
93.6%
$1,700
$1,650
$1,600
$1,550
$1,500
$1,450
98.0%
97.0%
96.0%
95.0%
94.0%
93.0%
92.0%
91.0%
90.0%2009 2010 2011 2012 2013 2014
Average Rental Rates Average Occupancy
7STATE OF DOWNTOWN FORT WORTH 2014
Hotels in Downtown Fort Worth generate 39% of all annual
hotel occupancy taxes in the city.
1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14
40.9%
38.8%
38.4% 41.1%
44.8%
40.8%
39.0%
37.6%
43.7%
39.8%
41.3%
40.8%
42.3%
39.2% 39.2% 40.4%
42.2%
38.7% 39.6% 40.3%
15.0%
25.0%
20.0%
30.0%
35.0%
40.0%
45.0%
50.0%
22.3%
21.4%
21.0% 22.3% 22.3%
22.0%
20.9%
20.6%
24.4%
21.0%
21.8% 20.4% 20.9%
19.9%
22.8%
19.5% 20.2% 19.7% 21.9%
19.0%
Hotel InventoryHotel Occupancy Taxes Paid
Hotel Occupancy Taxes Paid and Inventory Downtown’s Share as Percentage of City
Sour
ce: T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14
$4,500
$4,000
$2,809 $2,832
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
Thousands
$3,674
$3,259 $3,272
$2,803
$3,581
$2,801
$3,758
$2,841
$3,391 $3,574
$3,757 $3,659
$3,330 $3,540 $3,606
$4,049 $3,817
$4,242
Sour
ce: T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
Hotel Occupancy Taxes Paid Downtown Fort Worth
Hospitality: The Downtown hotel market continued to perform well above national averages and other large markets in the Dallas-Fort Worth metropolitan area. The occupancy rate in 2014 was 69.0%, higher than the national average of 64.4%. Revenue per available room (RevPAR) was $114.54, significantly above the national average of $74.28.
Hotel occupancy taxes paid in Downtown set an all-time record of $4,241,858 in 1Q 2014.
Downtown’s share as percentage of the city’s hotel occupancy taxes grew from 25.7% at the beginning of the recession to 37% at the end, a 44% increase in 6 quarters. While 20% of all hotel rooms are located Downtown, more than 39% of all hotel occupancy taxes were paid in Downtown.
Hilton Fort Worth Hotel
Yea
r in
Rev
iew
STATE OF DOWNTOWN FORT WORTH 20148
Retail: The Downtown retail market continues to perform well. The first two quarters of 2014 have maintained the peak sales levels reached in 2013. The strongest sectors were Accommodation and Food Services, Clothing Stores, Limited Service Eating Places, and Food and Beverage Stores.
Retail occupancy maintained a robust rate of 93%. The average rent per square foot for retail space in Downtown was $18.90. In addition, Downtown added 17,000 square feet of retail space in the new Cassidy Building in Sundance Square.
Change in Gross Sales 2Q 2014 over 2013
3.2%
78.4%
0%
40%
20%
60%
80%
100%
USA Downtown Fort Worth
1.9%
13.7%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
1.0%
7.3%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
5.4%
11.8%
0.0%
5.0%
10.0%
15.0%
USA Downtown Fort Worth
5.2%
20.9%
0.0%
10.0%
20.0%
30.0%
USA Downtown Fort Worth
5.5%
15.2%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
Limited-Service Eating Places
3.2%
78.4%
0%
40%
20%
60%
80%
100%
USA Downtown Fort Worth
1.9%
13.7%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
1.0%
7.3%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
5.4%
11.8%
0.0%
5.0%
10.0%
15.0%
USA Downtown Fort Worth
5.2%
20.9%
0.0%
10.0%
20.0%
30.0%
USA Downtown Fort Worth
5.5%
15.2%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
Arts, Entertainment and Recreation
3.2%
78.4%
0%
40%
20%
60%
80%
100%
USA Downtown Fort Worth
1.9%
13.7%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
1.0%
7.3%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
5.4%
11.8%
0.0%
5.0%
10.0%
15.0%
USA Downtown Fort Worth
5.2%
20.9%
0.0%
10.0%
20.0%
30.0%
USA Downtown Fort Worth
5.5%
15.2%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
3.2%
78.4%
0%
40%
20%
60%
80%
100%
USA Downtown Fort Worth
1.9%
13.7%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
1.0%
7.3%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
5.4%
11.8%
0.0%
5.0%
10.0%
15.0%
USA Downtown Fort Worth
5.2%
20.9%
0.0%
10.0%
20.0%
30.0%
USA Downtown Fort Worth
5.5%
15.2%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
Retail Trade
Clothing Stores
3.2%
78.4%
0%
40%
20%
60%
80%
100%
USA Downtown Fort Worth
1.9%
13.7%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
1.0%
7.3%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
5.4%
11.8%
0.0%
5.0%
10.0%
15.0%
USA Downtown Fort Worth
5.2%
20.9%
0.0%
10.0%
20.0%
30.0%
USA Downtown Fort Worth
5.5%
15.2%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
3.2%
78.4%
0%
40%
20%
60%
80%
100%
USA Downtown Fort Worth
1.9%
13.7%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
1.0%
7.3%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
5.4%
11.8%
0.0%
5.0%
10.0%
15.0%
USA Downtown Fort Worth
5.2%
20.9%
0.0%
10.0%
20.0%
30.0%
USA Downtown Fort Worth
5.5%
15.2%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
Accommodation and Food Service
Full-Service Restaurants
Sour
ces:
U.S
. Cen
sus
Bure
au a
nd T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
LOFT in Sundance Square
9STATE OF DOWNTOWN FORT WORTH 2014
Cumulative Value of Building Permits Downtown Fort Worth, 2002 – 2014
$394 $482
$613
$752
$956
$1,064
$1,171 $1,223
$1,374 $1,446
$1,560
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
2002-04 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$151
$73
$114
$0
$50
$100
$150
$200
2012 2013 2014
Millions
Millions
Sour
ce: C
ity o
f For
t Wor
th
Tabachin Ribbon Dedication CeremonyTaco Diner in Sundance Square
Off
ice
an
d E
mp
loy
men
t
New Class A Office Buildings Downtown Fort Worth
PROJECT SQUARE FEET
One City Place / 300 Throckmorton
328,125
The Westbrook / 425 Houston 80,607The Cassidy / 420 Commerce 66,940The Cassidy / 407 Throckmorton
66,940
STATE OF DOWNTOWN FORT WORTH 201410
We’ve got what you’re looking for.Downtown Fort Worth has nearly 10 MILLION square feet of multitenant office space and
50 square feet of retail space for every 1,000 square feet of office space.
New office space added since November 2013Class A: 542,612 SF / 10.8% of inventory
46,892 jobs in Downtown
1,523 private businesses$3 BILLION in private payroll
89.0% 90.9%
93.2% 94.9%
96.2%
92.9%
90.9%
92.5%
89.5%
84.6%
86.4%
92.0%
75%
80%
85%
90%
95%
100%
7.5
8.0
8.5
9.0
9.5
10.0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Inventory Occupancy Million
square feet
Office Inventory and Occupancy Rate Downtown Fort Worth
Sour
ce: C
oSta
r
Class A Office Buildings
Burnett Plaza 1,024,627777 Main 954,895D.R. Horton Tower 820,509Wells Fargo 716,533Pier One Plaza 460,000Two City Place 312,525One City Place 306,470Carnegie 280,000Chase Bank 201,901Cash America 135,293Cantey Hanger 84,113The Westbrook 70,478The Cassidy 66,940Commerce Building 61,770The Tower 30,000Source: CoStar
11STATE OF DOWNTOWN FORT WORTH 2014
The newly renovated MorningStar Oil & Gas Building
redevelopment adds 187,000 sq ft of owner-occupied space to Downtown.
The Cassidy Building in Sundance Square
Off
ice
an
d E
mp
loy
men
t
Office Occupancy Rate Fourth Quarter 2014
Class A Office Occupancy Rates Downtown Fort Worth
Sour
ce: C
oSta
r
Sour
ce: C
oSta
r
73.6
%
73.7
%
73.7
%
73.3
%
90.9
%
92.5
%
89.5
%
92.0
%
86.9
%
88.6
%
87.7
%
88.1
%
74.5
% 84
.7%
87
.8%
88.8
%
86.4
%
88.5
%
0%
20%
40%
60%
80%
100%
2009 2010 2011 2012 2013 2014
Dallas CBD Fort Worth CBD USA
-291.0
165.1
301.5
-223.5
168.4
-7.4
2.6
114.7
-90.2
-614.7
-887.6
-139.6
170.7132.2
891.7267.5
-1,000
2007
2008
2009
2010
2011
2012
2013
2014
0 200 400 600 -600 -400 -200 800 1,000-800
Downtown Dallas Downtown Fort Worth
Thousand Square Feet
Net Absorption of Office Space
Sour
ce: C
oSta
r
94.2%
97.4%
92.7%
92.3% 93.0%
87.3%
93.2% 93.7% 94.8%
82.9% 82.0%
70%
75%
80%
85%
90%
95%
100%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
492,848 sq ft of Class A
multi-tenant office space
added since 2013.
The Commerce Building in Sundance Square
STATE OF DOWNTOWN FORT WORTH 201412
0%
10%
20%
30%
40%
50%
2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013
Dallas LBJ Expressway Irving/Las Colinas Richardson/Plano Dallas Uptown
0%
10%
20%
30%
40%
50%
2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013
6.8% 6.3% 5.2%
17.1% 18.0% 19.5%
20.3%
24.7%
25.1%
24.0%
23.2%
23.3%
23.3%
24.4%
24.0%
23.9%
24.0% 19.2%
17.9%
15.8%
13.3%
14.8% 20.7%
22.3%
20.1%
10.1% 9.3%
22.6%
16.8% 11.4%
8.6% 9.8%
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
23.1%
23.9%
24.7%
25.3%
23.2%
2014 2014 2014 2014
2014 2014 2014 2014
18.7% 23.3%
19.2%
Metro Area Class A Office Vacancy Rates
2014 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 2010 2011 2012 2013
2014 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 2010 2011 2012 2013
13.5%
15.2% 16.8%
14.4% 14.1%
22.9%
19.6% 19.4%
23.0%
18.5%
Dallas LBJ Expressway Irving/Las Colinas Richardson/Plano Dallas Uptown
22.6%
23.2%
24.9% 25.7%
24.2%
9.9% 10.1%
0%
10%
20%
30%
40%
50%
18.8% 17.8% 17.7% 18.8% 17.8%
12.0%
11.2% 17.7% 19.3% 15.1%
10.9%
14.9% 15.2%
26.2% 26.1% 26.7%
25.5%
21.2%
0%
10%
20%
30%
40%
50%
2014 2010 2011 2012 2013
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
7.5%
10.5%
8.0% 15.3% 13.6%
Metro Area Office Vacancy Rates
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13STATE OF DOWNTOWN FORT WORTH 2014
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Metro Area Class A Office Rental Rates ($/SF)
Metro Area Class B Office Rental Rates ($/SF)
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$10
$15
$20
$25
$30
$35
$10
$15
$20
$25
$30
$35
2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013
Dallas LBJ Expressway Irving/Las Colinas Richardson/Plano Dallas Uptown
2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
2014 2014 2014 2014
2014 2014 2014 2014
$27.42
$26.90
$28.44 $28.74
$29.23 $22.19
$22.01
$21.91 $18.50
$18.31
$18.61
$17.51
$19.73
$19.09
$19.20
$20.04
$18.90
$21.12 $21.20
$21.32
$21.83
$22.78
$24.93
$21.60
$20.79
$21.49
$22.29
$23.20
$29.53
$29.80
$30.55
$31.39$33.26
$20.41
$20.45
$20.94
$22.81
$23.36
$23.14
$24.86
$10
$15
$20
$25
$30
$10
$15
$20
$25
$30
2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013
Dallas LBJ Expressway Irving/Las Colinas Richardson/Plano Dallas Uptown
2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013 2010 2011 2012 2013
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
2014 2014 2014 2014
2014 2014 2014 2014
$19.04
$19.18
$19.38
$20.58
$20.76
$17.94
$18.15
$18.12
$18.37
$19.28
$18.28
$19.11
$13.63 $13.77 $13.87 $16.22
$14.21
$15.65
$15.72
$15.34
$15.98
$17.19 $18.59
$18.31
$18.31
$19.17
$19.21 $17.45
$16.97
$17.77 $21.34
$22.96
$24.09
$25.45
$30.08
$14.41 $16.17
$17.02
$17.97
$19.30
STATE OF DOWNTOWN FORT WORTH 201414
Energy Efficient Office Space Downtown Fort Worth
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Million square feet
5,319,302
2,499,927
22,880
2,796,495
0
1
2
3
4
5
6
Total Energy Efficient Space
Energy Star Certified
LEED Certified (Gold)
LEED Certified (Silver)
Average Office Rental Rates Downtown Fort Worth
$21.12
$26.08
$29.20 $29.03 $30.20
$27.98 $27.42 $26.90
$28.44 $29.23
$16.08 $17.02
$18.13 $18.37
$21.12
$18.79 $19.04 $19.15 $19.38
$20.58
$15
$20
$25
$30
$35
2004 2005 2006 2007 2008 2009 2010 2011 2012 2014 2013
Class A Class B
$28.74
$20.76
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Downtown, the Southside and the Westside combined generate $5,559,490,000 in annual payroll. Downtown Fort Worth has the highest number of employees and generates the largest payroll among all of the employment centers in the county.
$42,055
$78,683
$58,097
$0
$20,000
$40,000
$60,000
$80,000
Cultural District Downtown Medical District
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Average Payroll Per Employee in Private Sector
ZIP CODE (SUBMARKET)PRIVATE SECTOR
EMPLOYEES PAYROLLPAYROLL PER
EMPLOYEE
76102 (Downtown) 38,044 $2,993,415,000 $78,683
76104 (Near Southside) 27,983 $1,625,720,000 $58,097
76107 (Cultural District) 22,360 $940,355,000 $42,055
15STATE OF DOWNTOWN FORT WORTH 2014
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$23.20
$23.36
$24.93
$22.91
$28.74
$28.19
$33.26
$18.61
$23.20
$21.12
$24.86
$23.36
$19.11
$18.78
$19.21
$17.18
$20.76
$20.65
$30.08
$13.87
$27.36
$17.19
$19.28
$19.30
$0 $5 $10 $15 $20 $25 $30 $35
Richardson/Plano
Mid-Cities
Irving/Las Colinas
Fort Worth Northeast
Downtown Fort Worth
Dallas Far North
Dallas Uptown
Dallas Stemmons Freeway
Dallas Preston Center
Dallas LBJ
Dallas Central Expressway
Downtown Dallas
Class A Class B
Unemployment Rates in 2014
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7.0% 7.0%6.8%
5.9%
6.1%6.3%
6.5%6.3%
5.7%5.5% 5.5% 5.4%
6.2% 6.3%
5.7%
5.1%
5.7%5.8% 5.9%
5.1% 4.9%
4.4%
5.7%5.8%
5.4%
4.7%
5.1%
5.5% 5.6%5.7%
5.0%4.8%
4.6%
4.1%
3%
4%
5%
6%
7%
8%
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
Dallas Fort WorthUSA
5.4%
5.5%
STATE OF DOWNTOWN FORT WORTH 201416
National Office Statistics 4Q 2014AVERAGE ASKING
RENTOVERALL
VACANCY RATE
Atlanta $19.47 14.2%
Austin $28.44 8.6%
Boston $20.77 9.2%
Chicago $23.18 13.7%
Dallas/Fort Worth $21.62 14.3%
Denver $23.26 10.3%
Houston $27.24 10.8%
Los Angeles $30.30 11.5%
New York $55.91 7.8%
Philadelphia $21.80 10.8%
Phoenix $21.19 16.9%
Seattle $29.13 9.0%
Washington, DC $34.46 14.5%Source: CoStar
Business Profile Number of Businesses per Category Downtown Fort Worth
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43
4
27
50
80
373
80
80
29
123
57
82
1
250
9
39
19
85
91
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 Total private
employees: 38,044
Total number of businesses: 1,523
Annual payroll: $2,993,415,000
Bob R. Simpson Building
17STATE OF DOWNTOWN FORT WORTH 2014
STATE OF DOWNTOWN FORT WORTH 201418
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Lifestyle
56.1
%
Other 3.7%
Community 1.7%
Convenience 11.7%
Location 8.0%
Work 18.7%
Reason for Living Downtown
Lifestyle was selected as the primary reason for living Downtown by 57.2% of condo/townhome owners
and 55.3% of apartment renters.
TriniTy Terrace - river TowerconTinuing care reTiremenT communiTy ankrom moisan archiTecTs - porTland, oregon
DDRB Design Review HeaRing14 February 2014 13
rendered view along wesT 10Th sTreeT
Living the Downtown lifestyle.Downtown Fort Worth is currently experiencing a residential renaissance, as individuals and families
embrace an urban lifestyle. Ranked by the U.S. Census Bureau as America’s 17th-largest city,
Fort Worth’s population has grown 48.5% since 2000 to the current population of 794,189 (U.S.
Census Bureau). The city added 34,451 residents from 2012 to 2013, a 4.5% growth in one year.
Much of Fort Worth’s population increase is attributed to the region’s diversified economy, strong
regional business clusters, relatively low land cost, land availability, a revitalized and growing
Downtown, and rejuvenated central-city neighborhoods.
River Terrace, Opening 2017
19STATE OF DOWNTOWN FORT WORTH 2014
Very unsafe 0.3%Unsafe 2.5%
Very Safe
Safe57.3%
40.0%
Neighborhood Safety Downtown Fort Worth
Maintained 94.9 average apartment occupancy since 2006, while increasing inventory by 59%
Density of 3,943 residents per square mile in Downtown (1,500 housing units/sq mile)
City of Fort Worth density of 2,274 residents per square mile (846 housing units/sq mile)
$220,000 Median sale price of Downtown condos/townhomes purchased in 2014
14.6% increase in average apartment rent since 2006 – $1,467/2006 to $1,688/today
$4 MILLION: top Downtown condo sale20.2% of the condo sales market in Fort Worth is located in Downtown
74% of Downtown condo owners have income greater than $100,000
49% of Downtown residents’ income is double
the national median household income or greater
85% of Downtown residents have a bachelor's degree or higher
1,245 Residential rental units planned or under construction
Downtown absorbed 280 apartment units in 2014 while maintaining an occupancy rate above 95%
Residents perceive Downtown as safe.
• 97.3% of residents rated their neighborhood as safe or very safe.
• 99.5% of residents feel safe or very safe walking in Downtown during the day.
• 90.4% of residents feel safe or very safe walking in Downtown after dark.
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STATE OF DOWNTOWN FORT WORTH 201420
Pop
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Housing affordability has been one of Fort Worth’s competitive advantages. In December 2014, the median price of a home in Fort Worth was $151,400, compared to $245,400 in Austin and $217,500 in Dallas. The median home price in the U.S. was $295,100.
Currently, there are 926 owner-occupied residential units in Downtown, up 887 units, a 2,274% growth since 2003. The median sale price of a home in Downtown Fort Worth is $212,450 (4Q 2014).
Residential – For Rent
The rental market remained at historically high occupancy. Currently, there are 2,526 units in Downtown with monthly rents ranging from $865 to $5,320 (4Q 2014). The occupancy rate of rental units in Downtown has stayed above 90% since 2006. Although 262 units became available in 2Q 2014 (an 11.6% increase), occupancy remained above 94% and finished the year at 96.5%. During the national recession that lasted from December 2007 through June 2009, apartment occupancy in Downtown did not decline below 92% in any quarter.
Top Ten State Population Gain April 1, 2010 through July 1, 2013
325,266
408,662 Georgia
326,542 Colorado 336,987 Washington
339,174Arizona
368,115 New York 408,273 North Carolina
1,088,674
1,547,997
1,810,854
0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 2,000,000
Virginia
Florida
California
Texas
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Fastest-Growing Metropolitan Areas Population Added April 1, 2010 through July 1, 2013
170,290
180,895
205,874
236,210
263,534
302,589
313,583
383,084
384,703
392,702
0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000
Phoenix-Mesa-Scottsdale, AZ
San Francisco-Oakland-Hayward, CA
Seattle-Tacoma-Bellevue, WA
Miami-Fort Lauderdale-Pompano Beach, FL
Atlanta-Sandy Springs-Roswell, GA
Washington-Arlington-Alexandria, DC-VA-MD-WV
Houston-The Woodlands-Sugar Land, TX
Los Angeles-Long Beach-Anaheim, CA
Dallas-Fort Worth-Arlington, TX
New York-Newark-New Jersey, NY-NJ-PASo
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. Cen
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21STATE OF DOWNTOWN FORT WORTH 2014
Regional City Population Change 2000 – 20132000 2013 % CHANGE
Austin, TX 656,562 885,415 34.9%Baton Rouge, LA 227,818 229,405 0.7%Dallas, TX 1,188,580 1,257,676 5.8%El Paso, TX 563,662 674,438 19.7%Fort Worth, TX 534,694 794,189 48.5%
Houston, TX 1,953,631 2,197,374 12.5%Little Rock, AR 183,133 197,357 7.8%Oklahoma City, OK 506,132 610,617 20.6%San Antonio, TX 1,144,646 1,409,000 23.1%Shreveport, LA 200,145 200,191 0.0%Tulsa, OK 393,049 398,724 1.4%Source: U.S. Census Bureau
Regional City Change in Median Family Income 2000 – 2013CITY 2000 2013 % CHANGE
Austin, TX $54,091 $71,511 32.2%Baton Rouge, LA $40,266 $46,110 14.5%Dallas, TX $40,921 $44,852 9.6%El Paso, TX $35,432 $46,420 31.0%Fort Worth, TX $42,939 $61,651 43.6%
Houston, TX $40,443 $49,886 23.3%Little Rock, AR $47,446 $64,285 35.5%Oklahoma City, OK $42,689 $58,947 38.1%San Antonio, TX $41,331 $52,808 27.8%Shreveport, LA $37,126 $47,808 28.8%Tulsa, OK $44,518 $52,119 17.1%USA $50,046 $64,030 27.9%Source: U.S. Census Bureau
The Dallas- Fort Worth
Metropolitan area population grew by
384,703 from 2010 – 2013.
Pinnacle Bank Place, Opening 2016
STATE OF DOWNTOWN FORT WORTH 201422
Pop
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Fort Worth Residential Population:
With the addition of more apartments, the Downtown Fort Worth residential population is becoming younger, wealthier and better educated, and has grown at an annual rate of 5.8% since 2007. Currently, 6,228 people live in the Downtown. DFWI has conducted four surveys of residents since 2007 to monitor trends in the changing demographics of the Downtown population. Our latest survey was conducted in December 2014.
A one-sheet survey instrument was delivered to 2,456 households in Downtown using first-class postage. The response rate was 17.6% providing a margin of error of +4% at a 95% confidence level.
A summary of the survey and trends is presented here. The full report can be downloaded from DFWI’s web site at www.dfwi.org, or contact Arrie Mitchell at [email protected] to receive a copy.
Median Annual Household Income
48.9% of Downtown households have income exceeding $100,000 per year
Downtown Residents’ Previous Place of Residence
28.9% cities in the Metroplex other than Fort Worth
32.6% Fort Worth
12.9% Texas outside of the Metroplex
20.3% other states
Employment
23.8% Healthcare
9.7% Education
21.9% Science & Engineering
13.2% Finance
6.8% Retail
6.2% Government
5.5% Law
57.2% of Downtown residents are under 40 years old
68.4% of apartment renters are under 40 years old
23.6% of condominium and townhome residents are under 40
70% of apartment renters and 37.1% of condominium and townhome owners are unmarried
95.5% of households have no children living in the household
Downtown residents are highly educated
48.1% of residents have a bachelor’s degree
27.5% a master’s degree
9.4% a doctoral degree (including JDs)
Lifestyle was cited as the primary reason for living Downtown by 57.2% of condominium/townhome owners and 55.3% of apartment renters
23STATE OF DOWNTOWN FORT WORTH 2014
Downtown Population Study Area
Age Distribution Downtown Fort Worth Residents
6.3%
0.5%
14.3%
43.5%
23.1%
79.4%
21.3%
31.3%
18.7% 18.7%
26.4%
17.6% 10.3%
18.7%
5.5%
0%
10%
20%
40%
30%
60%
50%
70%
80%
<25 25-40 41-55 56-65 >65
69.1%
23.6% 23.6%
76.4%
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 201424
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Marital Status Downtown Fort Worth
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Children in the Household Downtown Fort Worth
7.4%
92.6%
4.5%
95.5%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
With children Without children
2011 2014
38.4%
61.6%
44.2%
55.8%
0.0%
20.0%
40.0%
60.0%
80.0%
Married Not married
2011 2014
ESPN in Sundance Square
Highest Degree Completed
48.1%
36.9%
18.6%
9.6%
18.4%
11.2%
0%
20%
40%
60%
Bachelor’s Graduate/Professional
Downtown Fort Worth USA
Highest Degree Completed Downtown Fort Worth
42.6%
33.5%
48.1%
36.9%
0.0%
20.0%
40.0%
60.0%
80.0%
Bachelor’s Graduate
2011 2014
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25STATE OF DOWNTOWN FORT WORTH 2014
Household Income Trends Downtown Fort Worth
39.0%
51.7%
9.3% 9.4%
41.7%48.9%
0.0%
20.0%
40.0%
60.0%
Less than$50,000
$50,000 - $99,999
$100,000 and above
2011 2014
1.9%
28.5% 28.8%
7.5%
18.8% 18.8% 20.0% 20.1%
17.9% 21.7%
12.1% 11.9%
48.9%
20.6% 22.6%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Less than $30,000 $30,000- $49,999
$50,000- $74,999
$75,000- $100,000
More than$100,000
Downtown Fort Worth USA
3.3% 0.0%
10.3%
3.5%
29.2%
7.0%
26.3%
15.1%
30.9%
74.4%
0%
10%
20%
30%
40%
50%
60%
70%
80%
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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Lincoln Park at Trinity Bluff
STATE OF DOWNTOWN FORT WORTH 201426
Pop
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8.7
9.4
8.2
5 6 7 8 9 10
All Residents
Condo/Townhome Residents
Apartment Residents
$75.36
$91.05
$63.81
$0 $20 $40 $60 $100$80
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
5.0
4.8
5.1
0 1 2 3 4 5 6
$47.87
$52.01
$45.17
$40 $45 $50 $55
Downtown residents patronize Downtown businesses!
99.7% go to Downtown restaurants, 92.2% to bars, 75.5% to convenience/drug stores and 73.2% to retail stores. 100% of condominium and townhome owners eat at Downtown restaurants an average of 9.4
times per month and spend $91.05 per visit. 99.5% of apartment renters eat at Downtown restaurants an average of 8.2 times per month and spend $63.81 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
8.7
9.4
8.2
5 6 7 8 9 10
All Residents
Condo/Townhome Residents
Apartment Residents
$75.36
$91.05
$63.81
$0 $20 $40 $60 $100$80
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
5.0
4.8
5.1
0 1 2 3 4 5 6
$47.87
$52.01
$45.17
$40 $45 $50 $55
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
3.4
3.4
3.5
0 1 2 3 4 5 6
$35.96
$36.50
$35.02
$34 $35 $36 $37
All Residents
Condo/Townhome Residents
Apartment Residents
All Residents
Condo/Townhome Residents
Apartment Residents
2.0
2.3
1.8
0 1 2 3 4 5 6
$99.64
$126.88
$78.96
$0 $50 $100 $150
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27STATE OF DOWNTOWN FORT WORTH 2014
Very Clean
Clean
Very unclean 0.0%
Unclean 1.7%
47.7%
50.6%
Street and Sidewalk Cleanliness Downtown Fort Worth
Street and Sidewalk Cleanliness, 2011 vs. 2014 Downtown Fort Worth
93.7%
6.2%
98.3%
1.7% 0%
20%
40%
60%
80%
100%
Clean or very clean Unclean or very unclean
2011 2014
Residents perceive Downtown as clean. 98.3% of residents rated the streets and sidewalks in their neighborhood as clean or very clean.
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urve
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ecem
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014
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surv
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ecem
ber 2
014
STATE OF DOWNTOWN FORT WORTH 201428
Pop
ula
tion
an
d H
ousi
ng
Number of Residential Units Sold
8,851 10,081
2,976 395
0
2,000
4,000
12,000
6,000
8,000
10,000
14,000
16,000
Dallas Fort Worth
Single-Family Residences Condos/Townhomes
11,394
11,047
3,062
495
Dallas Fort Worth
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atio
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c.
Sales Ratio of Condos and Townhomes to Single-Family ResidencesYEAR DALLAS FORT WORTH
2009 20.8% 3.6%2010 25.9% 3.3%2011 21.1% 2.9%2012 20.6% 3.5%2013 33.3% 3.9%2014 26.9% 4.5%Source: North Texas Real Estate Information Systems, Inc.
Condominiums and Townhomes Built and Sold Downtown Fort Worth
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eal E
stat
e In
form
atio
n Sy
stem
s, In
c.
294 41 226 394 112 0 10 0 0 0 0 7
298
40
95 103
80
114
58 43
72 64
100
0
50
100
150
200
250
300
350
400
450
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Built Sold
Trinity District
20142013
29STATE OF DOWNTOWN FORT WORTH 2014
Median sales price for Downtown
condos and townhomes increased
15.8% between 2013 – 2014.
Median Residential Sales Price Per Square Foot Condominiums and Townhomes 2014
North Texas Downtown Dallas Downtown Fort Worth
$111
$182 $184
$0
$50
$100
$150
$200
$250
Median Sales Price Condominiums and Townhomes 2014
$155,000
$263,500
$220,000
$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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as R
eal E
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e In
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atio
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stem
s, In
c.
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eal E
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e In
form
atio
n Sy
stem
s, In
c.
Median Days on Market Condominiums and Townhomes 2014
North Texas Downtown Dallas Downtown Fort Worth
30
46
64
0
10
20
30
40
50
60
70
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atio
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Downtown Condominium and Townhome Sales As Percentage of City
YEAR FORT WORTH
DOWNTOWN
2006 395 96 14.5%2007 367 103 24.3%2008 275 56 28.1%2009 286 36 20.4%2010 242 47 12.6%2011 216 39 19.4%2012 315 62 18.1%2013 395 63 19.7%2014 495 100 15.9Source: North Texas Real Estate Information Systems, Inc.
20.2% of all condominiums and townhomes sold in Fort Worth in 2014 were in Downtown.
STATE OF DOWNTOWN FORT WORTH 201430
Pop
ula
tion
an
d H
ousi
ng Median Residential Sales Price
Downtown Fort Worth
$190,000
$220,000$214,900
$250,000 $233,500
$225,450
$281,000
$196,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
2005 2006 2007 2008 2009 2010 2011 2012 2014 2013
$219,900 $212,000
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e In
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atio
n Sy
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s, In
c.
Median Residential Sales Price Per Square Foot Downtown Fort Worth
$181 $184
$230 $238 $241
$234 $232
$192
$167
$193
$0
$50
$100
$150
$200
$250
$300
2013 20142005 2006 2007 2008 2009 2010 2011 2012
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as R
eal E
stat
e In
form
atio
n Sy
stem
s, In
c.
31STATE OF DOWNTOWN FORT WORTH 2014
$1.30
$1.65
$1.60
$1.55
$1.50
$1.40
$1.35
$1.45
2012 2013 20141Q 2Q 3Q 4Q
20111Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
$1.42 $1.46
$1.52 $1.52
$1.56$1.57
$1.52
$1.54$1.52
$1.57
$1.51
$1.50
$1.55
$1.53
$1.61$1.59
$1,800
$1,536
$1,544
$1,604
$1,607
$1,605
$1,654
$1,625
$1,664
$1,679
$1,680
$1,652
$1,635
$1,700
$1,600
$1,500
$1,400
$1,300
$1,200
$1,100
2011 2012 20131Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
20141Q 2Q 3Q 4Q
$1,693
$1,670
$1,706
$1,688
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Average Apartment Price Per Square Foot Downtown Fort Worth
Average Apartment Rent Downtown Fort Worth
STATE OF DOWNTOWN FORT WORTH 201432
Pop
ula
tion
an
d H
ousi
ng Residential Rental Units Planned
and Under Construction Downtown Fort Worth
PROJECT UNITS YEAR
Trinity Terrace 79 2016Hunter Plaza 164 2016Pinnacle Bank Place 130 2016Jetta Building 8 2017Cadillac Lofts 202 TBACarleton Trinity Bluff 238 TBAT&P Warehouse 350 TBA815 Commerce 143 TBASource: Downtown Fort Worth, Inc.
Average Monthly Apartment Rent Per Square Foot Downtown Fort Worth
$1.45$1.43
$1.48
$1.54 $1.54 $1.57
$1.35
$1.40
$1.45
$1.50
$1.55
$1.60
2009 2010 2011 2012 2013 2014
$1,561$1,531
$1,573
$1,637
$1,662 $1,688
$1,450
$1,500
$1,550
$1,600
$1,650
$1,700
2009 2010 2011 2012 2013 2014
Average Monthly Apartment Rent Downtown Fort Worth
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33STATE OF DOWNTOWN FORT WORTH 2014
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 542
347
37
926 units as of 2010
14% since 2005
Pre-1999
0
500
1,000
1,500
3,000
2,500
2,000
2000-2005
2006-2010
2011-2014
583
280
209
1,454
2,526
units as of 2014
73.7% since 2000
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
2011 – 2014 5.4% 12.4%2006 – 2010 17.7% 35%2000 – 2005 5.9% 14.3Sources: Downtown Fort Worth, Inc. and the City of Fort Worth
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Downtown apartment rent per sq ft increased by 9.5% since 2010.
Hos
pit
ali
ty
STATE OF DOWNTOWN FORT WORTH 201434
Business and leisure travelers agree, Downtown is the place to stay.As the hub of a vibrant tourism and business travel destination, Downtown Fort Worth boasts
2,642 hotel rooms. With 660,000+ room nights sold in 2014, the average hotel
occupancy was 69.0% with $111.54 revenue per available room (RevPAR).
Downtown paid 39.2%of Fort Worth’s hotel occupancy taxes in 2014
$106+ MILLION in Downtown hotel revenue in 2014
Hotels Planned or Under Construction
HOTEL ROOMS
Hampton Inn 245Autograph by Marriott 164Source: Downtown Fort Worth, Inc.
Blackstone Courtyard Marriott
35
Plano 5.8%
Richardson 2.9%
Arlington 9.0%
Irving 15.9%
Grapevine 6.5% Fort Worth without Downtown 13.1%
Dallas 42.7%
Downtown Fort Worth 4.0%
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exas
Com
ptro
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f Pub
lic A
ccou
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Downtown Dallas
Downtown Fort Worth
USA
50 % 55 % 60 % 65 % 70 %
64.4%
69.0%
62.9 %
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Hotel Occupancy 2014
Plano 5.2%
Richardson 2.8%
Arlington 6.2%
Irving 16.6%
Grapevine 11.6% Fort Worth without Downtown 9.3%
Dallas 42.9%
Downtown Fort Worth 5.5%
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exas
Com
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Area Hotel Revenue Share
Area Hotel Room Supply
STATE OF DOWNTOWN FORT WORTH 2014
The Ashton Depot
Blackstone Courtyard Marriott
JFK Tribute in Fort Worth
Hos
pit
ali
ty
STATE OF DOWNTOWN FORT WORTH 201436
$74.93
$99.63
$78.28
$99.52
$65.15
$88.38
$104.05
$68.69
$63.62
$114.54
$74.28
$61.08
2011
$110.00
$120.00
$100.00
$90.00
$80.00
$70.00
$60.00
$50.00
$40.00
2012 2013 2014
Dallas CBD Fort Worth CBD USA
Hotel Revenue Per Available Room
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vel R
esea
rch
1Q 11 4Q 10 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 4Q 14
41.1%
44.8%
40.8%
39.0%
37.6%
43.7%
39.8%
41.3%
40.8%
42.3%
39.2% 39.2% 40.4%
42.2%
38.7%
39.6%
40.3%
15.0%
25.0%
20.0%
30.0%
35.0%
40.0%
45.0%
50.0%
Hotel Occupancy Taxes Paid Downtown’s Share as Percentage of City
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ccou
nts
Hotels in Downtown Fort Worth generate 39.2% of
all annual hotel occupancy taxes
in the city.
IH 35W SB IH 3
0 W
B
15TH
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
BELKNAP
MILLS
7TH
MON
ROE
LAM
AR
CHER
RY
MAC
ON
LAKE
COLL
IER
BALL
INGE
R
SUM
MIT
PENN
FOUR
NIER
FORE
ST P
ARK
11TH
IH 3
5W N
B IH 30 EB
HENDERSON
3RD
5TH
13TH
WEATHERFORD
CONVENTION CENTER
SUNDANCE
SQUARE PLAZA
2
11
105 6
4
3
9
1
8
7
IH 35W SB IH 3
0 W
B
15TH
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
BELKNAP
MILLS
7TH
MON
ROE
LAM
AR
CHER
RY
MAC
ON
LAKE
COLL
IER
BALL
INGE
R
SUM
MIT
PENN
FOUR
NIER
FORE
ST P
ARK
11TH
IH 3
5W N
B IH 30 EB
HENDERSON
3RD
5TH
13TH
WEATHERFORD
CONVENTION CENTER
SUNDANCE
SQUARE PLAZA
2
11
105 6
4
3
9
1
8
7
Current Hotel Room Inventory
HOTEL ROOMS
1. Omni Fort Worth Hotel 614
2. Worthington Renaissance 504 Hotel
3. Sheraton Fort Worth 430 Hotel and Spa
4. Hilton Fort Worth 294
5. Downtown Fort Worth 203 Courtyard-Blackstone Hotel
6. Embassy Suites Fort Worth 156 Hotel Downtown
7. Marriott TownePlace Suites 140 Fort Worth Downtown
8. Holiday Inn Express Hotel 132 & Suites Downtown Fort Worth
9. Park Central Hotel 120
10. The Ashton 39
11. Etta’s Place 10
37STATE OF DOWNTOWN FORT WORTH 2014
52.2%
65.0%
60.3%
75.3% 75.9%
65.3% 65.6%
68.3%
67.0%
68.8% 71.6%
71.6%
73.6%
71.8%
65.7%
72.5%
68.0%
75.0%
58.8%
65.0%
52.6%
57.0%
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
Downtown Fort Worth USA
62.1%
71.6%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
Hotel Occupancy Rate
Sour
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vel R
esea
rch
Hos
pit
ali
ty
STATE OF DOWNTOWN FORT WORTH 201438
Fort Worth Convention Center Facts
Total arena 70,960 SFTotal exhibit hall 182,266 SFTotal exhibit space 253,226 SFBallroom space 28,160 SFPermanent seats in the arena 10,418Temporary seats in the arena 3,266Number of meeting rooms 41Hotel rooms within a 15-minute walk 2,370
Source: Fort Worth Convention & Visitors Bureau
Largest Conventions 2014 by Hotel Rooms Reserved Downtown Fort Worth
NAME ROOMS RESERVED
Kenneth Copeland Ministries 10,323Texas FFA Association 9,111Premier Designs, Inc. 8,216National Sheriffs’ Association 5,903WorldVentures Marketing, LLC 5,513Conference for the Advancement of Mathematics Teaching
4,745
Southwest Veterinary Symposium 4,531Texas Emergency Medical Services 4,405Association of Water Board Directors – Texas
3,804
American Cheerleaders Association
3,324
Republican Party of Texas 2,928Source: Fort Worth Convention & Visitors Bureau
Revenue Per Available Room (RevPAR)
$94.66
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
Downtown Fort Worth USA
$101.14
$126.17$129.13
$110.53
$111.31$117.86
$111.83 $123.92
$128.86
$99.75
$84.95
$0
$20
$40
$60
$80
$100
$120
$140
$56.95
$67.44
$75.28 $75.22 $77.21
$83.21$86.67
$84.88
$76.93$80.74
$66.05
$59.62
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RevPAR in Downtown Fort Worth
was 50.2% higher than the
national average.
39
2013 201420122011201020092008
Downtown Fort Worth USA
$50
$70
$90
$110
$130
$150
$170
$190
$105.10
$106.41 $97.34
$101.80
$106.07
$110.30
$164.29
$152.62
$145.52
$144.82
$146.82
$154.68
$115.32
$161.71
Average Daily Hotel Room Rate (RevPAR)
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STATE OF DOWNTOWN FORT WORTH 2014
The Main Table
40
Ret
ail
Dinner, 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
round out the urban mix. These diverse offerings
and the vibrant street life they foster make Downtown
more attractive to locals, visitors and residents.
With a 95.5% average retail occupancy
since 2006, soft goods retail is now taking hold.
Downtown has experienced a 50.5% growth in
clothing store sales since 2006. Several new
retailers and restaurateurs have opened in
Downtown, including The Cheesecake Factory,
Hoya Korean Kitchen, Planet Sub, Overland
Sheepskin Co., Vivo 53, and White House Black
Market. In addition, several new retailers and
restaurants have announced plans to open in
Downtown in 2015, including a 31,500 square-
foot H&M.
New retail opportunities are forthcoming at the
recently completed Sundance Square Plaza project
and One City Place remodel, which together added
more than 70,000 square feet of retail space in 2013
and 2014.
$93 MILLION annual sales for full-service Downtown restaurants
$53 MILLION in mixed beverage sales for 2014
Spending by Downtown residents
$45+ MILLION annual spending by residents in Downtown
5.4+ monthly visits to Downtown retailers
$60 average spent per retail visit
13.7 average monthly visits to Downtown restaurants and bars
$65 average spending per restaurant visit
STATE OF DOWNTOWN FORT WORTH 2014
41
As the 12th-largest economy in the world, Texas continues to fare better than many other states. For the 12th 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 2014 totaled more than $289 billion, an increase of 3.4% over 2013 and well ahead of overall U.S. exports in 2014, which grew 2.4 percent.
Texas’ top exporting industries in 2014 were petroleum and coal products, chemicals, computer and electronic products, non-electrical machinery and transportation equipment.
98.0%
92.7%
95.0%
91.2% 91.2% 92.0%
92.8% 93.1% 93.2% 92.6% 92.7%
93.3%
80%
85%
90%
95%
100% USADFWDowntown Fort Worth
4Q 2012 4Q 2013
92.9% 93.3% 93.9%
4Q 20144Q 20114Q 2010
Retail Occupancy Rate
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Downtown Fort Worth Private-Sector Employees, Businesses and Payroll
Total Downtown private-sector employees 38,044
Annual payroll $2,993,415,000Average payroll per employee $78,683Number of business establishments 1,523
Source: U.S. Census Bureau 2012
STATE OF DOWNTOWN FORT WORTH 2014
$102.6
$31.1
$11.7 $10.9 $8.9
$0
$20
$40
$60
$80
$100
Mexico Canada Brazil China Netherlands
Billions
$120
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of t
he G
over
nor,
Texa
s
Top Import Partners for Texas Goods
STATE OF DOWNTOWN FORT WORTH 201442
Ret
ail
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
Fort Worth CBD
Far North Dallas
East Fort Worth
East Dallas
Dallas CBD
Addison
96.0%
90.4%
96.5%
92.7%
95.3%
89.9%
96.1%
95.7%
94.8%
92.1%
95.7%
92.9%
87.4%
95.3%
96.4%
91.8%
87.7%
$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
Fort Worth CBD
Far North Dallas
East Fort Worth
East Dallas
Dallas CBD
Addison
$20.25
$17.58
$43.51
$10.33
$24.40
$14.06
$23.10
$18.21
$14.00
$13.54
$17.06
$18.90
$16.78
$9.45
$15.29
$14.01
$14.70
$45
Retail Occupancy Rates for Submarkets in the Dallas-Fort Worth Metropolitan Area Fourth Quarter 2014
Sour
ce: C
oSta
r
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
Fort Worth CBD
Far North Dallas
East Fort Worth
East Dallas
Dallas CBD
Addison
96.0%
90.4%
96.5%
92.7%
95.3%
89.9%
96.1%
95.7%
94.8%
92.1%
95.7%
92.9%
87.4%
95.3%
96.4%
91.8%
87.7%
$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
Fort Worth CBD
Far North Dallas
East Fort Worth
East Dallas
Dallas CBD
Addison
$20.25
$17.58
$43.51
$10.33
$24.40
$14.06
$23.10
$18.21
$14.00
$13.54
$17.06
$18.90
$16.78
$9.45
$15.29
$14.01
$14.70
$45
Retail Rental Rates ($/SF) for Submarkets in the Dallas-Fort Worth Metropolitan Area Fourth Quarter 2014
Sour
ce: C
oSta
r
43STATE OF DOWNTOWN FORT WORTH 2014
Retail Occupancy Rates for Submarkets in the Dallas-Fort Worth Metropolitan Area
Fourth Quarter 2012
Sources: CoStar and Downtown Fort Worth, Inc.
Accommodation and Food Services Gross Sales
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90July-DecemberJanuary-June
2012 201320112010200920082007
$61.6
$68.9 $70.2
$76.6 $79.2
$82.7
$67.1 $71.4
$68.2 $70.3
$76.5
NA
Millions
$78.8$80.2
2014
$89.7
$80.5
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ptro
ller o
f Pub
lic A
ccou
nts
Full-Service Restaurants Gross Sales
$5
$10
$15
$20
$25
$30
$35
$40
$45
$50
$55
2012 201320112010200920082007
Millions
$39.2
$44.2 $41.9 $41.3
$46.6 $49.1
$42.5 $44.6
$39.8 $40.0
$45.2 $46.6 $47.0 $46.3
2014
NA
$52.1 July-DecemberJanuary-June
Sour
ce: T
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Com
ptro
ller o
f Pub
lic A
ccou
nts
STATE OF DOWNTOWN FORT WORTH 201444
Ret
ail
Household Income Downtown Fort Worth Trade Areas
HOUSEHOLD BY INCOME10 MINUTES DRIVE TIME 20 MINUTES DRIVE TIME
NUMBER OF HOUSEHOLDS
PERCENT OF HOUSEHOLDS
NUMBER OF HOUSEHOLDS
PERCENT OF HOUSEHOLDS
<$15,000 15,354 22.60% 55,115 13.20%$15,000 – $24,999 11,251 16.60% 48,358 11.60%$25,000 – $34,999 9,338 13.80% 47,613 11.40%$35,000 – $49,999 10,582 15.60% 66,464 15.70%$50,000 – $74,999 19,677 14.30% 82,128 19.70%$75,000 – $99,999 4,034 5.90% 45,888 11.00%$100,000 – $149,999 4,048 6.00% 45,661 10.90%$150,000 – $199,999 1,491 2.20% 14,284 3.40%$200,000+ 2,089 3.10% 11,504 2.80%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
Apparel and Services $1,226 $92,442,563 $1,612 $696,284,563Computer and Accessories $157 $11,853,949 $212 $91,707,396Entertainment and Recreation $2,237 $168,641,472 $3,041 $1,312,864,004Food at Home $3,373 $254,262,431 $4,274 $1,845,387,944Food Away from Home $2,376 $179,095,673 $3,117 $1,345,568,626Health Insurance $1,340 $101,005,147 $1,751 $756,272,493Investment $957 $72,137,182 $1,400 $604,530,391Home $10,979 $568,421,938 $15,077 $6,508,908,019Household Furnishings and Equipment
$879 $66,285,553 $1,178 $508,769,345
Travel $864 $65,144,993 $1,241 $535,784,345Vehicle Purchases $3,262 $245,893,761 $4,250 $1,835,086,986Consumer 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 $594,060,316 $2,147,856,318Clothing and Clothing Accessories Stores 448 $156,637,726 $622,410,557General Merchandise Stores 452 $218,807,113 $1,722,199,970Non-Store Retailers 454 $71,172,713 $178,671,783Food Services and Drinking Places 722 $528,624,977 $2,068,727,072Full-Service Restaurants 7221 $266,108,753 $801,345,825Limited Service Eating Places 7222 $182,611,726 $1,087,124,293Special Food Services 7223 $48,093,082 $87,868,420Drinking Places - Alcoholic Beverages 7224 $31,811,416 $92,388,535NAICS: 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 2014
Drive Time Downtown Fort Worth
Drive Time 2012 – 2017 Downtown Fort Worth10 MINUTES DRIVE TIME 2012 2017
Population 193,979 206,134Households 67,865 71,837Average household size 2.79 2.80Owner-occupied housing units 35,596 38,568Renter-occupied housing units 32,269 33,269Median age 31.8 32.4Source: ESRI
10 MINUTES
drive time
20 MINUTES
drive time
STATE OF DOWNTOWN FORT WORTH 201446
Ret
ail
Mixed-Beverage Gross Sales Downtown Fort Worth
Sour
ce: T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
$40,831,349
$43,497,449 $43,994,761
$42,760,505
$48,126,636 $48,206,547 $48,872,124
$25
$30
$35
$40
$45
$55
$50
2007 2008 2009 2010 2011 2012 2013 2014
$52,963,206
Millions
Clothing Stores Gross Sales Downtown Fort Worth
Sour
ce: T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
$2.8
$1
$2
$3
$4
2012 20132011201020092008
$3.1
2014
NA
Millions
$2.3
$2.1
$2.4
$2.6
$2.4
$2.8
$3.2
$2.3
$2.6
$2.2 $2.3
July-DecemberJanuary-June
47STATE OF DOWNTOWN FORT WORTH 2014
Gross Sales All Industries Dollars Per Square MileMARKET 2012 2013
Downtown Fort Worth $670,514,791 $736,904,143
76104 Near Southside $181,160,710 $176,551,74576107 Cultural District $209,629,178 $234,776,684Fort Worth $112,067,584 $123,003,585Source: Texas Comptroller of Public Accounts
Movie Night in Sundance Square Plaza
48
Qu
ali
ty o
f L
ife Livability.com ranked Downtown Fort
Worth as the #1 downtown in the U.S. Nowhere is our excellent quality of life more apparent than in Downtown, where education,
entertainment, parks and amenities are abundant.
STATE OF DOWNTOWN FORT WORTH 2014
49STATE OF DOWNTOWN FORT WORTH 2014
Entertainment Venues Downtown Fort Worth
VENUE AVAILABLE SEATS
Fort Worth Convention Center (Arena Seating)
10,418
Bass Performance Hall 2,056AMC Sundance 11 1,850Maddox-Muse Center 300McDavid Studio 300Four Day Weekend 212Jubilee Theatre 147Circle Theatre 125Source: Downtown Fort Worth, Inc. survey
Entertainment290,000+ arts venue attendance
Parks/Recreation385 acres of park land servicing Downtown
Access to 72 miles of trails
4,300 free night and weekend parking spaces
412,000+ items in circulation at the Central Library
6 childcare centers
STATE OF DOWNTOWN FORT WORTH 201450
Qu
ali
ty o
f L
ife PID #1 & #14
Created in 1986, Downtown Fort Worth 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, and litter removal. From 1986 to 2009, the 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. Downtown Fort Worth Improvement District #14 was established in June 2009. Since then, District contractors provide sidewalk maintenance along Samuels Avenue on Sundays and supplemental weekly trash pick-up.
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
ROE
LAM
AR
CHER
RY
MAC
ON
LAKE
COLL
IER
BALL
INGE
R
SUM
MIT
PENN
FOUR
NIER
FORE
ST P
ARK
11TH
IH 3
5W N
B IH 30 EB
HENDERSON
7TH3RD
5TH
13TH
WEATHERFORD
BELKNAP
BLUFF
SAMUEL AVENUE
PID #1
PID #14
PID Districts
SUNDANCE
SQUARE PLAZA
$39,106,702 budgeted revenue & expenses for the life of PID #1 since its creation in 1986.
$1,204,820 in services annually
3,744 miles of curb and gutter cleaning annually, 72 miles weekly
1,249 trees serviced within PIDs
Grackle population has been reduced to 2% of original numbers due to Operation Grackle (25,000 reduced to 500)
1,984 cubic yards of dirt and sand debris removed from streets, curbs and gutters annually
15,660 linear miles of sidewalks cleaned annually
146 Downtown trees lighted
17 full-time clean-team members
2 cubic yards of recycle material collected each week
11,000 sq feet of planters in bloom year-round
51STATE OF DOWNTOWN FORT WORTH 2014
Tax Increment Finance District #3
A significant public-private 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 $73 million, leveraging $584 MILLION in private development and facilitating $41 million in public investment. The lifetime cap of the TIF is $100 MILLION.
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
JARVISAD
AMS
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
ET10TH
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
IH 3
3W N
B IH 30 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
$47.70
$592.97
$0
$100
$200
$300
$400
$500
$600
$700
$800
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
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’sCity PlaceGarage/Retail
Westbrook, Commerce Buildings
CassidyBuilding
City’s TIF Contribution TIF Costs Investments Tax Increment
$584.25
$23.35
Sour
ce: D
ownt
own
Fort
Wor
th, I
nc. a
nd T
arra
nt A
ppra
isal
Dis
tric
t
Downtown TIF Costs, Investments and Tax Increment
STATE OF DOWNTOWN FORT WORTH 201452
Ed
uca
tion
10,394 higher education students Downtown in 2014
= future customers
= future workforce
= future residents
Downtown higher education enrollment grew by 1,396% in 12 years
2003 695
2014 10,394
From Pre-K to MBA, Downtown is the place to learn.
806 K-12 education students Downtown in 2014
Fort Worth ISD announced $69M to Downtown STEM and
Performing & Visual Arts High Schools.
1st Qtr 2015
Higher Education Fall Semester Enrollment Downtown Fort Worth
770
1,000
0
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
20122011 20132010
0
100
200
300
400
500
600
700
800
900
1,000
2012 2013
702
201420112010
0
1,800
1,600
1,400
1,200
1,000
800
600
400
200
2012 201320112010
6,786
7,808
9,557
10,712 10,757
6,000
8,000
7,000
9,000
10,000
11,000
12,000
2009 2010 2011 2012 2013 2014
5,459
7,237
8,410 8,849
2014
8,774 1,581 1,590 1,564
1,138
2014
918
768 730 738
10,394
Number of students enrolled in higher education campuses in Downtown remained steady in 2013 but has increased by 53.2% since 2009.
53STATE OF DOWNTOWN FORT WORTH 2014
Tarrant County College
Texas A&M School of Law
University of Texas at Arlington Fort Worth Center
Sour
ce: D
ownt
own
Fort
Wor
th, I
nc. S
urve
y of
Dow
ntow
n Ed
ucat
ion
Inst
itutio
ns
Educational Institutions Downtown Fort Worth
2014 – 2015 ENROLLMENT
Montessori at Sundance Square 97St. Paul Lutheran School 224Young Women’s Leadership Academy 308Nash Elementary School 274Texas A&M School of Law 702University of Texas at Arlington, Fort Worth Center 918Tarrant County College, Trinity River Campus 8,774Source: Downtown Fort Worth, Inc. Survey of Downtown Education Institutions
11,297 students
in 2014.
Tra
nsp
orta
tion
54
Downtown Fort Worth, a local transit hub, offers excellent access to various transportation options throughout the community and the Dallas-Fort Worth area. The Intermodal Transportation Center, which opened in 2002, is the central gathering point for the
Greyhound Bus Line, the Fort Worth Transportation Authority (The T), Trinity Railway Express,
Amtrak, taxis and the Molly the Trolley shuttle service. Currently, 39 bus routes serve Downtown.
The T also operates a “Free Zone” which offers rides at no cost to anyone traveling within the
central business district.
Downtown visitors enjoy 4,300 free parking spaces available after 6 p.m. on weekdays and
all day on weekends, courtesy of the Downtown Tax Increment Finance District. In addition,
The Tower garage offers first-hour-free parking during daytime hours, as does the City Place
garage for validated guests. There are more than 42,000 Downtown parking spaces.
To inform the public about the many parking options Downtown, a Fort Worth parking website was
created through a partnership between the City of Fort Worth, Downtown Fort Worth, Inc., Fort
Worth Convention & Visitors Bureau, and the Historic Stockyards. Fortworthparking.com
allows users to quickly find the nearest parking options.
STATE OF DOWNTOWN FORT WORTH 2014
55STATE OF DOWNTOWN FORT WORTH 2014
27% increase in bus ridership since 2005 (10 years)
420,656 Downtown riders for the Trinity Railway Express (2014)
505,434 Molly the Trolley ridership since inception (May 2009)
14 Bike Share stations in Downtown
2,850,600
Calories Burned on 32,267 trips taken using Fort Worth’s Bike Share Program in 2014
531,000+ Average daily traffic count on Downtown highways
Meacham International Airport, North Texas’s premier general aviation facility, is located just 5 miles from Downtown
Dallas-Fort Worth International Airport • 17 miles from Downtown • 63+ MILLION passengers in
2014 • 148 domestic non-stop
destinations • 56 international destinations • 24 carriers • Approximately 172,000+
passengers daily • Every major city in the
continental United States can be accessed within four hours
fourhours
Tra
nsp
orta
tion
STATE OF DOWNTOWN FORT WORTH 201456
COMING
2018TexRail Commuter
Rail System
Trinity Railway Express Ridership Fiscal Years 2003 – 2014
4.78 4.84
4.98 5.00
5.19
5.46
2.14
0.0
0.5
1.0
1.5
2.0
2.5
3.0
2012201120102009200820072006200520042003 2013
2.29
2014
2.29 2.16 2.15
2.4 2.5
2.7 2.65
2.5 2.4 2.3
Millions
Thousands
0
100
200
300
400
500
600
2011201020092008200720062005200420032002 2012
381
422 438
460 454 481 491 498
532
571 596
2013
531
Millions
3.00
3.50
4.00
4.50
5.00
5.50
6.00
20122011201020092008200720062005 2013 143,000
147,000
144,000
137,000
143,000
141,000
151,000
155,000
175,000
168,000
163,000
177,000
101,000
106,000
102,000
106,000
112,000
106,000
67,000
63,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2006
2007
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
2013
139,818175,187
105,54965,2974
SH 287 SH 121 I-35W I-30
5.21
2014
5.56
4.39
4.83
Sour
ce: F
ort W
orth
Tra
nspo
rtat
ion
Auth
ority
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.
57STATE OF DOWNTOWN FORT WORTH 2014
4.78 4.84
4.98 5.00
5.19
5.46
2.14
0.0
0.5
1.0
1.5
2.0
2.5
3.0
2012201120102009200820072006200520042003 2013
2.29
2014
2.29 2.16 2.15
2.4 2.5
2.7 2.65
2.5 2.4 2.3
Millions
Thousands
0
100
200
300
400
500
600
2011201020092008200720062005200420032002 2012
381
422 438
460 454 481 491 498
532
571 596
2013
531
Millions
3.00
3.50
4.00
4.50
5.00
5.50
6.00
20122011201020092008200720062005 2013 143,000
147,000
144,000
137,000
143,000
141,000
151,000
155,000
175,000
168,000
163,000
177,000
101,000
106,000
102,000
106,000
112,000
106,000
67,000
63,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2006
2007
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
2013
139,818175,187
105,54965,2974
SH 287 SH 121 I-35W I-30
5.21
2014
5.56
4.39
4.83
4.78 4.84
4.98 5.00
5.19
5.46
2.14
0.0
0.5
1.0
1.5
2.0
2.5
3.0
2012201120102009200820072006200520042003 2013
2.29
2014
2.29 2.16 2.15
2.4 2.5
2.7 2.65
2.5 2.4 2.3
Millions
Thousands
0
100
200
300
400
500
600
2011201020092008200720062005200420032002 2012
381
422 438
460 454 481 491 498
532
571 596
2013
531
Millions
3.00
3.50
4.00
4.50
5.00
5.50
6.00
20122011201020092008200720062005 2013 143,000
147,000
144,000
137,000
143,000
141,000
151,000
155,000
175,000
168,000
163,000
177,000
101,000
106,000
102,000
106,000
112,000
106,000
67,000
63,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2006
2007
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
2013
139,818175,187
105,54965,2974
SH 287 SH 121 I-35W I-30
5.21
2014
5.56
4.39
4.83
Annual Ridership for Bus Routes Serving Downtown Fort Worth 2005 – 2014
Average Daily Traffic Count on Selected State and National Highways Serving Downtown Fort Worth
Sour
ce: F
ort W
orth
Tra
nspo
rtat
ion
Auth
ority
Sour
ce: T
exas
Dep
artm
ent o
f Tra
nspo
rtat
ion
Tra
nsp
orta
tion
STATE OF DOWNTOWN FORT WORTH 201458
15.0%
20.0%
25.0%
22.0%
61.9%
92.0%
0.8%
8.1%
2.6%
81.4%
1.3%
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
12.5%
DowntownDallas*
2.9%
DowntownAustin*
4.5%
DowntownDallas*
74.1%
DowntownDallas*
Means of Transportation to Work: Car, Truck or Van
*Zip
cod
es 7
5201
and
752
02 a
re u
sed
for d
ownt
own
Dal
las
Zip
code
787
01 is
use
d fo
r dow
ntow
n Au
stin
So
urce
: US
Cens
us B
urea
u
Means of Transportation to Work: Public Transportation
15.0%
20.0%
25.0%
22.0%
61.9%
92.0%
0.8%
8.1%
2.6%
81.4%
1.3%
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
12.5%
DowntownDallas*
2.9%
DowntownAustin*
4.5%
DowntownDallas*
74.1%
DowntownDallas*
*Zip
cod
es 7
5201
and
752
02 a
re u
sed
for d
ownt
own
Dal
las
Zip
code
787
01 is
use
d fo
r dow
ntow
n Au
stin
So
urce
: US
Cens
us B
urea
u
Means of Transportation to Work: Walk or Bike
15.0%
20.0%
25.0%
22.0%
61.9%
92.0%
0.8%
8.1%
2.6%
81.4%
1.3%
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
12.5%
DowntownDallas*
2.9%
DowntownAustin*
4.5%
DowntownDallas*
74.1%
DowntownDallas*
*Zip
cod
es 7
5201
and
752
02 a
re u
sed
for d
ownt
own
Dal
las
Zip
code
787
01 is
use
d fo
r dow
ntow
n Au
stin
So
urce
: US
Cens
us B
urea
u
59STATE OF DOWNTOWN FORT WORTH 2014
4.78 4.84
4.98 5.00
5.19
5.46
2.14
0.0
0.5
1.0
1.5
2.0
2.5
3.0
2012201120102009200820072006200520042003 2013
2.29
2014
2.29 2.16 2.15
2.4 2.5
2.7 2.65
2.5 2.4 2.3
Millions
Thousands
0
100
200
300
400
500
600
2011201020092008200720062005200420032002 2012
381
422 438
460 454 481 491 498
532
571 596
2013
531
Millions
3.00
3.50
4.00
4.50
5.00
5.50
6.00
20122011201020092008200720062005 2013 143,000
147,000
144,000
137,000
143,000
141,000
151,000
155,000
175,000
168,000
163,000
177,000
101,000
106,000
102,000
106,000
112,000
106,000
67,000
63,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2006
2007
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
2013
139,818175,187
105,54965,2974
SH 287 SH 121 I-35W I-30
5.21
2014
5.56
4.39
4.83
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
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.
Means of Transportation to Work: Public Transportation
60
PID
Ad
viso
ry B
oard
60
Jack Clark Chair Red Oak Realty
Hank Akin Klabzuba Realty
Rita Aves Oil & Gas Building
Johnny Campbell Sundance Square
Rick Cantalini Tower Condo Association I
Richard Casarez ONCOR Electric Delivery
Andrew Casperson Omni Fort Worth Hotel
Gary W. Cumbie The Cumbie Consultancy
Jim Finley Finley Resources Inc.
Dave Fulton Hilton Fort Worth
Taylor Gandy Ron Investments, Ltd
Melissa Graham Cousins Properties
Ossana Hermosillo City of Fort Worth
Marie Holliday, DMD Flowers to Go in Sundance Square
Teresa Jarvise Starpoint Commercial Properties, LLC
Julie Jones Chesapeake Energy Corporation
John Klukan The Worthington Renaissance Fort Worth Hotel
Delores Knight Mallick Tower
Walter Littlejohn The Fort Worth Club
Michelle Lynn Building Owners & Managers Association
Allison Millington Behringer Harvard
T. Pollard Rogers Cantey & Hanger, L.L.P.
Tom L. Struhs Struhs Construction
Jed Wagenknecht Downtown Fort Worth Blackstone Courtyard Marriott
Joy Webster MorningStar Capital
STATE OF DOWNTOWN FORT WORTH 2014
Downtown Fort Worth, Inc. Publications
Annual Report Commercial Market Report Downtown Dashboard Downtown Retail Profile In View Residential Focus State of Downtown
Information Sources
City of Fort Worth CoStar Downtown Fort Worth, Inc. ESRI Federal Housing Finance Agency Fort Worth Convention and Visitors Bureau Fort Worth Transportation Authority “The T” Nash Elementary School National Association of Realtors The North Central Texas Council of Governments North Texas Real Estate Information System, Inc. Office of the Governor of Texas, 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 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 Young Women’s Leadership Academy
Downtown Fort Worth, Inc. Staff
Andrew Taft President
Matt Beard Director of Public Improvement Districts
Cleshia Butler Administrative Assistant
Jay Downie Event Producer
Becky Fetty Director of Membership and Marketing
Joanna Sanchez Accounting Assistant
Allison Wright Marketing and Project Manager
Diana Hahn Program and Production Manager
Melissa Konur Director of Planning
Brandi Huckabee Controller
Arrie Mitchell Director of Research
Carole Robinson 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:
Carmen Escalante Research Specialist Texas Comptroller of Public Accounts
Phil Dupler Service Planner Fort Worth Transportation Authority “The T”
Andrea Timbes CRM Analyst Convention and Visitors Bureau
Susan White City of Fort Worth Planning and Development Department
Special thanks to Brian Luenser, Burnett Plaza, Geno Loro, Jeffrey Stvan, Selling the Fort, Sundance Square, Steve Reisman, The T, and UTA Fort Worth Center for their photography.
PMS 286
777 Taylor Street, Suite 100
Fort Worth, Texas 76102
817.870.1692 | www.dfwi.org
Downtown Fort Worth is a remarkable place and DFWI members make it even better.
You are invited to be a part of Downtown,become a member today!
For membership information contactBecky Fetty