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Downtown Fort Worth, Inc. Releases 2014 "State of Downtown" Report

May 12,2015

Downtown Fort Worth, Inc. has released its 2014 State of Downtown Report, a yearly publication that offers in-depth analysis of Downtown's primary real estate performance indicators and economic, social and education data.

According to data from the report, Downtown has maintained a 95.5% average retail occupancy rate and experienced a 50.5% increase in clothing store sales since 2006. Findings from the report also indicate a growing demand for Downtown housing. Apartment occupancy remained above 94% for the year, while inventory grew by 11.6% with the addition of 262 units. More than 1,314 new rental units are currently planned or under construction.

Downtown Fort Worth is the largest employment center in Tarrant County generating over $2.9 billion in private payroll with more than 46,000 jobs.

"Downtown's 2014 performance in retail, hospitality, multifamily and condominiums continues recent positive trends. High occupancies and increasing prices suggest fertile ground for new development," said DFWI Researcher, Arrie Mitchell.

"Downtown's success is radiating out from the center," said Jack Clark, President at Red Oak Realty and DFWI Chairman. "Activity on the Samuels Avenue corridor, Lancaster, Forest Park and soon on Commerce Street near the convention center is an indication that downtown's market appeal is spreading in all directions as developers capitalize on opportunity in all of downtown's real estate sectors."

The State of Downtown is produced by Downtown Fort Worth, Inc. (DFWI) and Fort Worth Public Improvement District #1 (PID) to help communicate the underlying economic trends shaping our center city. The data is compiled throughout the year by Arrie Mitchell, DFWI's Director of Research.