FORT WORTH — Downtown Fort Worth, Inc. has released its 2013 State of Downtown Report, a yearly publication that offers in-depth analysis of Downtown’s leading performance indicators including economic, social and education segments.
“This is an exciting time for our center city. The amount of investment we are seeing in Downtown is evidence that office users, hospitality professionals, residents and others find Downtown more attractive than ever,” said Johnny Campbell, President and CEO at Sundance Square.
According to data from the report, Downtown increased its Class A office space inventory by 8.5% in 2013. Findings from the report also indicate a growing demand for Downtown housing. The average “days on the market” for owner occupied units in Downtown decreased by 55%. Rental units in Downtown maintained an average occupancy of 95%. More than 1,258 new rental units are currently planned or under construction, testimony to the thriving workplace, lifestyle and hospitality offerings in Downtown.
With more than 44,000 jobs generating over $2.6 billion in private payroll, Downtown Fort Worth is the largest employment center in Tarrant County.
“Meeting demand for quality housing in Downtown Fort Worth is an important component for attracting new commerce to Downtown, so it is exciting to see so many housing developments in progress,” said DFWI Research Director,Arrie Mitchell.
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.
To download the 2013 State of Downtown report, visit www.dfwi.org.
