PHOTOS: Inside Deco 969, downtown Fort Worth’s new apartment tower with $14K penthouses
July 18,2024
See full Fort Worth Star-Telegram article by Kate Marijolovic here.
Entering the new Deco 969 apartment tower from the parking garage, visitors are greeted by a golden colored elevator.
Yes, gold.
The opulent elevator whisks tenants or guests up the 27-story tower, the first new residential high-rise to join the downtown Fort Worth skyline in more than 30 years.
Now the ninth tallest building in Fort Worth, the apartment tower opened this spring at 969 Commerce St. with 302 units and and eight floors of parking. One-, two- and three-bedroom units are available, along with penthouses.
The Star-Telegram got a look inside the property this week. Each unit features a balcony, quartz countertops, a walk-in closet with built-in wood shelving, and floor-to-ceiling windows with views of downtown. Modern finishings include smart thermostats, chrome fixtures, lighted bathroom mirrors and two-toned, soft-close kitchen cabinets.
Amenity spaces throughout the building are punctuated by artsy light fixtures, patterned tile, parquet floors and bold furniture complimenting the building’s art deco motif.
Resort-style amenities include a demonstration kitchen, pet spa, an outdoor lounge with a turf lawn and fireplace, and a fitness room stocked with Peloton bikes and an interactive Echelon mirror. There’s also a heated outdoor pool on the 24th floor with a 180-inch screen and a lounge. Three bars are located throughout the building — in the lobby, the demonstration kitchen and the outdoor lounge. Deco 969 provides residents with concierge service and dry cleaning delivery.
Broadway 10 Bar & Chophouse will be opening an 8,500-square-foot restaurant on Deco’s first floor in early 2025.
Views from the sky-high outdoor lounges are undeniably spectacular. Neighboring the Fort Worth Convention Center, General Worth Square and privately owned parking lots, most of Deco’s residents will likely keep those expansive views without obstructions for years.
According to Deco 969’s floor plans and pricing, a 684-square-foot, one-bedroom unit starts at $2,180 per month. The building’s largest remaining units — two 2,793-square-foot penthouses — have a starting rents of $13,969 per month. The property is offering a leasing special of up to two months free on certain units.
Developed by Nashville-based Southern Land Company, Deco 969 has been in the works for years. The project is seen as a bellwether for the viability of future downtown luxury housing, a largely untested market for the city.
Founder and CEO of Southern Land Co. Tim Downey said he began searching for a location for multifamily housing in downtown Fort Worth in 2007, but most owners of vacant land weren’t interested in selling. He also said it was difficult to get financing for Deco 969, due to a lack of comparable properties. Plans for the building were first filed in March 2019, and construction began in October 2021.
Downey said numerous developers have reached out to him, curious about Deco’s success. Plans for more upscale downtown housing have been announced, though no projects have broken ground.
Dart Interests LLC bought the Fort Worth Central Library in 2023 for $18 million and announced plans for a mixed-use tower on the site. It is unclear when construction might begin.
Pre-leasing for Deco 969 started in February, and in April, tenants began moving in. Some early residents moved in without seeing the property in person.
Downey said 16% of the building has been leased, and interest in the property has come mostly from locals. Southern Land’s goal is to lease 18 units a month; Downey says the company is slightly exceeding that volume. The company hasn’t started heavily marketing the property, he said, so interest has come mostly from social media and walk-in visits.
“The benefit of buildings like this is they attract everybody,” Downey said.
Downey said similar buildings’ residents are typically 60% to 65% women when fully leased.
The project cost roughly $200 million, according to Downey, who added that Southern Land has no plans to sell the building, even when it is fully leased.
The rental rate is about $3.25 per square-foot, which Downey said is high for Fort Worth but normal for a Dallas high-rise.
“I’m not concerned about people wanting to live in this building, we can lease them all up tomorrow. It’s more about rate, right? Can we get the rate, the rental rate that we want to be? And so far, so good,” Downey said.
A grand opening event for Deco 969 on Wednesday was attended by community leaders and project stakeholders, including Downey, Mayor Mattie Parker, City Council member Elizabeth Beck, Downtown Fort Worth Inc.’s president Andy Taft and Tarrant County commissioner Roy Brooks. Many said they were excited for more residents to join downtown.
“This development is not only a magnificent addition to our skyline, it’s an outstanding economic development project, but let’s not forget that what we have built here is homes— homes for people who want to live, work and play in our downtown neighborhood,” Brooks said in his remarks.
Downey hopes Deco 969 inspires more residential projects downtown. He said he’s proud his building is an indicator of the local luxury market, though he said it can be intimidating. Still, his faith in the project is unwavering.
“I am 100% sure it will work out fine. I don’t know if it’ll work out fine exactly on my timeline, but you know, we have a very long term view and it’ll all be great,” he said.
Location Mentioned: Deco 969