Commercial Real Estate

CRE Opinion: Building Bridges: You Can’t Have DFW Without Fort Worth

With new developments and infrastructure projects, Fort Worth has put itself on the real estate map in a big way.

David Walters of CBRE

I’m not sure what started it. Why did Amon Carter, the legendary Fort Worth civic booster, promoter, and benefactor, famously boast about having to pack a sack lunch when traveling to Dallas? Did he get a bad meal? Was someone rude? I know he could afford to pay. I guess some mysteries will remain unsolved.

In an effort to build bridges between Fort Worth and Dallas, I from the West to let you know we are building a lot of things over here, including a few bridges. Also know that I have spent considerable time and resources in many of Dallas’ finest establishments.

While each of our cities may have their own unique identities and personalities, our real estate development DNA confirms we come from the same lineage. Fort Worth is doing its best to make sure the region’s growth is not one-sided. Like Dallas, we have big dreams and designs for tremendous growth. Some of the highlights include:

  • Fort Worth’s population has grown 60 percent since 2000, making us the 16th largest city in the U.S., and the fastest growing of the 20 largest cities in the country, according to the U.S. Census Bureau. By 2040, our population is expected to more than double.
  • Our future growth will not be constrained by lack of land as Fort Worth has more than 70,000 acres available for future development, exponentially more than any other city in North Texas. Future residential neighborhoods are underway at a breakneck pace along the Chisholm Trail Parkway running south, along Interstate 30 heading west (Walsh and Morningstar) and north on the Interstate 35W corridor heading to AllianceTexas. Numerous infill projects are being planned or are underway at Clearfork, Panther Island and the Fort Worth Stockyards.
  • We love big infrastructure projects like the soon-to-finish North Interstate 35W connector and the Trinity River Vision Project, which is connecting our city and neighborhoods to the once-forgotten Trinity River. This is where the aforementioned bridge building is taking place.
  • Like Dallas, we are building new office buildings in our central business district, like 260,000 square feet at Frost Tower, and three buildings at Clearfork, totaling more than 330,000 square feet.
  • With the confluence of great transportation options (roads, rail and air), Fort Worth continues to be an industrial powerhouse. More than 5 million square feet of new industrial projects in north and south Fort Worth are underway with many more in the planning stages.
  • Without getting misty-eyed, I will miss our past of being an eclectic collection of regional and local so-called mom and pop retailers. Rumor has it that many of the world’s great retailers discovered we have some disposable income, thus the creation of Clearfork and Waterside’s retail. More than 1 million square feet of future retail and restaurant projects are under construction.

This is just the tip of the iceberg. We haven’t even discussed Fort Worth’s explosive growth in multifamily, hospitality, medical, higher education…You get the picture. I invite you to come see for yourself. Remember, bring your lunch money. Sack lunches are not a requirement.

David Walters is a Senior Vice President with CBRE in Fort Worth.

 

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