Post on 28-Jul-2016
description
STaTe of DoWnToWn
2013
ForewordWelcome to our ninth 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 help communicate the underlying economic trends shaping our center city.
Downtown Fort Worth continued its outstanding momentum in 2013. Office rental rates bested national averages and hospitality measures did the same. 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.
Jack Clark Chairman
Fort Worth Improvement District #1 (PID)
Johnny Campbell Chairman of the Board Downtown Fort Worth, Inc.
Table of ContentsYear in Review .................................................. 2
office and employment ...................................10
Population and Housing ...................................20
Hospitality ........................................................38
Retail ................................................................44
Quality of Life ..................................................52
education .........................................................56
Transportation .................................................58
PID advisory Board ..........................................64
arrie Mitchell Director of Research
Downtown Fort Worth, Inc.In the early 1980s, Fort Worth began the urban revitalization of its Downtown central business district. The goal for Downtown was to be a center city bustling with activity morning, noon and night, both during the workweek and on weekends. To provide a private-sector voice for this revitalization effort, Downtown Fort Worth, Inc. (DFWI) was established by a handful of concerned property owners in December 1981.
Since its inception, DFWI has evolved into a significant advocate for progress and excellence. This membership-based organization has contributed to Downtown Fort Worth’s vitality by serving as a liaison, ombudsman and information source for property owners, developers and prospective businesses.
Every 10 years, DFWI partners with the City of Fort Worth and the Fort Worth Transportation Authority (The T) to update the Downtown Strategic Action Plan. This plan is incorporated into the City’s comprehensive plan and implemented through a series of committees and public/private partnerships. The City of Fort Worth approved Plan 2023 in December 2013.
DFWI expanded its management role in 1986 by establishing Fort Worth Improvement District #1 (PID) to provide enhanced services to 335 blocks within Downtown Fort Worth. Due to the PID’s ongoing success, in 2009 PID #1 was re-established for a 20-year period and PID #14 was created.
In 1988, Downtown Fort Worth, Inc. formed Downtown Fort Worth Initiatives, Inc. (DFWII). This 501(c)(3) nonprofit organization provides a pathway for foundation grants, philanthropic donations and other contributions to help fund charitable, educational and public-purpose Downtown projects.
In 1995, DFWI championed the creation of the Downtown Tax Increment Financing (TIF) District. The TIF is managed by DFWI through a contract with the TIF Board of Directors. The TIF Board approved an increase in the lifetime cap to $100 million, which the City Council approved in September 2013. The TIF has leveraged and obligated $69 million in public commitments into $433 million in private-sector investment and generated more than a half-billion dollars in tax increment.
Through the programs of DFWI, members take an active role in the management of, and advocacy for, the center city. Several standing committees and special task forces work to fulfill the organization’s mission of creating a vibrant, healthy and attractive center in which to work, live and play.
1state of downtown fort worth 2013
Yea
r in
Rev
iew
state of downtown fort worth 2013
1,206 acres
1.8 square miles
1,468 Downtown businesses
5,709 Downtown residents
3,172 residential units
2,642 hotel rooms
35,907 private employees
44,755 Downtown employees (all jobs)
$74,906 average private payroll per employee
At $2,689,653, Downtown generates a larger payroll (8.9%) than any other employment center in the county, contributing
18.5 times its geographic weight in private payroll
10 MILLION square feet of office space
$2.9 BILLION in gross sales from all Downtown industries in 2012
$77,799,863 property taxes paid in 2013
$22,792,952 property taxes paid to the City of Fort Worth in 2013
$7,037,824 property taxes paid to Tarrant County in 2013
$14,561,600 hotel taxes paid in 2013
$88,936,032 sales taxes paid in 2012 12.3% of the city’s taxable sales are transacted in Downtown
Downtown contributes 10.0 times its geographic weight in sales tax.
$181,411,730 Downtown property, hotel and sales taxes paid in 2012
$1,511,054,399 total taxes paid Downtown 1992-2012
DOWNTOWN BY THE NUMBERS
Downtown Fort Worth is a 1.875-square-mile high- performing submarket, in the fastest growing metropolitan area in the state. With more than 44,000 employees, Downtown Fort Worth is the largest employment center in Tarrant County. Private payroll generated in Downtown exceeds $2.6 billion per year, the highest among employment centers in the county.
The labor force in Fort Worth grew by 16.5% from December 2007 (pre-recession) to December 2013. This is 23.6 times faster than the national labor force, which grew at 0.7%. Downtown Fort Worth grew 1.4 times faster than Texas at 11.7%. Over this same period, Fort Worth added 46,188 jobs, increasing its work force by 15.3%. During the same period, Texas increased its work force by 10.0%, while the national employment force has decreased by 1.2%.
Change in Unemployment
U.S. Unemployment
December rate 6.7%Dec. 2012 – Dec. 2013 change -1.2Texas Unemployment
December rate 6.0%Dec. 2012 – Dec. 2013 change -0.2Fort Worth Unemployment
December rate 5.4%Dec. 2012 – Dec. 2013 change -0.4
Sources: City of Fort Worth, Tarrant County, U.S. Census Bureau, State of Texas
2
The Fort Worth area’s annual employment growth rate from 2012 to 2013 was 2.0% compared to 1.0% for the nation. The unemployment rate for the City of Fort Worth was 5.4% in December 2013, significantly lower than the national rate of 6.7%.
In addition to a healthy labor market, Downtown Fort Worth’s economy performed exceptionally well in 2013, 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 6,647,496 in 2012. 16.6% of this regional growth is attributed to Fort Worth.
Trini
ty Rive
r
3state of downtown fort worth 2013
6,113
51,521
0
20,000
40,000
60,000
Dallas Fort Worth
Job Growth from December 2007 to December 2013Employment: Employment in Fort Worth grew by 16.3% from pre-recession December 2007 to December 2013. In Dallas it grew by 1%.Source: Texas Workforce Commission
Contribution of Fort Worth to Regional GrowthPopulation: From 2000 to 2012, 33.9% of regional population growth (for cities with more than 100,000) occurred in Fort Worth. Dallas contributed 3%.Source: U.S. Census Bureau
Arlington 5.5% Carrollton 1.8%
Denton 5.6% Dallas 3.0%
Frisco 13.5%
Garland 1.9%
Grand Prairie 7.6%
Irving 4.1%
McKinney 12.6%
Mesquite 2.4%
Plano 6.7%
Richardson 1.3%
Fort WorthFort Wort
h 3
3.9
%
Yea
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state of downtown fort worth 20134
Office: The office and retail space markets in Downtown Fort Worth absorbed nearly 500,000 square feet of office space in 2013 while occupancy remained on par with the national average. Occupancy for class A office space in Downtown Fort Worth in 2013 was 82.9%, compared to a national average occupancy of 87.2%. In 2013, 84.7% of all Downtown Fort Worth office space was occupied. A positive net absorption of 132,200 square feet was reported in 2013, compared to 2,600 square feet of office space in 2012 and a negative absorption of 7,400 square feet in 2011. 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 2012 and 2013, more than 70% of the leasing activity occurred with firms of that size.
Leasing Activities, Share of Market SpaCe (SF) 2012 2013
<4,000 71% 74%4,001 – 10,000 21% 17%>10,001 8% 9%Source: CoStar
Sour
ce: C
oSta
r
6.7%
7.3%
8.5%
6.3%
6.9%
8.1%
6.3%
6.7%
7.6%
6.0%
6.5%
7.1%
6.5%
6.9%
7.3%
6.9%
7.2%
7.8%
6.6%
6.9%
7.7%
6.2%
6.5%
7.3%
6.1%
6.7%
7.0%
5.9%
6.4%
7.0%
5.6%
6.1%
6.6%
5.4%
5.9%
6.5%
5.0%
6.0%
5.5%
6.5%
7.5%
7.0%
8.0%
8.5%
9.0%
Jan-1
3
Feb-1
3
Mar-13
Apr-13
May-13
Jun-1
3
Jul-1
3
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Dallas USA Fort Worth
Sour
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Wor
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omm
issi
on
Unemployment Rate in 2013
All Office Space Occupancy
4Q 2013Class A Office Space Occupancy
4Q 2013Retail Space Occupancy
4Q 2013
88.5% 86.5%
50%
60%
70%
80%
90%
100%
USA Fort Worth Fort Worth Fort Worth
87.2% 84.3%
USA
93.4% 93.7%
USA
5state of downtown fort worth 2013
4.4%
6.3% 6.1%
9.6%
6.1% 6.1%
15.1%
5.6% 5.7%
7.4%
6.1%
10.4% 10.5%
7.5%
9.5%
5.6% 6.8% 6.9%
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
6.2% 5.2%
Unemployment Rate Among 20 Largest U.S. Cities November 2013
Employment Growth December 2013 Over December 2012
2.4%
2.0%
1.0%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Dallas Fort Worth USA
Sour
ce: T
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Wor
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omm
issi
onSo
urce
: U.S
. Bur
eau
of L
abor
Sta
tistic
s
Yea
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iew
state of downtown fort worth 20136
Residential: Development remained strong in Downtown, with an additional 280 rental units nearing completion. Lincoln Property Company has 256 units under construction at the north end of Downtown. The Knights of Pythias redevelopment will bring 18 rental units to the Hillside neighborhood, with a mix of market-rate and affordable units at 80% of the area median income. Six penthouse apartments are currently under construction in the Cassidy building in Sundance Square at 407 Throckmorton. The addition of 280 rental units will bring the total inventory to 2,526 apartments. The multifamily average rent in Downtown Fort Worth increased 1.5% in 2013 to $1,662 and apartment occupancy averaged 95.3% in 2013.
The average days on market for condominiums and townhomes in Downtown Fort Worth decreased to 99 days. Through the fourth quarter of 2013, the median price for a Downtown residential unit sold through the MLS system was $190,000, which is down slightly compared to the 2012 median price of $212,000.
Average Days on Market for Condominiums and Townhomes
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
emSo
urce
: Dow
ntow
n Fo
rt W
orth
86
103
95
120
103
142
150
166
126
230
101
220
0
50
100
150
200
250
2007 2008 2009 2010 2011 2012 2013
70
99
USA Fort Worth
$1,557 $1,561
$1,531
$1,573
$1,637
$1,662
95.5% 95.4%
94.8%
94.5%
95.3%
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%2008 2009 2010 2011 2012 2013
Average Rental Rates Average Occupancy
7state of downtown fort worth 2013
Hospitality: The Downtown hotel market, which virtually doubled in rooms in late 2008, continued to perform well above national market and other large markets in the Dallas-Fort Worth metropolitan area. The occupancy rate in 2013 was 67.3%, higher than the national average of 62.3%. Revenue per available room (RevPAR) was $104.05, significantly above the national average at $68.69.
Downtown hotel revenue grew moderately during the national recession and showed accelerated growth with the addition of the Omni Hotel in 4Q 2008. Hotel occupancy taxes paid in Downtown set an all-time record of $3,756,943 in 1Q 2013.
Downtown’s share 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 six quarters. While 20% of all hotel rooms are Downtown, more than 40% of all hotel occupancy taxes were paid in Downtown.
Hotels in Downtown Fort Worth generate 40% of all annual
hotel occupancy taxes in the city.
4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 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
31.7%
37.3%
37.6%
40.3%
39.3%
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%
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’s Hotel Occupancy Revenue
Sour
ce: T
exas
Com
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ccou
nts
4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 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
$4,000
$2,076
$2,494
$2,793 $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 $3,391
$3,574 $3,757 $3,659
$2,523 $2,473
$2,801
$3,330 $3,540
$2,841
Sour
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Hotel Occupancy Taxes Paid Downtown Fort Worth
Yea
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Rev
iew
state of downtown fort worth 20138
Retail: The Downtown retail market continues to perform well. The first two quarters of 2013 have maintained the peak levels obtained in 2012 with some of the strongest sectors being Accommodation and Food Services, Clothing Stores, Limited-Service Eating Places and Food and Beverage Stores.
Retail occupancies maintained a robust rate of 93% in existing space. The average rent for retail space in Downtown was $22.69 per square foot. In addition, Downtown added 50,000 square feet of retail space in the new Commerce and Westbrook buildings in Sundance Square and at the newly renovated One City Place.
Change in Gross Sales 2Q 2013 over 2012
4.7%
4.8%
4.7%
4.7%
4.8%
4.8%
4.9%
USA Downtown Fort Worth
3.9%
15.6%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
7.5%
1.5%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
0.7%
12.3%
0.0% 2.0% 4.0% 6.0% 8.0%
10.0% 12.0% 14.0%
USA Downtown Fort Worth
0.9%
181.6%
0.0%
50.0%
100.0%
150.0%
200.0%
USA Downtown Fort Worth
-22.4%
-8.8%
-20.0%
-25.0%
-15.0%
-10.0%
-5.0%
0.0%
USA Downtown Fort Worth
4.7%
4.8%
4.7%
4.7%
4.8%
4.8%
4.9%
USA Downtown Fort Worth
3.9%
15.6%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
7.5%
1.5%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
0.7%
12.3%
0.0% 2.0% 4.0% 6.0% 8.0%
10.0% 12.0% 14.0%
USA Downtown Fort Worth
0.9%
181.6%
0.0%
50.0%
100.0%
150.0%
200.0%
USA Downtown Fort Worth
-22.4%
-8.8%
-20.0%
-25.0%
-15.0%
-10.0%
-5.0%
0.0%
USA Downtown Fort Worth
4.7%
4.8%
4.7%
4.7%
4.8%
4.8%
4.9%
USA Downtown Fort Worth
3.9%
15.6%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
7.5%
1.5%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
0.7%
12.3%
0.0% 2.0% 4.0% 6.0% 8.0%
10.0% 12.0% 14.0%
USA Downtown Fort Worth
0.9%
181.6%
0.0%
50.0%
100.0%
150.0%
200.0%
USA Downtown Fort Worth
-22.4%
-8.8%
-20.0%
-25.0%
-15.0%
-10.0%
-5.0%
0.0%
USA Downtown Fort Worth
Retail Trade
Clothing Stores
Limited-Service eating places
4.7%
4.8%
4.7%
4.7%
4.8%
4.8%
4.9%
USA Downtown Fort Worth
3.9%
15.6%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
7.5%
1.5%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
0.7%
12.3%
0.0% 2.0% 4.0% 6.0% 8.0%
10.0% 12.0% 14.0%
USA Downtown Fort Worth
0.9%
181.6%
0.0%
50.0%
100.0%
150.0%
200.0%
USA Downtown Fort Worth
-22.4%
-8.8%
-20.0%
-25.0%
-15.0%
-10.0%
-5.0%
0.0%
USA Downtown Fort Worth
4.7%
4.8%
4.7%
4.7%
4.8%
4.8%
4.9%
USA Downtown Fort Worth
3.9%
15.6%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
7.5%
1.5%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
0.7%
12.3%
0.0% 2.0% 4.0% 6.0% 8.0%
10.0% 12.0% 14.0%
USA Downtown Fort Worth
0.9%
181.6%
0.0%
50.0%
100.0%
150.0%
200.0%
USA Downtown Fort Worth
-22.4%
-8.8%
-20.0%
-25.0%
-15.0%
-10.0%
-5.0%
0.0%
USA Downtown Fort Worth
4.7%
4.8%
4.7%
4.7%
4.8%
4.8%
4.9%
USA Downtown Fort Worth
3.9%
15.6%
0.0%
5.0%
10.0%
15.0%
20.0%
USA Downtown Fort Worth
7.5%
1.5%
0.0%
2.0%
4.0%
6.0%
8.0%
USA Downtown Fort Worth
0.7%
12.3%
0.0% 2.0% 4.0% 6.0% 8.0%
10.0% 12.0% 14.0%
USA Downtown Fort Worth
0.9%
181.6%
0.0%
50.0%
100.0%
150.0%
200.0%
USA Downtown Fort Worth
-22.4%
-8.8%
-20.0%
-25.0%
-15.0%
-10.0%
-5.0%
0.0%
USA Downtown Fort Worth
Drinking places
Manufacturing
Non-Residential Construction Sour
ces:
U.S
. Cen
sus
Bure
au a
nd T
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9state of downtown fort worth 2013
Cumulative Value of Building Permits Downtown Fort Worth, 2003 – 2013
$270
$394 $482
$613
$752
$956
$1,064
$1,171 $1,223
$1,374 $1,446
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Millions
Sour
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f For
t Wor
th
Off
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mp
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t
New Class A Office Buildings Downtown Fort Worth
Project Square Feet
One City Place/ 300 Throckmorton
328,125
Westbrook/425 Houston 80,607Commerce/420 Commerce 66,000
state of downtown fort worth 201310
We’ve got what you’re looking for!Downtown Fort Worth has over 10 MILLION square feet of multitenant office space, with 50 square
feet of retail space for every 1,000 square feet of office space. Downtown has maintained
an average office occupancy of 92.1% since 2006 while increasing our
inventory by 6.1%.
Office Space Added to the Marketclass a:425,908 SF/ 8.5% of inventory
class a multitenant office rental rate increased by 8.7% since 2011
44,755 jobs in Downtown
1,468 businesses$2.7 BILLIoN in private payroll
82.4%
89.0%
90.9%
93.2% 94.9%
96.2%
92.9%
90.9%
92.5%
89.5% 88.1%
92.0%
75%
80%
85%
90%
95%
100%
7.5
8.0
8.5
9.0
9.5
10.0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Inventory Occupancy Million
square feet
Office Inventory and Occupancy Rate Downtown Fort Worth
Sour
ce: C
oSta
r
There are 14 Class A office buildings totaling 5,459,085 square feet, with an average rental rate of $29.23 per square foot. In addition, there are 43 class B office buildings with a total rentable building area of 3,729,050 square feet and a rental rate of $20.58 per square foot.
Eighteen Fortune 500 companies are headquartered in the Dallas-Fort Worth metropolitan area with total revenue exceeding $794 Billion.
Class A Office Buildings
Burnett Plaza 1,024,600777 Main 954,895D.R. Horton Tower 820,509Wells Fargo 716,533Chesapeake Plaza 460,000Two City Place 312,525One City Place 306,470Carnegie 280,000Chase Bank 201,901Cash America 135,293Cantey Hanger 84,113The Westbrook 70,478Commerce Building 61,770The Tower 30,000Source: CoStar
11state of downtown fort worth 2013
Off
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Office Occupancy Rate Fourth quarter 2013
Class A Office Occupancy Rates Downtown Fort Worth
Sour
ce: C
oSta
r
Sour
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oSta
r
75.4
%
73.6
%
73.7
%
73.7
%
73.3
%
92.9
%
90.9
%
92.5
%
89.5
%
92.0
%
88.2
%
86.9
%
88.6
%
87.7
%
88.1
%
74.5
% 84
.7%
97.9
%
0%
20%
40%
60%
80%
100%
2008 2009 2010 2011 2012 2013
Dallas CBD Fort Worth CBD US
-291.0
375.7
153.0
165.1
301.5
-223.5
168.4
-7.4
2.6
-337.3
241.3
114.7
-90.2
-614.7
-887.6
-139.6
170.7132.2
-1,200
2005
2006
2007
2008
2009
2010
2011
2012
2013
0 200 400 600 -600 -400 -200 800 -800-1,000
Downtown Dallas Downtown Fort Worth
Thousand Square Feet
Net Absorption of Office Space
Sour
ce: C
oSta
r
92.2%
94.2%
97.4%
92.7%
92.3% 93.0%
87.3%
93.2% 93.7% 94.8%
82.9%
70%
75%
80%
85%
90%
95%
100%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
425,908 sq ft of class a multi-
tenant office space added
in 2013.
state of downtown fort worth 201312
0%
10%
20%
30%
40%
50%
2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012
Dallas LBJ Expressway Irving/Las Colinas Richardson/Plano Dallas Uptown
0%
10%
20%
30%
40%
50%
2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012
12.7% 6.8%
6.3%
5.2%
17.1%
17.3%
19.5%
20.3% 21.1%
24.7%
25.1%
24.0%
23.2%
22.4%
23.3%
24.4%
24.0%
23.9% 16.4%
19.2%
17.9%
15.8%
13.3% 19.6%
20.7%
22.3%
20.1%
10.1% 18.3%
22.6%
16.8% 11.4%
8.6%
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
22.5%
23.1%
23.9%
24.7%
25.3%
2013 2013 2013 2013
2013 2013 2013 2013
18.7% 23.3%
Metro Area Class A Office Vacancy Rates
0%
10%
20%
30%
40%
50%
2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012
2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012
12.9%
13.5%
15.2%
16.8% 14.1% 23.3%
22.9%
19.6% 19.4%
18.5%
Dallas LBJ Expressway Irving/Las Colinas Richardson/Plano Dallas Uptown
21.5%
22.6%
23.2%
24.9%
25.7% 9.9%
0%
10%
20%
30%
40%
50%
20.0%
18.8%
17.8%
17.7%
20.0%
18.8%
17.8% 12.0%
17.7%
15.9%
19.3%
15.1%
10.9%
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
9.1%
7.5%
10.5%
8.0% 15.3%
14.9%
23.8%
26.2%
26.1%
26.7%
25.5%
Metro Area Office Vacancy Rates
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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
2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012
Dallas LBJ Expressway Irving/Las Colinas Richardson/Plano Dallas Uptown
2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
2013 2013 2013 2013
2013 2013 2013 2013
$27.98
$27.42
$26.90
$28.44
$29.23
$22.92
$22.19
$22.01
$21.91
$17.32
$18.50
$18.31 $17.51
$19.73
$19.60
$19.09
$19.20
$20.04
$18.90 $21.81
$21.20
$21.32
$21.83
$22.78 $21.37
$21.60
$20.79
$21.49
$22.29
$30.26
$29.53
$29.80
$30.55
$31.39
$20.54
$20.41
$20.45
$20.94
$22.81 $23.14
$10
$15
$20
$25
$30
$10
$15
$20
$25
$30
2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012
Dallas LBJ Expressway Irving/Las Colinas Richardson/Plano Dallas Uptown
2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012
Downtown Fort Worth Downtown Dallas Dallas Central Expressway Dallas Stemmons Freeway
2013 2013 2013 2013
2013 2013 2013 2013
$18.79
$19.04
$19.18
$19.38
$20.58$18.85
$17.94
$18.15
$18.12
$18.37
$18.28
$14.23
$13.63 $13.77 $16.22
$14.21
$15.97
$15.65
$15.72
$15.34
$15.98
$19.39
$18.59
$18.31
$18.31
$19.17 $18.46
$17.45
$16.97
$17.77 $22.82
$21.34 $22.96
$24.09
$25.45
$16.11 $14.41
$16.17
$17.02
$17.97
state of downtown fort worth 201314
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 2013
Class A Class B
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$22.29
$24.06
$22.78
$22.41
$29.23
$26.65
$31.39
$18.31
$32.52
$18.90
$23.14
$22.81
$18.28
$18.84
$19.17
$17.19
$20.58
$19.47
$25.45
$13.77
$23.72
$15.98
$18.37
$17.97
$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 2013
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8.5%
8.1%
7.6%
7.1%
7.3%
7.8%7.7%
7.3%
7.0% 7.0%
6.6% 6.5%
7.3%
6.9%6.7%
6.5%
7.2%
6.9%
6.5%6.4%
6.1%5.9%
6.7%
6.3% 6.3%
6.0%
6.5%
6.9%
6.6%
6.2%6.1%
5.9%
5.6%5.4%
5%
6%
7%
8%
9%
10%
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Dallas Fort WorthUSA
6.7%
6.9%
state of downtown fort worth 201316
National Office Statistics 4Q 2013average aSkINg
reNtoveraLL
vacaNcy rate
Atlanta $18.85 15.0%
Austin $27.94 9.3%
Boston $21.11 9.6%
Chicago $23.45 14.2%
Dallas/Fort Worth $20.55 14.8%
Denver $22.03 11.4%
Houston $25.43 11.4%
Los Angeles $29.19 12.3%
New York $52.35 8.3%
Philadelphia $21.10 11.2%
Phoenix $20.30 18.3%
Seattle $26.80 10.2%
Washington, DC $34.21 14.1%Source: CoStar
Business Profile Number of Businesses per Category Downtown Fort Worth
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48
4
25
44
84
376
104
87
32
44
40
86
1
241
7
43
25
85
92
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, Entertaiment, and Recreation
Administrative and Support
Accommodation and Food Services
Major Private Employers Downtown Fort WorthemPLoyer NumBer oF
emPLoyeeS
XTO Energy 1,753RadioShack 900Pier One Imports 750AT&T 622Cash America 577Oncor Electric 350Jacobs 337General Motors Financial Company
315
Fort Worth Star-Telegram 261Quicksilver Resources 252Source: Downtown Fort Worth, Inc. survey
total private employees: 35,907
total number of businesses: 1,468
annual payroll: $2,689,653,000
17state of downtown fort worth 2013
Off
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Current Residence of Downtown Employees
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Inflow of Employees to Downtown Area: 55,847
Downtown ResidentsWho Work Downtown: 497
Outflow of Downtown AreaResidents to Work: 3,112
state of downtown fort worth 201318
Downtown, the Southside and the Westside combined generate $5,017,735,000 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.
$37,143
$74,906
$55,693
$0
$20,000
$40,000
$60,000
$80,000
Cultural District Downtown Medical District
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Current Residence of Downtown Fort Worth Employees cities with greater than 700 employees
Number of Downtown Fort Worth employees who live in:
Fort Worth 19,055
Arlington 4,924Dallas 1,818North Richland Hills
1,224
Mansfield 886Benbrook 842Haltom City 821Grand Prairie 807Burleson 805Bedford 794Keller 720 Count by City 5,001 – 20,000 2,001 – 5,000 700 – 2,000
Average Payroll Per Employee in Private Sector
ZIP coDe (SuBmarket)PrIvate Sector
emPLoyeeS PayroLLPayroLL Per
emPLoyee
76102 (Downtown) 35,907 $2,689,653,000 $74,906
76104 (Medical District) 26,847 $1,495,190,000 $55,693
76107 (Cultural District) 22,424 $832,892,000 $37,143
19state of downtown fort worth 2013
state of downtown fort worth 201320
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Lifestyle 42.5
%
Employment 12.7%
Other 4.6%
Central location 15.2%
Employment and lifestyle 4.9%
Lifestyle and central location 11.1%
Employment, lifestyle and central location 8.9%
Reason for Living Downtown
Lifestyle was selected as the primary reason for living Downtown by 54.4% of condo/townhome owners
and 36.7% of apartment renters.
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 16th-largest city,
Fort Worth’s population has grown 46% since 2000 to the current population of 758,738 (U.S.
Census Bureau). The city added 24,285 residents from 2011 to 2012, a 3.2% 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.
21state of downtown fort worth 2013
Very unsafe 0.3%Unsafe 2.9%
Very Safe
Safe
Neighborhood Safety Downtown Fort Worth
Maintained 94.8% average apartment occupancy since 2006, while increasing inventory by 57%.
Density of 3,578 residents per square mile in Downtown (1,442 housing units/sq mile)
City of Fort Worth density of 2,221 residents per square mile (882 housing units/sq mile)
$190,000 Median sale price of Downtown condos/townhomes purchased in 2013
11.5% increase in average apartment rent since 2006 – $1,467/2006 to $1,635/today
$4 MILLION: top Downtown condo sale21% of condo sales in Fort Worth were located in Downtown
$125,000 median household income of a Downtown condo owner
$100,000 median Downtown
household income double the national median household income
16.2% of Downtown residents have a doctoral degree
1,258 Residential rental units planned or under construction
Average days on market for Downtown condos
and townhomes decreased 71.3% from 4Q 2012 to 4Q 2013
Residents perceive Downtown as safe.
• 96.8% of residents rated their neighborhood as safe or very safe.
• 100% of residents feel safe or very safe walking in Downtown during the day.
• 87.1% of residents feel safe or very safe walking Downtown after sunset.
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state of downtown fort worth 201322
Pop
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ng Housing affordability has been one of Fort Worth’s competitive advantages. In December 2012, the median
price of a home in Fort Worth was $135,100, compared to $227,200 in Austin and $197,800 in Dallas. The median home price in the U.S. was $198,000.
Currently, there are 926 owner-occupied units in Downtown, up 887 units, since 2003. The median sale price of a home in Downtown Fort Worth is $190,000 (4Q 2013). The days on market for condos has dropped 55% to 99 days from 2012 to 2013.
The rental market remained at historically high occupancy. Currently, there are 2,246 units in Downtown with monthly rents ranging from $710 to $5,320 (4Q 2013). The occupancy rate of rental units in Downtown has stayed above 90% since 2006. Although 369 units became available in 1Q 2010, occupancy remained above 93% since 2010 and averaged 95.3% in 2013. During the national recession that lasted from December 2007 through June 2009, apartment occupancy in Downtown never declined below 92% in any quarter.
Top Ten State Population Gain July 1, 2012 through July 1, 2013
73,777
75,002
75,475
76,088
76,521
78,909
99,696
232,111
332,643
387,397
0 100,000 200,000 300,000 400,000 500,000
New York
Washington
Virginia
Georgia
Arizona
North Carolina
Colorado
Florida
California
Texas
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Fastest-Growing Metropolitan Areas Population Added 2011–2012
55,715
55,916
60,110
72,208
77,847
84,169
99,895
120,184
125,602
127,326
0 20,000 40,000 60,000 80,000 100,000 120,000 140,000
Phoenix-Mesa-Glendale, AZ
San Francisco-Oakland-Fremont, CA
Riverside-San Bernardino-Ontario, CA
Atlanta-Sandy Springs-Marietta, GA
Miami-Fort Lauderdale-Pompano Beach, FL
Washington-Arlington-Alexandria, DC-VA-MD-WV
New York-Northern New Jersey-Long Island, NY-NJ-PA
Los Angeles-Long Beach-Santa Ana, CA
Houston-Sugar Land-Baytown, TX
Dallas-Fort Worth-Arlington, TX
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The Dallas- Fort Worth
Metropolitan area population grew by
540,238 from 2007 – 2012.
23state of downtown fort worth 2013
Top Ten State Population Gain July 1, 2012 through July 1, 2013
Regional City Population Change 2000 – 20122000 2012 % ChAnge
Austin, TX 656,562 842,595 28.3%Baton Rouge, LA 227,818 230,040 1.0%Dallas, TX 1,188,580 1,241,108 4.4%El Paso, TX 563,662 672,534 19.3%Fort Worth, TX 534,694 782,027 46.3%
Houston, TX 1,953,631 2,161,686 10.6%Little Rock, AR 183,133 196,530 7.3%Oklahoma City, OK 506,132 599,309 18.4%San Antonio, TX 1,144,646 1,383,194 20.8%Shreveport, LA 200,145 201,878 0.9%Tulsa, OK 393,049 394,098 0.3%Source: U.S. Census Bureau
Regional City Change in Median Family Income 2000 – 2012CiTy 2012 2000 % ChAnge
Austin, TX $63,023 $54,091 25.8%Baton Rouge, LA $49,378 $40,266 22.6%Dallas, TX $43,804 $40,921 7.0%El Paso, TX $46,770 $35,432 32.0%Fort Worth, TX $60,489 $42,939 40.9%
Houston, TX $48,122 $40,443 19.0%Little Rock, AR $58,873 $47,446 24.1%Oklahoma City, OK $55,846 $42,689 30.8%San Antonio, TX $51,698 $41,331 25.1%Shreveport, LA $46,236 $37,126 24.5%Tulsa, OK $50,460 $44,518 13.3%USA $62,527 $50,046 24.9%Source: U.S. Census Bureau
state of downtown fort worth 201324
Pop
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$182,539 $196,099
$154,610
$231,872 $221,608
$255,456
$160,025
$129,724
$172,029
$193,510 $189,699
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
Atlanta Boston Chicago Dallas Fort Worth Houston Los Angeles Miami New York Philadelphia Washington, DC
2014 National Cost of Living Equivalent Cities with population greater than 500,000Austin $53,702Baltimore $66,023Boston $81,130Charlotte $54,982Chicago $67,048Columbus $50,562Dallas $55,295Denver $60,155Detroit $55,451El Paso $53,221Fort Worth $55,000
Houston $56,401Jacksonville $55,028Las Vegas $57,618Los Angeles $75,256Memphis $49,334Milwaukee $58,718New York $128,808Oklahoma City $52,063Philadelphia $70,112Phoenix $55,318Portland $68,033San Antonio $50,887San Diego $75,488San Francisco $94,134San Jose $87,397Seattle $68,137Tucson $54,704Washington, DC $82,612Source: CNN-Money
income required to enjoy the same
standard of living as a family in Fort Worth
earning $55,000 per year.
Home Price Stability Among Top 10 Most Populous Metropolitan Areas 3Q 2013 Value of a $200,000 home Purchased in 1Q 2007
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25state of downtown fort worth 2013
3.0 3.1 3.3 3.3 3.4 3.5 3.4
0.0
2.0
4.0
6.0
8.0
10.0
12.0
2006 2007 2008 2009 2010 2011
Austin
2.9 3.5 3.5 3.6 3.6 3.3 3.2
2006 2007 2008 2009 2010 2011
Baltimore
8.2 7.6 6.6
5.8 6.1 6.5 6.2
2006 2007 2008 2009 2010 2011
Boston
2.2 2.2 2.1 2.2 2.2 2.2 1.9
0.0
2.0
4.0
6.0
8.0
10.0
12.0
2006 2007 2008 2009 2010 2011
Fort Worth
3.0 3.1 3.0 3.0 2.9 2.5 2.4
2006 2007 2008 2009 2010 2011
Jacksonville
10.2 10.0 9.0 8.7 8.3 8.6 8.4
2006 2007 2008 2009 2010 2011
2012 2012 2012
2012 2012 2012
San Francisco
Lessaffordable
Moreaffordable
Lessaffordable
Moreaffordable
Home Affordability in Selected Comparable Cities Ratio of Median home Price to Median Family income
how to read this chart: housing cost = 3.5 x income
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Median Home Price December 2013
$227,200
$197,800
$146,100$135,100
$187,600 $171,100 $198,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
Austin Dallas El Paso Fort Worth Houston San Antonio USA
$68,023
$43,804 $46,770
$60,489
$48,122 $51,698
$62,527
$0
$20,000
$40,000
$60,000
$80,000
Austin Dallas El Paso Fort Worth Houston San Antonio USA
Median Family Income 2012
Fort Worth has the lowest median home price among Texas cities with population greater than 500,000.
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Pop
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Fort Worth Residential Population:
The Downtown Fort Worth residential population is becoming younger, wealthier and better educated and has grown at an annual rate of 7.2% since 2007. Currently, 5,709 people live in the central core and 6,440 in the greater Downtown area. DFWI has conducted three surveys of residents since 2007 to monitor trends in the changing demographics of the Downtown population. Our latest survey was conducted in September 2011.
A one-sheet survey instrument was delivered to 2,064 households in Downtown using first-class postage. The response rate was 23.4% providing a margin of error of ±4% at a 95% confidence level. A summary of the survey and trends are presented here. The full report can be downloaded from DFWI’s website at www.dfwi.org or contact Arrie Mitchell at arrie@dfwi.org to receive a copy.
Median Annual Household Income
42.8% of Downtown households have income exceeding $100,000 per year
$125,000 condominium and townhome owners
$83,000 apartment residents
$44,500 single-family residents
Downtown resident’s previous place of residence
36.9% cities in the Metroplex other than Fort Worth
35% Fort Worth
7.7% Texas outside of the Metroplex
13% other states
Employment
15.6% healthcare
9.1% education
8.8% Science & engineering
7.2% Law
67.2% of Downtown residents work in Fort Worth
17.8% of Downtown residents work in Downtown
51.9% of Downtown residents are under 45 years old
Downtown has more residents under 35 years old than over 65: 42.7% and 9.5%, respectively
57.7% of apartment renters are under 35 years old
27.4% of condominiums and townhomes residents are under 35
68% of apartment renters and 52.6% of condominium and townhome owners are unmarried
92.6% of households have no children living in the household
Downtown residents are highly educated
42.6% of residents have a bachelor’s degree
17.3% a master’s degree
16.2% a doctoral degree (including JDs)
A higher percentage of
residents with doctoral
degrees live in condominiums
and townhomes than in
apartments: 22.9% and 12.5%,
respectively
Lifestyle was cited as the
primary reason for living
Downtown by 54.4% of
condominium/townhome
owners and 36.7% of
apartment renters
27state of downtown fort worth 2013
Downtown Population Map
greater Downtown Fort Worth
Central Core
state of downtown fort worth 201328
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Age Distribution and Trends Downtown Fort Worth Residents
10.9%
31.8%
8.5%
17.8%
11.7% 9.8%
6.6%
2.4% 0.5%
0%
10%
20%
30%
40%
50%
<25 25-34 35-44 45-54 55-59 60-64 65-74 75-84 >85
6.7%
13.1% 10.9%
9.5%
0.0%
5.0%
10.0%
15.0%
Under 25 65 and over
2007 2011
More apartment units than condominiums
were added to Downtown inventory since 2007 (785 and 316, respectively).
Downtown apartments typically attract
younger residents, explaining the relative increase in population
of residents under the age of 25.
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29state of downtown fort worth 2013
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Children in the Household Downtown Fort Worth
Marital Status Downtown Fort Worth
12.5%
87.5%
7.4%
92.6%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
With children Without children
2007 2011
34.6%
65.4%
38.4%
61.6%
0.0%
20.0%
40.0%
60.0%
80.0%
Married Not married
2007 2011
Highest Degree Completed
42.6%
33.5%
18.5%
7.5%
17.70%
10.40%
0%
20%
40%
60%
Bachelor's Graduate/Professional
Downtown Fort Worth USA
Highest Degree Completed Downtown Fort Worth
32.4% 30.4%
42.6%
33.5%
0.0%
20.0%
40.0%
60.0%
80.0%
Bachelor’s Graduate
2007 2011
Household Income Trends Downtown Fort Worth
34.9% 25.5%
39.6%
9.3%
39.0%
51.7%
0.0%
20.0%
40.0%
60.0%
$50,000 and below
$51,000 - $100,000
$100,000 and above
2007 2011
4.5% 4.8%
21.8%
17.2%
36.3%
15.4%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Less than $35,000 $35,000- $49,999
$50,000- $74,999
$75,000- $99,999
$100,000- $199,999
$200,000 or more
Median Household Income Downtown Fort Worth
$83,000
$125,000
$0
$25,000
$50,000
$75,000
$100,000
$125,000
$150,000
Apartment Renters Condo/Townhome Owners
USA: $50,046
Sour
ces:
U.S
. Cen
sus
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010
and
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state of downtown fort worth 201330
Pop
ula
tion
an
d H
ousi
ng
7.3
7.3
3.2
0 1 2 3 4 5 6 7 8
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
$59.70
$69.20
$44.30
$0 $20 $40 $60 $80
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
5.2
4.4
2.5
0 1 2 3 4 5 6
$42.40
$41.60
$34.30
$0 $20 $40 $60
Downtown residents patronize Downtown businesses!
88.8% go to Downtown restaurants, 71% to bars, 59.6% to movies, 51.3% to convenience/drug stores, 49.9% to live entertainment, and 39.8% to retail stores.
92.1% of condominium and townhome owners
eat at Downtown restaurants an average of
7.3 times per month and spend $69.20 per visit.
89.5% of apartment renters eat at Downtown restaurants an average of 7.3 times per month and spend an average of $59.70 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
7.3
7.3
3.2
0 1 2 3 4 5 6 7 8
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
$59.70
$69.20
$44.30
$0 $20 $40 $60 $80
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
5.2
4.4
2.5
0 1 2 3 4 5 6
$42.40
$41.60
$34.30
$0 $20 $40 $60
Average Monthly Visits to Downtown Convenience/Drug Stores by Downtown Residents and Spending Per Visit
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
Apartment Renters
Condo/Townhome Owners
Single-Family Residents
4.7
3.8
2.5
0 1 2 3 4 5 6
$31.60
$36.40
$33.70
$0 $20 $40 $60
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31state of downtown fort worth 2013
Neighborhood Safety, 2007 vs. 2011 Downtown Fort Worth
92.5%
7.5%
96.8%
3.2%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
Safe or very safe Unsafe or very unsafe
2007 2011
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Very unclean 0.8%
Very Clean
Unclean 5.4%
Clean
Street and Sidewalk Cleanliness Downtown Fort Worth
Street and Sidewalk Cleanliness, 2007 vs. 2011 Downtown Fort Worth
91.9%
8.1%
93.7%
6.3%
0%
20%
40%
60%
80%
100%
Clean or very clean Unclean or very unclean
2007 2011
Residents perceive Downtown as clean. 93.7% of residents rated the streets and sidewalks in their neighborhood as clean or very clean.
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state of downtown fort worth 201332
Pop
ula
tion
an
d H
ousi
ng
Number of Residential Units Sold
2011 2012
Sales Ratio of Condos and Townhomes to Single-Family ResidencesyeAR DALLAS FoRT WoRTh
2008 20.5% 3.4%2009 20.8% 3.6%2010 25.9% 3.3%2011 21.1% 2.9%2012 20.6% 3.5%2013 33.3% 3.4%Source: North Texas Real Estate Information Systems, Inc.
6,623 7,255
1,777 216
0
4,000
8,000
12,000
Dallas Fort Worth
Single-Family Residences Condos/Townhomes
6,999
11,344
2,329
383
Dallas Fort Worth So
urce
: Nor
th T
exas
Rea
l Est
ate
Info
rmat
ion
Syst
ems,
Inc.
33
Condominiums and Townhomes Built and Sold Downtown Fort Worth
Sour
ce: N
orth
Tex
as R
eal E
stat
e In
form
atio
n Sy
stem
s, In
c.
294 41 226 394 112 0 10 0 0 0 8 7
298
40
95 103
80
114
58 43
72 64
0
50
100
150
200
250
300
350
400
450
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Built Sold
state of downtown fort worth 2013
state of downtown fort worth 201334
Pop
ula
tion
an
d H
ousi
ng
Median days on market for Downtown
condos and townhomes decreased
54.8% between 2012 – 2013.
Downtown Condominium and Townhome Sales As Percentage of City
yeAR FoRT WoRTh
DoWnToWn
2005 276 40 14.5%2006 395 95 24.1%2007 367 103 28.1%2008 275 80 29.1%2009 286 114 39.9%2010 242 58 24.0%2011 216 43 19.9%2012 315 62 19.7%2013 302 64 21.2Source: North Texas Real Estate Information Systems, Inc.
21.2% of all condominiums and townhomes sold in Fort Worth in 2013 were in Downtown.
Median Residential Sales Price Per Square Foot Condominiums and Townhomes 2013
North Texas Downtown Dallas Downtown Fort Worth
$109
$181 $181
$0
$50
$100
$150
$200
$250
Median Sales Price Condominiums and Townhomes 2013
$162,250
$231,500
$190,000
$0
$25,000
$50,000
$75,000
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
$250,000
North Texas Downtown Dallas Downtown Fort Worth
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orth
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as R
eal E
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atio
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stem
s, In
c.
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as R
eal E
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e In
form
atio
n Sy
stem
s, In
c.
Median Days on Market Condominiums and Townhomes 2013
North Texas Downtown Dallas Downtown Fort Worth
3641
66
0
10
20
30
40
50
60
70
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orth
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as R
eal E
stat
e In
form
atio
n Sy
stem
s, In
c.
35state of downtown fort worth 2013
Median Residential Sales Price Downtown Fort Worth
$190,000
$255,692
$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
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
$219,900 $212,000
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orth
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as R
eal E
stat
e In
form
atio
n Sy
stem
s, In
c.
Median Residential Sales Price Per Square Foot Downtown Fort Worth
$181
$234 $230 $238 $241
$234 $232
$192
$167
$193
$0
$50
$100
$150
$200
$250
$300
2013 2004 2005 2006 2007 2008 2009 2010 2011 2012
Sour
ce: N
orth
Tex
as R
eal E
stat
e In
form
atio
n Sy
stem
s, In
c.
state of downtown fort worth 201336
Pop
ula
tion
an
d H
ousi
ng
50%
60%
70%
80%
90%
100%
2010 2011 20121Q 2Q 3Q 4Q
20091Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
20131Q 2Q 3Q 4Q
94.1%
92.1%
93.6%
94.6%
96.2%
93.6%
96.6%
95.0%
93.5%
95.3% 94.4%
95.6% 95.6% 95.5%
93.2%
93.8%
94.4%
96.6%
95.0% 95.2%
$1,800
$1,550
$1,494
$1,550
$1,530
$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
2010 2011 20121Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
20131Q 2Q 3Q 4Q
Residential Rental Units Planned and Under Construction Downtown Fort Worth
PRoJeCT UniTS yeAR
The Cassidy 6 2014Trinity District 256 2014Knights of Pythias 18 2014Carleton Trinity Bluff 238 2015Trinity Terrace 123 2015Hunter Plaza 164 TBALancaster Place 130 TBAT&P Warehouse 343 TBASource: Downtown Fort Worth, Inc.
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Average Apartment Occupancy Rate Downtown Fort Worth
Average Apartment Rent Downtown Fort Worth
37state of downtown fort worth 2013
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
2,500
2,000
2000-2005
2006-2010 583
209
1,454
2,246
units as of 2013
54.9% since 2000
Rate of Growth of Owner-Occupied 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 Units
PeRioD FoRT WoRTh DoWnToWn
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
$1.45 $1.45$1.43
$1.48
$1.54 $1.54
$1.36$1.38$1.40$1.42$1.44$1.46$1.48$1.50$1.52$1.54$1.56
2008 2009 2010 2011 2012 2013
$1,557 $1,561$1,531
$1,573
$1,637
$1,662
$1,450
$1,500
$1,550
$1,600
$1,650
$1,700
2008 2009 2010 2011 2012 2013
Average Monthly Apartment Rent Downtown Fort Worth
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state of downtown fort worth 201338
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 640,000+ room nights sold in 2013, the average hotel
occupancy was 67.3% with $104.05 revenue per available room (RevPAR).
Downtown paid 39.2%of Fort Worth’s hotel occupancy taxes in Q3 2013
$95+ MILLION in Downtown hotel revenue in 2013
39
Plano 5.5%
Richardson 3.2%
Arlington 9.1%
Irving 15.2%
Grapevine 7.2%Fort Worth without Downtown 14.1%
Dallas 41.9%
Downtown Fort Worth
3.7%
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exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
Downtown Dallas
Downtown Fort Worth
USA
50 % 55 % 60 % 65 % 70 %
62.3%
67.3%
58.8 %
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Hotel Occupancy 2013
Plano 5.3%
Richardson 3.0%
Arlington 6.4%
Irving 15.3%
Grapevine 12.9%Fort Worth without Downtown 9.9%
Dallas 41.4%
Downtown Fort Worth
5.9%
Sour
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exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
Area Hotel Revenue Share
Area Hotel Room Supply
state of downtown fort worth 2013
Hos
pit
ali
ty
state of downtown fort worth 201340
$68.70
$90.47
$74.93
$99.63
$78.28
$99.52
$65.15
$88.38
$104.05
$68.69
$61.08
$55.49
2010
$110.00
$100.00
$90.00
$80.00
$70.00
$60.00
$50.00
$40.00
2011 2012 2013
Dallas CBD Fort Worth CBD USA
Hotel Revenue Per Available Room
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4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 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
31.7%
37.3%
37.6%
40.3%
39.3%
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%
15.0%
25.0%
20.0%
30.0%
35.0%
40.0%
45.0%
50.0%
Hotel Occupancy Taxes Paid Downtowns Share as Percentage of City
Sour
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ptro
ller o
f Pub
lic A
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
41state of downtown fort worth 2013
50.9%
66.5%
58.5%
79.3%
63.6%
62.6% 63.8%
70.0%
64.0%
65.8% 69.8%
69.2% 71.0%
73.6%
63.3%
65.0%
64.7%
75.9%
57.4%
69.9%
50.2%
52.6%
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Downtown Fort Worth USA
58.9%
69.2%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
Hotel Occupancy Rate
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Hos
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ty
state of downtown fort worth 201342
Forth 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 2013 by Hotel Rooms Reserved Downtown Fort Worth
NAme Rooms ReseRveD
Texas High School Coaches Association
2,236
Premier Designs, Inc 2,134National Association of Counties 1,925AdvoCare 1,848Army Aviation Association of America
1,846
Texas Library Association 1,687National Art Education Association
1,238
Texas Emergency Medical Services 1,150Texas Association of School Boards
1,103
RadioShack Corporation 1,100Source: Fort Worth Convention & Visitors Bureau
Revenue Per Available Room (RevPar)
$85.62
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Downtown Fort Worth USA
$100.51
$130.54
$96.90
$118.74
$99.78 $100.87
$110.20
$102.74
$127.31
$103.94
$74.38
$0
$20
$40
$60
$80
$100
$120
$140
$53.98
$63.02
$70.41 $70.25 $70.35$77.73 $79.74 $77.62
$70.39$73.48
$61.80
$54.65
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Tra
vel R
esea
rch
43
2013201220112010200920082007
Downtown Fort Worth USA
$50
$70
$90
$110
$130
$150
$170
$190
$103.17
$105.10
$106.41 $97.34
$98.16
$102.00
$106.90
$155.44
$164.29
$152.62
$145.52
$164.83
$145.62
$158.25
Average Daily Hotel Room Rate (RevPar)
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state of downtown fort worth 2013
state of downtown fort worth 201344
Ret
ail
Downtown has it all! Dinner, drinks, dancing, shopping, theater and more!Downtown Fort Worth is well known for its dining and entertainment experience. More than
60 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 95.9% average retail occupancy since 2006, soft goods retail is now taking hold.
Downtown has experienced a 28.2% growth in clothing store sales since 2006. Several new
retail stores and restaurants have opened in Downtown, including Del Frisco’s Grille, Jamba Juice, Jimmy
John’s Gourmet Sandwiches, Little Red Wasp, RadioShack, Silver Leaf Cigar Bar, Taco Diner, The Bird Café
and The Brass Tap.
New retail opportunities are forthcoming at the recently completed Sundance Square Plaza project
and One City Place remodel, which together added more than 50,000 square feet of retail space in 2013.
$95 MILLION annual sales for full- service Downtown restaurants
$49 MILLION in mixed beverage sales for 2013
Spending by Downtown Residents in Downtown$19+ MILLION annual spending by residents on retail and restaurants in Downtown
3.2+ monthly visits to Downtown retailers
$70 average spent per retail visit
7.2 average monthly visits to Downtown restaurants
$63 average spending per restaurant visit
45
As the 12th-largest economy in the world, the Texas economy continues to fare better than those of 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 2012 (YTD-Sept) totaled more than $279.7 billion, an increase of 5.4% over 2012 and well ahead of overall U.S. exports in 2012, which grew 2.1 percent.
Texas’ top exporting industries in 2012 were petroleum and coal products, chemicals, computer and electronic products, non-electrical machinery and transportation equipment. Mexico, Canada, Brazil, China, Netherlands and South Korea imported $101 billion, $25.9 billion, $10.8 billion, $10.7 billion, $9.6 billion and $7.9 billion in Texas goods, respectively.
97.4% 98.0%
92.7%
95.0% 94.3%
91.2% 91.2% 92.0%
88.1%
92.8% 93.1% 93.2% 92.6% 92.7%
93.3%
80%
85%
90%
95%
100% USADFWDowntown Fort Worth
4Q 2012 4Q 20134Q 20114Q 20104Q 2009
Retail Occupancy Rate
Sour
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oSta
r
Downtown Fort Worth Private-Sector Employees, Businesses and Payroll
Total Downtown private-sector employees 35,907
Annual payroll $2,689,635,000Average payroll per employee $74,906Number of business establishments 1,468
Source: U.S. Census Bureau 2011
state of downtown fort worth 2013
state of downtown fort worth 201346
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
95.6%
91.2%
97.0%
92.3%
93.7%
88.5%
95.3%
94.6%
94.4%
91.8%
95.0%
92.6%
86.3%
93.7%
94.9%
93.8%
84.6%
$0 $5 $10 $15 $20 $25 $30 $35
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
$19.90
$17.73
$30.30
$9.91
$26.97
$14.30
$23.94
$17.22
$10.98
$15.71
$14.89
$22.69
$16.83
$7.98
$13.45
$15.22
$14.32
Retail Occupancy Rates for Submarkets in the Dallas-Fort Worth Metropolitan Area Fourth Quarter 2013
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
95.6%
91.2%
97.0%
92.3%
93.7%
88.5%
95.3%
94.6%
94.4%
91.8%
95.0%
92.6%
86.3%
93.7%
94.9%
93.8%
84.6%
$0 $5 $10 $15 $20 $25 $30 $35
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
$19.90
$17.73
$30.30
$9.91
$26.97
$14.30
$23.94
$17.22
$10.98
$15.71
$14.89
$22.69
$16.83
$7.98
$13.45
$15.22
$14.32
Retail Rental Rates ($/SF) for Submarkets in the Dallas-Fort Worth Metropolitan Area Fourth Quarter 2013
Sour
ce: C
oSta
r
47state of downtown fort worth 2013
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 2013201120102009200820072006
$58.0 $61.6
$68.9 $70.2
$76.6 $79.2
$82.7
$69.9 $67.1
$71.4 $68.2 $70.3
$76.5
NA
Millions
$78.8
$80.5
Sour
ce: T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
Full-Service Restaurants Gross Sales
$0
$5
$10
$15
$20
$25
$30
$35
$40
$45
$50
2012 2013201120102009200820072006
NA
Millions
$35.5
$39.2
$44.2 $41.9 $41.3
$46.6 $49.1
$37.5
$42.5 $44.6
$39.8 $40.0
$45.2 $46.6 $46.3
July-DecemberJanuary-June
Sour
ce: T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
state of downtown fort worth 201348
Ret
ail
Household Income 2012 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 2012 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 2012 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
49state of downtown fort worth 2013
Drive Time Demographics Downtown Fort Worth
Drive Time Demographics 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 201350
Ret
ail
Mixed-Beverage Gross Sales Downtown Fort Worth
Sour
ce: T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
$35,241,538
$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
$50
2006 2007 2008 2009 2010 2011 2012 2013
Millions
Clothing Stores Gross Sales Downtown Fort Worth
Sour
ce: T
exas
Com
ptro
ller o
f Pub
lic A
ccou
nts
$2.8
$0
$1
$2
$3
2012 201320112010200920082007
NA
Millions
$2.4 $2.3
$2.1
$2.4
$2.6
$2.4
$2.8
$2.3 $2.4
$2.6
$2.2 $2.3
July-DecemberJanuary-June
51state of downtown fort worth 2013
Gross Sales All Industries Dollars Per Square MileMARkeT 2011 2012
76102 Downtown Fort Worth $760,064,974 $670,514,791
76104 Near Southside $178,836,645 $181,160,71076107 Cultural District $197,370,947 $209,629,178Fort Worth $106,745,059 $112,067,584Source: Texas Comptroller of Public Accounts
52
Qu
ali
ty o
f L
ife
Livability.com ranks Downtown Fort Worth as the #1 Downtown in the U.S.!Fort Worth has also been recognized for its outstanding quality of life and is currently ranked as one
of the nation’s top 10 most livable cities by Partners for Livable Communities. Nowhere is our excellent
quality of life more apparent than in our center city, where education, entertainment and other
amenities are abundant.
state of downtown fort worth 2013
53state of downtown fort worth 2013
Entertainment Venues Downtown Fort Worth
VeNue AVAiLAbLe seAts
Fort Worth Convention Center (Arena Seating)
10,418
Bass Performance Hall 2,056AMC Sundance 11 1,850Four Day Weekend 212Jubilee Theatre 147Circle Theatre 125Source: Downtown Fort Worth, Inc. survey
Entertainment296,000+ arts venue attendance
Parks/Recreation385 acres of park land servicing Downtown
Access to 40 miles of trails
3,290 free night and weekend parking spaces
412,000+ items in circulation at the Central Library
6 Childcare Centers
state of downtown fort worth 201354
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, planning assistance, sidewalk cleaning, street sweeping, security enhancement, and litter removal. 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 property value and 80% of land area in the District.
Downtown Fort Worth Improvement District #14 was established in June 2009. Since then, District staff members have provided sidewalk maintenance along Samuels Avenue on Sundays, as well as weekly supplemental trash collection.
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
$12,266,366 budgeted revenue/expenses of PiD #1 since its re-establishment in 2009.
$37,741,102 budgeted revenue/expenses for the life of PiD #1 since its creation in 1987
$1,165,330 in maintenance services annually
546,000 pounds of dirt/debris removed from streets, curbs and gutters annually
616 cubic yards of trash removed annually
190 trash cans serviced
2,912 miles of curb and gutter cleaning annually/ 51 miles weekly
15,660 linear miles of sidewalks cleaned annually
146 Downtown trees lighted and maintained
17 full-time clean-team members
11,000 square feet of planters in seasonal bloom
x10
55state of downtown fort worth 2013
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, Fort Worth Independent School District, Tarrant County, Tarrant County Hospital District, Tarrant County College District, and Tarrant Regional Water District.
To date, the TIF has obligated $69 million, leveraging $483 million in private development and facilitating $41 million in public investment. The updated TIF Project and Financing Plan, adopted in 2013, is projected to return between $4.4 million and $4.9 million of tax increment to the taxing district partners each year from 2014 to 2017. This amount is in excess of the annual revenues to the TIF, which are projected at $4.3 million to $4.8 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
$44.75
$19.19
$593.63
$0
$100
$200
$300
$400
$500
$600
$700
$800
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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
City's TIF Contribution TIF Costs Investments Tax Increment
$524.25
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 201356
Ed
uca
tion
10,757 higher education students Downtown in 2013
= potential customers
= future workforce
= potential residents
Downtown higher education enrollment grew by 1,447% in 11 years
2003 695
2013 10,757
From Pre-K to MBA, Downtown is the place to learn!
Higher Education Fall Semester Enrollment Downtown Fort Worth
Number of students enrolled in higher education campuses in Downtown increased by 58.5% since 2009.770
1,000
0
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
20122011 201320102009
0
100
200
300
400
500
600
700
800
900
1,000
2012 2013201120102009
0
1,800
1,600
1,400
1,200
1,000
800
600
400
200
2012 2013201120102009
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
4,797 5,459
7,237
8,410 8,849
1,209
1,581 1,590 1,564
1,138
780 768 730 738
57state of downtown fort worth 2013
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
2013 – 2014 ENroLLMENT
Bright Horizons Montessori at Sundance Square 75St. Paul Lutheran School 225Young Women's Leadership Academy 270Nash Elementary School 272Texas A&M School of Law 770University of Texas at Arlington, Fort Worth Center 1,138Tarrant County College, Trinity River Campus 8,849Source: Downtown Fort Worth, Inc. Survey of Downtown Education Institutions
11,599 students
in 2013.
Tra
nsp
orta
tion
58
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” that offers rides at no cost to anyone traveling within the central
business district.
Downtown is also fortunate to have 3,290 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 among 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 closest parking options to their destinations.
state of downtown fort worth 2013
59state of downtown fort worth 2013
31% increase in bus ridership since 2004
404,403 Downtown riders for the Trinity Railway Express (2013)
404,648 Molly the Trolley ridership since inception (May 2009)
14 Bike Share stations added to Downtown in 2013
3,122,760 Calories Burned on 19,791 trips taken using Fort Worth’s Bike Share bicycles in the first 9 months of the program
596,000+ Average daily traffic count on Downtown highways
Meacham International Airport, North Texas’s premier general aviation facility, is just 5 miles from Downtown
Dallas-Fort Worth International Airport • 17 miles from Downtown • 60+ MILLION passengers
in 2013 • Approximately 158,000+
passengers daily • 148 domestic nonstop
destinations • 56 international destinations • 23 carriers • Every major city in the
continental United States can be accessed within four hours
fourhours
Tra
nsp
orta
tion
state of downtown fort worth 201360
COMING
2017TexRail Commuter
Rail System
Trinity Railway Express Ridership Fiscal Years 2002 – 2013
3.99
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
20122011201020092008200720062005200420032002 2013
2.13
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
20112010200920082007200620052004200320022001 2012
376 381
422 438
460 454 481 491 498
532
571 596
Millions
3.00
3.50
4.00
4.50
5.00
5.50
6.00
201220112010200920082007200620052004 2013 147,000
143,000
147,000
144,000
137,000
143,000
141,000
164,000
151,000
155,000
175,000
168,000
163,000
177,000
102,000
101,000
106,000
102,000
106,000
112,000
106,000
52,000
67,000
63,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2005
2006
2007
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
SH 287 SH 121 I-35W I-30
5.21
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.
61state of downtown fort worth 2013
3.99
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
20122011201020092008200720062005200420032002 2013
2.13
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
20112010200920082007200620052004200320022001 2012
376 381
422 438
460 454 481 491 498
532
571 596
Millions
3.00
3.50
4.00
4.50
5.00
5.50
6.00
201220112010200920082007200620052004 2013 147,000
143,000
147,000
144,000
137,000
143,000
141,000
164,000
151,000
155,000
175,000
168,000
163,000
177,000
102,000
101,000
106,000
102,000
106,000
112,000
106,000
52,000
67,000
63,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2005
2006
2007
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
SH 287 SH 121 I-35W I-30
5.21
4.39
4.83
3.99
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
20122011201020092008200720062005200420032002 2013
2.13
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
20112010200920082007200620052004200320022001 2012
376 381
422 438
460 454 481 491 498
532
571 596
Millions
3.00
3.50
4.00
4.50
5.00
5.50
6.00
201220112010200920082007200620052004 2013 147,000
143,000
147,000
144,000
137,000
143,000
141,000
164,000
151,000
155,000
175,000
168,000
163,000
177,000
102,000
101,000
106,000
102,000
106,000
112,000
106,000
52,000
67,000
63,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2005
2006
2007
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
SH 287 SH 121 I-35W I-30
5.21
4.39
4.83
Annual Ridership for Bus Routes Serving Downtown Fort Worth 2004 – 2013
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 201362
*Zip
cod
e 78
701
is u
sed
for d
ownt
own
Aust
in,
7520
1 &
752
02 a
re u
sed
for D
alla
s.
Sour
ce: U
S Ce
nsus
Bur
eau
15.0%
20.0%
25.0% 23.4%
60.1%
92.7%
1.2%
8.9%
4.0%
79.1%
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
13.6%
DowntownDallas*
4.2%
DowntownAustin*
5.5%
DowntownDallas*
72.3%
DowntownDallas*
Means of Transportation to Work: Car, Truck or Van
*Zip
cod
e 78
701
is u
sed
for d
ownt
own
Aust
in,
7520
1 &
752
02 a
re u
sed
for D
alla
s.
Sour
ce: U
S Ce
nsus
Bur
eau
Means of Transportation to Work: Public Transportation
15.0%
20.0%
25.0% 23.4%
60.1%
92.7%
1.2%
8.9%
4.0%
79.1%
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
13.6%
DowntownDallas*
4.2%
DowntownAustin*
5.5%
DowntownDallas*
72.3%
DowntownDallas*
*Zip
cod
e 78
701
is u
sed
for d
ownt
own
Aust
in,
7520
1 &
752
02 a
re u
sed
for D
alla
s.
Sour
ce: U
S Ce
nsus
Bur
eau
Means of Transportation to Work: Walk or Bike
15.0%
20.0%
25.0% 23.4%
60.1%
92.7%
1.2%
8.9%
4.0%
79.1%
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
13.6%
DowntownDallas*
4.2%
DowntownAustin*
5.5%
DowntownDallas*
72.3%
DowntownDallas*
63state of downtown fort worth 2013
Downtown Parking Availability
Parking spaces 41,911
Parking meters 2,400
Free evening and weekend parking spaces
2,826
Free daytime 1-hour parking spaces
300
Free daytime 2½-hour spaces with validation
164
Source: Downtown Fort Worth, Inc.
3.99
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
20122011201020092008200720062005200420032002 2013
2.13
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
20112010200920082007200620052004200320022001 2012
376 381
422 438
460 454 481 491 498
532
571 596
Millions
3.00
3.50
4.00
4.50
5.00
5.50
6.00
201220112010200920082007200620052004 2013 147,000
143,000
147,000
144,000
137,000
143,000
141,000
164,000
151,000
155,000
175,000
168,000
163,000
177,000
102,000
101,000
106,000
102,000
106,000
112,000
106,000
52,000
67,000
63,000
58,000
61,000
59,000
67,000
0 50,000 100,000 150,000 200,000
2005
2006
2007
2008
2009
2010
2011
2012
147,000 174,000
107,000 67,000
SH 287 SH 121 I-35W I-30
5.21
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
64
PID
Ad
viso
ry B
oard
64
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 Flowers to Go in Sundance Square
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
David D. Parker AT&T
Sabrina Carter Starpoint Commercial Properties, LLC
T. Pollard Rogers Cantey & Hanger, L.L.P.
Heather Scoggins Chesapeake Energy Corporation
Tom L. Struhs Struhs Construction
Jed Wagenknecht Downtown Fort Worth Blackstone Courtyard Marriott
Joy Webster MorningStar Capital
state of downtown fort worth 2013
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 CNN-Money 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 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 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
Todd Holzaepfel, Ph.D. Vice President/PID Manager
Cleshia Butler Administrative Assistant
Jay Downie Event Producer
Becky Fetty Director of Membership and Marketing
Brandi Huckabee Program and Production Manager Accounting Assistant
ani Jarrett Marketing and Project Manager
Jim Johnson, Ph.D. Director of Downtown Development/TIF District
Melissa Konur Director of Planning
Melanie Lara 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”
Lori Poe Research Consultant Convention and Visitors Bureau
Susan White City of Fort Worth Planning and Development Department
Special thanks to Blackstone Courtyard Downtown Fort Worth, Brian Hutson, Brian Luenser, Bright Horizons Montessori at Sundance Square, Denise Cook, Fort Worth Central Library, Geno Loro, Jeffrey Stvan, Lincoln Property Company, RadioShack, Sundance Square, Tarrant County College, Texas A&M University School of Law, UNT Health Science Center (UNTHSC) and UTA Fort Worth Center for their photography. Cover: Geno Loro. Back cover: Brian Luenser.
PMS 286
777 Taylor Street, Suite 100
Fort Worth, Texas 76102
817.870.1692 | www.dfwi.org