Downtown Fort Worth in 'extraordinary post-COVID recovery'
February 14,2023
See full KRLD Radio article by Alan Scaia here.
Downtown Fort Worth Inc. said some parts of the area's economy have now surged beyond levels from before the pandemic. The organization released its annual "State of Downtown" report Tuesday.
"All of downtown's primary land uses are accelerating: residential, office, restaurant and retail, entertainment, hospitality," said Downtown Fort Worth Inc. President Andy Taft.
The organization says 8,685 people now live in Downtown Fort Worth, and 3,257 additional apartments, condos and townhomes are planned or under construction. Downtown Fort Worth Inc says 90% of apartments are occupied, "significantly above its pre-pandemic level of 73% in Q1 2019."
Of those residents, 41% are younger than 40. The percentage of residents with a bachelor's or graduate degree are both higher than the national average.
The area has 13.6 million square feet of office space, and offices are at 88% occupancy.
In addition to new office and residential space, Texas A&M has started construction on its $300 million expansion. A $400 million expansion of the convention center is also planned.
The expansion of the convention center will straighten Commerce Street and add a hotel with at least 600 rooms.
Location Mentioned: Texas A&M University School of Law