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Development
Dallas

Sizing up downtown Fort Worth’s $2B development pipeline

Upcoming projects include the first residential high-rise to be built in 30 years

(Getty)
(Getty)

Downtown Fort Worth has about $2 billion worth of hotel and apartment developments in the pipeline.

Many of these projects were delayed due to the pandemic, but now nearly all are expected to be finished over the next seven years. Upon completion, they’ll add about 3,000 multifamily units and almost 2,000 hotel rooms to the area.

The Dallas Business Journal recently tallied up the biggest hotel and apartment projects coming to downtown Fort Worth — those above 300 units for residential and above 150 rooms for hospitality.

Starting with the biggest price tag, the Fort Worth Convention Center is expected to finish its $400 million expansion by 2026. The project, which includes a new 1,000-room hotel, was largely funded with federal funds from the American Rescue Plan Act.

There are two other hospitality developments nearby. The first is the $217 million expansion to the Omni Fort Worth Hotel. After being sidelined completely during the pandemic, it looks like the 400-room addition will deliver in 2026. The other is the upcoming Le Meridien Downtown Fort Worth, costing about $47 million. Expected by 2024, the Commerce Street hotel will offer a total 189 rooms.

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Also on Commerce Street is the Deco 969 high-rise. After a grand announcement last November as the first residential high rise in Fort Worth in three decades, the 27-story tower is fully underway. Southern Land Company, which spent about 12 years looking for a site for this development, has not released an expected completion date for the $140 million project.

Catalyst Urban Development says its $50 million Burnett Lofts will deliver its 330 multifamily units by the end of this year. The Grayson on 4th — costing about $43 million — is also expected to finish this year.

Other residential developments include the $34 million 7th and Henderson at 1003 West 5th Street, which will total 310 multifamily units on build-out. The completion date for the project is unknown. There’s also The Jones, costing $45 million, and the $54 million Weatherford Street Apartments. Both are set to bring more than 400 multifamily units each upon completion.

Finally, the Sandman Signature Fort Worth is currently under construction on the site of the historic W.T. Waggoner Building. The $16 million project will total 245 rooms and is expected to be delivered next year. In 2019, the city of Fort Worth approved $8 million in incentives for Dallas Stars’ owner Tom Gaglardi for the development.

— Maddy Sperling

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DevelopmentDFW