Downtown Fort Worth, Inc. State of Downtown by Downtown Fort Worth, Inc.

STATE of DOWNTOWN

2023

FOREWORD

The 2023 State of Downtown finds Fort Worth's center city in a continued state of rapid advancement.

Five significant factors lead the charge into the future:

1. Texas A&M University's $150M expansion features a new education building that promotes advanced coursework and industry collaboration with more construction planned.

2 The Fort Worth Convention Center's $700M upgrade enhances functionality with more exhibit and ballroom space; it also includes the realignment of Commerce Street and sets the stage for a new hotel.

3. City Hall's relocation to the Pier 1 building in Q1 2024 will boost development west of Henderson, leveraging opportunities in the hospitality, residential, education, office, and healthcare sectors.

4. Butler Place, a 42-acre site, is poised for mixed-use redevelopment.

5. The 2024 Panther Island refresh will create a platform for thoughtful public decision-making.

While Downtown is still seeing a lagging post-COVID return-to-work rate among office users, the other indicators found in this state of Downtown paint a picture of robust growth, high occupancy rates, increasing rental rates, and a host of market opportunities across multiple user groups.

If you would like more information about Downtown Fort Worth, contact Shane Smith at shane@dfwi.org

Shane Smith Director of Research Larry Auth Public Improvement District Board Chairman Cover Photo: Deco 969, Brian Luenser

OF CONTENTS Year in Review 2 Off ice and Employment 12 Population and Housing 24 Hospitality 38 Retail .............................................................................. 42 Quality of Life 44 Education 48 Transportation.........................................................50 PID Advisory Board 58

TABLE

ABOUT US

DFWI’s Mission

The mission of Downtown Fort Worth, Inc. is to be the catalyst for transforming Downtown into a vibrant place to live, visit, enjoy, and conduct business through aggressive leadership of programs, projects, and partnerships.

Who We Are

Formed in 1981, DFWI is Downtown Fort Worth’s planning, advocacy, public space, and project management organization. DFWI also builds Downtown Fort Worth’s vitality by serving as a liaison, ombudsman, and information source for property owners, residents, business owners, lenders, developers, community organizations, and policymakers. DFWI is a 501(c)(6) nonprofit membership organization.

What We Do

In addition to coordinating the Downtown planning process, advocacy, member services, communications, and Downtown leadership, DFWI members founded the first Public Improvement District (PID) in the state of Texas in 1986. DFWI continues to manage PID #1 and manages PID #14. These PIDs provide enhanced services to property owners, including maintenance and landscaping, public space management, promotions and marketing, research, transportation, planning, and security enhancements to 564 acres of Downtown.

DFWI also administers the Downtown Tax Increment Finance District (TIF) by contract with the City of Fort Worth. Eligible TIF projects include parking, infrastructure assistance to new developments, historic preservation, affordable housing, transportation, and education.

DFWI staffs the Downtown Neighborhood Alliance, an organization of Downtown residents that promotes, preserves, encourages, and enhances residential quality of life in Downtown Fort Worth.

Downtown Fort Worth Initiatives, Inc. (DFWII) is a 501(c)(3) nonprofit corporation that provides a pathway for foundation grants, philanthropic donations, and other contributions to help fund charitable, educational, and public-purpose Downtown projects. DFWII helps bring more than 500,000 people Downtown each year by producting the Main ST. Fort Worth Arts Festival and the GM Financial Parade of Lights. DFWII also developed the JFK Tribute in Fort Worth, redeveloped Burnett Park, and is currently administering the Heritage Park restoration design. DFWII is a partner with Fort Worth Housing Solutions in the 172-unit, mixed income, Jenning’s Place.

1 STATE OF DOWNTOWN FORT WORTH 2023

DOWNTOWN SUMMARY

Office Market

13.4 million square feet of total space

office space is Class A

Residential

Among all U.S. Cities, Fort Worth had the third-highest numeric population increase from 2020–2021

Downtown population: 9,914 residents

910 condos and townhomes

4,808 apartment units

2,442 total multifamily units are in various stages of the construction/planning process

Hospitality

3,707 hotel rooms

16 hotels

1,686 additional rooms are in various stages of the construction/planning process

Planned development includes a 400-room Omni Hotel expansion

253,000 square feet convention center exhibit space

The convention center expansion will add 97,000+ square feet of exhibit hall space, additional flexible meeting rooms, and a new 600,000-square-foot ballroom.

2 STATE OF DOWNTOWN FORT WORTH 2023

YEAR IN REVIEW

43%

Average Class A rent of $34.40 per square foot 89% total office occupancy rate 86% Class A occupancy rate

total

Tourism

19.6 million Downtown visits in 2023

● Sundance Square Plaza

● Sid Richardson Museum

● JFK Tribute in Fort Worth

● Panther Island Beach

● Bass Performance Hall

● Jubilee Theatre

● Circle Theatre

● Water Gardens

● Burnett Park

●

Transportation

2,562 free metered parking spaces after 6 p.m. & 3,311 free garage parking spaces provided by the TIF after 6 p.m. and on weekends

College Campuses

University of Texas at Arlington Fort Worth

Tarrant County College

Texas A&M University School of Law

Texas A&M Fort Worth campus (under construction)

3 STATE OF DOWNTOWN FORT WORTH 2023

15 Downtown

Bike Sharing

Trinity Railway Express connects Downtown Fort Worth Central Station to downtown Dallas Union Station

one hour TEXRail connects Downtown Fort Worth Central Station to the Dallas/Fort Worth International Airport Terminal B Station in one hour 15 bus routes serve Downtown

Fort Worth

stations

Downtown parks Entertainment Venues Downtown Fort Worth VENUE AVAILABLE SEATS Fort Worth Convention Center (Arena Seating) 10,418 Bass Performance Hall 2,056 AMC Palace 9 623 Big Laugh Comedy 400 Hyenas Comedy 340 Four Day Weekend 212 Rooftop Cinema Club 174 Jubilee Theatre 147 Circle Theatre 125

Central Station/T&P Station 10

Big Picture:

Downtown Fort Worth continued to evolve in 2023, further diversifying its offerings as a robust North Texas real estate submarket. Spanning 3.3 square miles, Downtown demonstrated remarkable post-COVID resilience and adaptability amid a rapidly changing economic environment. Office occupancy grew from 86% in 2022 to 89% in 2023.

In response to the evolving demand, older office buildings are being converted into residential developments and hotels. Iconic structures such as the Oncor building and the Bob Simpson building are in the pipeline for conversion.

Dart Interests has acquired the Central Library and is planning to redevelop the two blocks.

Significantly, the start of construction at Texas A&M and the Convention Center marks the beginning of a renaissance in the southeast quadrant of Downtown.

City Hall’s relocation to the Pier 1 building expands the perceived boundaries of Downtown past Henderson Street.

STATE OF DOWNTOWN FORT WORTH 2023

YEAR IN REVIEW

E Lancaster Ave USHwy287 MainStCommerceSt ChisholmTrailPkwy StateHwy121 StateHwy199 I35 W I- 30 Downtown Fort Worth Boundary

5 STATE OF DOWNTOWN FORT WORTH 2023 Fort Worth Population Growth DFW Population Growth 1,000,000 950,000 900,000 850,000 800,000 750,000 700,000 3.5% 2.5% 2.0% 3.0% 1.5% 1.0% 0.5% 0% 2012 2011 2013201420152016201720182019202020212022 Annual Growth RatePopulation 2.3% 8,200,000 8,000,000 7,800,000 7,600,000 7,200,000 6,800,000 6,400,000 7,400,000 7,000,000 6,600,000 6,200,000 2.5% 2.1% 1.7% 1.1% 1.3% 0.7% 1.9% 2.3% 1.5% 0.9% 0.5% 2011201220132014201520162017201820192020 20212022 Population 2.4% Annual Growth Rate

Sources: City of Fort Worth, U.S. Census Source: U.S. Census

Source: CoStar

Office:

Downtown Fort Worth’s office market occupancy continues to climb, underpinned by its substantial Class A inventory. With Class A and B totaling 11.6 million square feet of multitenant inventory, Downtown’s total occupancy has remained at about 89% for two consecutive years, marking the highest level since 2015 and five percentage points above its pre-COVID rates according to CoStar.

The two years with the highest absorption in the last decade were 2021 (467,000 sq ft) and 2023 (457,000 sq ft).

Despite facing a workplace usage and remote work trend accelerated by the pandemic, the Downtown area increased its total employee population by nearly 13% in 2023, nearing 55,000 according to employee data from Placer.ai.

6 STATE OF DOWNTOWN FORT WORTH 2023

YEAR IN REVIEW Total Office Occupancy Rates

Source: CoStar Class A & B Office Occupancy Rates

88% 92% 90% 86% 84% 82% 80% 76% 78% 2014201520162017201820192020202120222023 89% Oil & Gas CollapseCOVID Total Office Occupancy 88% 92% 90% 86% 84% 82% 80% 78% 2014201520162017201820192020202120222023 90%

7 STATE OF DOWNTOWN FORT WORTH 2023 Average Payroll Per Employee Unemployment Rates from 2013-2023 Sources: BLS, LAUS; not seasonally adjusted DFW Texas 14% 12% 10% 8% 6% 4% 2% 0% 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 3.3% 4.1% Source: U.S. Census Bureau, CBP 2021 Payroll ZIP CODE (SUBMARKET) PRIVATE-SECTOR EMPLOYEES PAYROLL 76102 (Downtown) 34,323$3,311,661,000 76104 (Near Southside) 32,631$2,560,712,000 76107 (West Side) 24,804$1,506.850,000 $60,000 $120,000 $100,000 $80,000 $40,000 $20,000 $0 0% 5% 10% 15% 20% 25% 30% Downtown Fort Worth Near Southside West Side % Change from Previous Year 14% 25% 19%

YEAR IN REVIEW

Apartments:

Downtown Fort Worth’s apartment market has experienced significant growth to a total of 4,808 units – an increase of 13% from the previous year. Four apartment developments are actively under construction, adding 837 units to the market. Deco 969, a 27-story high-rise luxury apartment complex, began leasing in March 2024.

Apartment occupancy remains stabilized at 89% as of Q4 2023, significantly exceeding the nine-year average of 80%. Market nuances include a notable deceleration of rental growth rates in 2022 and a drop in rates in Q4. This trend is consistent among the Sun Belt markets, where accelerated development activity strives to match the pace of net population migration. Despite strong multifamily demand in these markets, the occasional surplus in regional supply due to unit delivery results in competitive rent pressure.

Still, the apartment market in Downtown Fort Worth demonstrates solid financial performance, with the market cap rate reaching its five-year peak at 5.8%. As Downtown Fort Worth continues positioning itself as a sought-after residential destination, these trends reflect a healthy blend of growth, quality, and financial viability.

8 STATE OF DOWNTOWN FORT WORTH 2023

Downtown Apartment Vacancy Rate Source: CoStar 30% 25% 20% 15% 10% 5% 0% 450 300 250 350 400 200 150 100 50 0 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 Downtown Net DeliveriesU.S. Vacancy DFW Vacancy Downtown Vacancy Vacancy Rate Net Deliveries

9 STATE OF DOWNTOWN FORT WORTH 2023 Apartment Market Cap Rate Downtown Fort Worth 4% 6% 7% 5% 3% 2% 1% 0% 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4

Source: CoStar

Market Rent Growth, by Market Downtown Fort Worth 20% 15% 10% 5% 0% -5% -10% 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 United States DFW Downtown Fort Worth -5% -1% 1%

YoY Source: CoStar The Huntley

YEAR IN REVIEW

Hospitality:

Downtown Fort Worth’s hospitality market features 3,707 rooms across 15 hotels.

Construction work is underway for 292 hotel rooms. An additional 1,394 rooms are in various stages of planning and design, including the Omni Hotel’s – 400 room, $200M expansion.*

Construction started this year on the expansion of the Fort Worth Convention Center. The entire $700M expansion will add 97,000 square feet of exhibit hall space, additional flexible meeting rooms, and a new 60,000-square-foot ballroom. Twelve-month RevPAR for 2023 increased by 9.5% Year over Year to $121.38, with a 65% occupancy rate for Downtown hotels.

*It should be noted that these statistics are adjusted for the closure of the Sandman Hotel in January of 2024, temporarily reducing the hotel inventory by 235 rooms. Hotel Occupancy Rates Source: CoStar

10 STATE OF DOWNTOWN FORT WORTH 2023

70% 80% 50% 60% 30% 40% 10% 20% 0%

JanFebMarAprMayJunJul Aug SepOct Nov Dec

Downtown Hotel RevPAR 140 160 100 120 60 80 20 40 0 30% 40% 35% 15% 20% 5% 10% -5% 0% -10% RevPAR% change from 2022 JanFebMarAprMayJunJul Aug SepOct Nov Dec Bob Simpson Building

20232022

Source: CoStar

One of Downtown’s strengths is accessibility, including direct access to I-30 and I-35 and the one-hour transit ride to DFW Airport via TEXRail. The TRE also connects Downtown Fort Worth to Downtown Dallas in an hour.

The Alliance Global logistics hub is 20 minutes from Downtown.

Additionally, Downtown is just minutes from the near Southside medical district, the renowned Dickies Arena and Fort Worth’s cultural District. Trinity Metro’s bus route 15 provides convenient access to the Stockyards in just 15 minutes. These factors contribute to Downtown’s appeal as a hub for business and leisure travelers.

Meacham Airport (a full service avaition facility) is just over ten minutes from Downtown.

Source: Trinity Metro Dash Schedule – December 2023 (ridetrinitymetro.org)

Source: Molly The Trolley Schedule – September 2023 (ridetrinitymetro.org)

Local Visitors and Tourism:

11 STATE OF DOWNTOWN FORT WORTH 2023

1.6 2.0 Visits Per Million 0.8 0.4 1.2 1.4 1.8 0.6 1.0 0.2 0.0

Downtown Fort Worth Visits by Month

JanuaryFeburaryMarchApril June May August July October September NovemberDecember

2023 Visits2022 Visits Source: Placer.ai

COMPANIES GET MORE IN DOWNTOWN.

Demand for office space in older buildings has softened nationwide. In the greater DFW market, net absorption of office space was negative 2.5 million square feet, and 90% of that loss was in class B buildings. (Source: CBRE)

Downtown Class A building owners report a positive net absorption of 144,000 square feet.

The Oncor and Bob Simpson buildings are slated for adaptive reuse into apartments and hotels. The removal of these marginally performing older buildings from the office market contributed to the Downtown occupancy rate remaining at 89%.

Furthermore, non-Downtown resident employee data from Placer.ai’s cell phone tracking shows that the total estimate number of private and public employees in 2023 was 54,000, or 90% of 2019’s total. While the return-to-office statistics on any given day are lower, this high employee visitation rate to Downtown suggests a potentially significant nuance worthy of note.

34,323 total private-sector employees

1,424 total number of employers

$3.3 Billion in private payroll

OFFICE AND EMPLOYMENT Source: CoStar STATE OF DOWNTOWN FORT WORTH 2023 12

Source: CBP 2021 92% 90% 86% 82% 78% 88% 84% 80% 76% 2014201520162017201820192020202120222023 89% 82% Office Occupancy Rate Downtown Fort Worth

Class A Office Buildings Source: CoStar 13 Esri Community Maps Contributors, Baylor University, T Parks & Wildlife, © OpenS Building Class A B RBA in SF 2,600 343,276 683,951 1,024,630 0200,000400,000600,000 1,000,000 800,000 1,200,000 100 Energy Frost Tower Two City Place The Carnegie – Sundance Square One City Place Burnett Plaza 777 Main Bank of America Tower – City Center Wells Fargo Tower – City Center The Chase Bank Building – Sundance Square Cantey Hanger Plaza The Westbrook Building – Sundance Square The Cassidy Building – Sundance Square One Hundred Lexington Bldg. The Commerce - Sundance Square Main Place Texas St. Rentable Building Area in SF STATE OF DOWNTOWN FORT WORTH 2023 5,788,581 square feet of Class A office space

National Trend

Nearly one-third of architecture firms are more likely to have experienced an increase in delayed, stalled, or canceled projects since July of 2023. The AIA/Deltek Architecture Billings Index (ABI) ended December with a score below 50 for the fifth consecutive month.

OFFICE AND EMPLOYMENT

Net AbsorptionNet DeliveriesVacancy DFWVacancy U.S. 12,000,000 4,000,000 8,000,000 10,000,000 6,000,000 0 2,000,000 (2,000,000) (4,000,000) 16% 18% 14% 20% 12% 10% 6% 8% 2% 4% 0% 2014201520162017201820192020202120222023 18% 13% Total Square Feet Vacancy Rate DFW Market – Office Space United States – Office Space ABI – National Index

AIA ABI Net AbsorptionNet DeliveriesVacancy 60,000,000 80,O00,000 100,000,000 Total Square Feet Vacancy Rate Total Square Feet Vacancy Rate 20,000,000 40,000,000 (20,000,000) 0 (60,000,000) (40,000,000) (80,000,000) 14% 16% 10% 12% 6% 8% 2% 4% 0% 2014201520162017201820192020202120222023 13% 38,966,655 (57,970,896) Net AbsorptionNet DeliveriesVacancy 1,500,000 500,000 1,000,000 (500,000) 0 (1,000,000) (1,500,000) 30% 35% 25% 15% 20% 5% 10% 0% 2014201520162017201820192020202120222023 29% (1,329,855) (85,149) Design ContractsInquiriesBillings 60 55 500 45 40 30% 35% 25% 15% 20% 5% 10% 0% Dec 22Jan 23Feb 23Mar 23Apr 23May 23Jun 23July 23Aug 23Sep 23Oct 23Nov 23Dec 23 48.4 50.1 44.8 45.4 50.4 STATE OF DOWNTOWN FORT WORTH 2023 14

Source: CoStar

Source: CoStar Source:

Dallas CBD – Office Space Fort Worth CBD – Office Space Source: CoStar Net AbsorptionNet DeliveriesVacancy 60,000,000 80,O00,000 100,000,000 Total Square Feet Vacancy Rate Total Square Feet Vacancy Rate 20,000,000 40,000,000 (20,000,000) 0 (60,000,000) (40,000,000) (80,000,000) 14% 16% 10% 12% 6% 8% 2% 4% 0% 2014201520162017201820192020202120222023 13% 38,966,655 (57,970,896) Net AbsorptionNet DeliveriesVacancy 1,500,000 500,000 1,000,000 (500,000) 0 (1,000,000) (1,500,000) 30% 35% 25% 15% 20% 5% 10% 0% 2014201520162017201820192020202120222023 29% (1,329,855) (85,149) Total Square Feet Vacancy Rate (40,000,000) Net AbsorptionNet DeliveriesVacancy Net AbsorptionNet DeliveriesVacancy 300,000 400,000 500,000 600,000 100,000 200,000 (100,000) 0 (300,000) (200,000) (400,000) 14% 18% 16% 20% 10% 12% 6% 8% 2% 4% 0% 2014201520162017201820192020202120222023 11% 454,851 Source: CoStar 15 STATE OF DOWNTOWN FORT WORTH 2023

Downtown Fort Worth’s decreasing vacancy trend suggests improvement and stabilization in the market.

12 per. mov. avg. 20% 18% 16% 12% 14% 10% 8% 6% 4% 2% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 35% 25% 20% 30% 15% 10% 5% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 25% 20% 15% 10% 5% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 30% 25% 20% 15% 10% 5% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 11% 29% 21% 21% 15% 25% 22.8% 25% 30% 25% 20% 15% 10% 5% 0% 30% 25% 20% 15% 10% 5% 0% 25% 20% 15% 10% 5% 0%

Downtown Fort Worth Dallas Stemmons Freeway

Dallas CBD Dallas West LBJ Freeway

Dallas Central Expressway

OFFICE AND EMPLOYMENT

Metro Area Office Vacancy Rates Source: CoStar –Q1 2023

Frisco/The Colony

Dallas Uptown

Las Colinas

Source: CoStar STATE OF DOWNTOWN FORT WORTH 2023 16

Metro Area Class A Office Vacancy Rates

30% 25% 20% 15% 10% 5% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 40% 35% 25% 20% 30% 15% 10% 5% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 35% 30% 25% 20% 15% 10% 5% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 35% 30% 25% 20% 15% 10% 5% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 25% 20% 15% 10% 5% 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 12 per. mov. avg. 14% 24% 26% 25% 31% 23% 17% 19% 30% 25% 20% 15% 10% 5% 0% 30% 25% 20% 15% 10% 5% 0% 30% 25% 20% 15% 10% 5% 0%

Stemmons

Source: CoStar –Q1 2023

Downtown Fort Worth Dallas

Freeway

Dallas CBD Dallas West LBJ Freeway

Frisco/The Colony

Las Colinas Source: CoStar 17 STATE OF DOWNTOWN FORT WORTH 2023

Dallas Uptown Dallas Central Expressway

Downtown Fort Worth experienced the highest percentage increase in rent for Class A office space from 2022 to 2023 relative to all other metro areas.

OFFICE AND EMPLOYMENT Metro Area Class A & B Office Market Rent ($/SF) Source: CoStar –Q1 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $35 $25 $30 $20 $15 $10 $5 $0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $40 $35 $25 $15 $30 $20 $10 $5 $0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $30 $25 $20 $15 $10 $5 $0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $35 $30 $25 $20 $15 $10 $5 $0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $50 $40 $30 $20 $10 $0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $60 $40 $50 $30 $20 $10 $0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Class AClass B Class AClass B Class AClass B Class AClass B Class AClass B Class AClass B Class AClass B Class AClass B $40 $35 $25 $15 $30 $20 $10 $5 $0 $34 $26 $27 $20 $41 $33 $32 $24 $24 $19 $52 $34 $34 $29 $29 $24 $30 $25 $20 $15 $10 $5 $0 Downtown Fort Worth Dallas Stemmons Freeway

Colony Dallas CBD Dallas West LBJ Freeway

Uptown Dallas Central Expressway

Source: CoStar STATE OF DOWNTOWN FORT WORTH 2023 18

Frisco/The

Dallas

Las Colinas

19 STATE OF DOWNTOWN FORT WORTH 2023 National Office Market Vacancy Q4 2023 National Office Market Rent Q4 2023

Source: CoStar

CoStar $20 $30 $40 $60 $50 $10 $0 Downtown Fort Worth AtlantaAustinBostonChicagoDenverHoustonLos Angeles PhoenixSeattleWashington, DC San Francisco Philadelphia New York 2023 Market Rent SF% Rate Change from Previous Period 11% 23% -1% 1% 1%1% 3% -1% -2% 2% 6% -3% 1% -3% 2023 Vacancy Rate %% Vacancy Change from Previous Period 10% 15% 20% 25% 5% $0 Downtown Fort Worth AtlantaAustinBostonChicagoDenverHoustonLos Angeles PhoenixSeattleWashington, DC San Francisco Philadelphia New York 3% 51% 22% 20% 11% 9% 0% 8% 15% 8% 6% 34% 6% 34%

Source:

OFFICE AND EMPLOYMENT

Unemployment Rates from 2019-2023 Source: Source: BLS,

LAUS; not seasonally adjusted Bexar Harris Tarrant Dallas

2022 unemployment rate % 1% - 3% 4% - 4% 5% - 5% 6% - 7% 8% - 11% STATE OF DOWNTOWN FORT WORTH 2023 20 14% 12% 10% 8% 6% 4% 2% 0% Downtown Fort WorthTexas Jan 2019 Apr 2019 Jul 2019 Oct 2019 Jan 2020 Apr 2020 Jul 2020 Oct 2020 Jan 2021 Apr 2021 Jul 2021 Oct 2021 Jan 2022 Apr 2022 Jul 2022 Oct 2022 Jan 2023 Apr 2023 Jul 2023 Oct 2023

Travis

Counties

Tarrant County Real GDP – Thousands of Chained 2017 Dollars Tarrant County Real GDPTarrant YoY GrowthTexas YoY Growth 125,000,000 130,000,000 115,000,000 120,000,000 105,000,000 110,000,000 100,000,000 8% 10% 4% 6% 0% 2% -4% -2% -6% 2017 2018 2019 2020 2021 2022 County Unemployment Rate % – Labor Force > 1M 0%1%2%3% 5% 4% 6%7% 10% 9% 8% 3.6% Santa Clara County, CA Miami-Dade County, FL Broward County, FL King County, WA Orange County, CA Maricopa County, AZ San Diego County, CA Tarrant County, TX Dallas County, TX San Bernardino County, CA Riverside County, CA Harris County, TX Los Angeles County, CA Cook County, IL Queens County, NY

County, NY

County, NV 21 STATE OF DOWNTOWN FORT WORTH 2023

Kings

Clark

Source: BEA Source: BLS

OFFICE AND EMPLOYMENT Business Profile – Number of Business Establishments per Category Downtown Fort Worth Source: U.S. Census Bureau 2022 CBP 0 50100150 250 200 300350 450 400 Mining, Quarrying, and Oil and Gas Extraction Utilities Construction Manufacturing Wholesale Trade Retail Trade Transportation and Warehousing Information Finance and Insurance Real Estate and Rental and Leasing Management of Companies and Enterprises Professional, Scientific, and Technical Services Administrative and Support and Waste Management and Remediation Services Education Services Healthcare and Social Assistance Arts, Entertainment, and Recreation Accommodation and Food Services Other Services (Except Public Administration) STATE OF DOWNTOWN FORT WORTH 2023 22

Downtown, the Near Southside, and the West Side combined generate $7,379,223,000 in annual payroll. Downtown Fort Worth has the highest number of employees and generates the largest payroll among all the employment centers in the county.

ZIP CODE (SUBMARKET) PRIVATE-SECTOR EMPLOYEES PAYROLL PER EMPLOYEE % CHANGE FROM 2020 76102 (Downtown) 34,323 $96,485 19% 76104 (Near Southside) 32,631 $78,475 14% 76107 (West Side/ Cultural District) 24,804 $60,750 25% $60,000 $120,000 $100,000 $80,000 $40,000 $20,000 $0 Downtown Fort Worth Near Southside West Side

Employee Visits by Day of Week – Yearly Comparison

1,900,000 2,100,000 1,500,000 1,700,000 1,100,000 1,300,000 900,000 Monday Tuesday Wednesday Thursday Friday 202320222019 700,000 500,000 900,000 600,000 800,000 1,000,000 300,000 400,000 100,000 200,000 0 JanuaryFebruaryMarchAprilMayJuneJuly AugustSeptember OctoberNovemberDecember 2023 Employee Visits2022 Employee Visits2019 Employee Visits

Source: U.S.

Census

Bureau 2022 CBP Average Payroll Per Employee in Private Sector

Downtown

Downtown Employee Visits by Month – Yearly Comparison

Source: Placer.ai

23 STATE OF DOWNTOWN FORT WORTH 2023

Source: Placer.ai

LIVING THE DOWNTOWN LIFESTYLE.

The number of multifamily units in Downtown is expected to increase by 18% by the end of 2024. As of Q4 2023, six residential developments are actively under construction, adding 1,048 multifamily units Downtown. These projects will bring the total number of Downtown residential units to 6,924.

Downtown’s multifamily market total consists of 5,876 multifamily units with 2,442 additional units in various stages of the planning process. Notably, Deco 969 is a flagship high-rise apartment development that will be leased with an average price of $3.30 per square foot.

In surveys of Downtown residents, lifestyle is listed as the dominant driver for their location decisions. Education options, civic amenities, park improvements, restaurants, retail, and entertainment options are primary drivers of Downtown quality of life.

24 POPULATION AND HOUSING

STATE OF DOWNTOWN FORT WORTH 2023

Source: CoStar

At a Glance

The 2023 median sales price for condos and townhomes was $335,000.

Source: NTREIS Average apartment market asking rents per square foot have decreased from $1.89 to $1.80 from 2022 to 2023.

Source: CoStar

34% of Downtown residents have a bachelor's degree or higher.

Source: U.S. Census

Median earnings for Downtown postgraduate residents is $86,295.

Source: U.S. Census

25 STATE OF DOWNTOWN FORT WORTH 2023

Total existing residential units: 5,876 Total under construction/planned: 2,442 2023 apartment occupancy rate: 89%, consistent with the 10-year average.

2022 Fort Worth Population growth rate: 2.3%

City of Fort Worth Population and YoY Growth Rate 800,000 980,000 940,000 780,000 760,000 960,000 920,000 880,000 900,000 860,000 840,000 820,000 5% 4% 2% 3% 1% 0% 20152016201720182019202020212022 YoY Growth % Population 918,915 956,709 Source: City of Fort Worth and U.S. Census Downtown's estimated population for 2023 is 9,914 residents. 6,000 4,000 2,000 7,000 5,000 3,000 1,000 0 ApartmentCondoTownhomeSenior Housing Existing Units Under Construction/Planning 2,100 4,808 6 799 36 111 300 158

Source: CoStar

More than 85% of the absorption in Downtown is attributed to the development of Class A apartments.

Downtown's inventory increased by 1,013 Class A apartment units from 2021 to 2023. Although market rent nominally declined for 2023, the overall increase in market prices since 2020 indicates relatively inelastic demand.

Deco 969 is a high-rise apartment development that began leasing in March 2024, with an average rent of $3.30 per square foot.

2,442 total multifamily units are planned or currently under construction for Downtown, a 58% increase over the current inventory.

STATE OF DOWNTOWN FORT WORTH 2023 26

Apartments Absorption, Net Deliveries, and Vacancy Downtown Fort Worth 1,200 1,000 800 400 200 600 0 (200) 35% 25% 20% 30% 15% 10% 5% 0% Net AbsorptionNet DeliveriesVacancy 2014201520162017201820192020202120222023 296 282 11%

Average Apartment Rent Per Square Foot Downtown Fort Worth $1,700 $1,500 $1,300 $1,600 $1,400 $1,200 $1,100 $1,000 $2.00 $1.90 $1.70 $1.50 $1.30 $1.80 $1.40 $1.60 $1.20 $1.10 $1.00

2020 2022 2021 2019 2023 Market Asking rent per SF Market Asking Rent per unit $1,588

POPULATION AND HOUSING

Source: CoStar

20142015201620172018

Source: CoStar

Texas ranked among the top three states for the highest 10-year population growth from 2010–2020. Fort Worth's growth was 14% of the Metroplex growth for the same period.

27 STATE OF DOWNTOWN FORT WORTH 2023 Downtown Residents Full-Time Employment by Industry 0 100200300 500 400 600700 800900 Agriculture, Forestry, Fishing and Hunting, and Mining Construction Manufacturing Wholesale Trade Retail Trade Transportation and Warehousing, and Utilities Information Finance and Insurance, and Real Estate and Rental and Leasing Professional, Scientific, and Management, and Administrative and Waste Management Services Educational Services, and Healthcare and Social Assistance Arts, Entertainment, and Recreation, and Accommodation and Food Services Other Services, Except Public Administration Public Administration 20222021 Source: U..S. Census Bureau 2022 Esri,Garmin,FAO,NO AA,EPA 10 Year Population Change : 2010 - 2020 nal CarsonNational Forest NewMexico Amarillo Lubbock Midland SantaFe Albuquerque RioGrandeWild andScenic River Odessa Torreón Chihuahua Culiacán Rosales Juárez Oklahoma Arkansas Oklahoma City LittleRock Jackson Tulsa Dallas Memphis LowerRio GrandeValley NationalWildlife Refuge Louisiana Texas NewOrleans BatonR ouge Saltillo Houston SanAntonio Monterrey Austin Bexar Harris Tarrant Travis Texas Parks & Wildlife, CONANP, Esri, TomTom, Garmin, FAO, NOAA, USGS, EPA, USFWS Counties YoY % change -31.4% - -0.6% -0.5% - 0.2% 0.3% - 1.2% 1.3% - 24.7%

DFW

The

MSA experienced a 21% population growth from 2010–2020.

Population Growth - source: U.S. Census

DFWI 2023 Downtown Residential Survey Data Findings

DFWI has been conducting residential surveys since 2007 to collect demographic and sentiment data. The purpose of these surveys is to monitor trends in the changing profile of the Downtown population. The survey data in this article was collected in 2023.

The survey instrument was delivered to 3,336 households Downtown using first-class mail. We employed a stratified random sampling method to ensure diverse representation across key demographic strata, with a final sample size of 163 respondents.

Weights were applied to account for sampling biases and nonresponse, making our estimates more representative of the target population. Our findings have a margin of error of 6% at a 90% confidence level.

28 POPULATION AND HOUSING

Source: Downtown Fort Worth, Inc. Residential Survey, 2023

apartment

40 years old Age Distribution by Residence Type Downtown Fort Worth Residents 40% 35% 25% 20% 30% 15% 10% 5% 0% % of Total Household Apartment Condo Townhome <=25 26-40 41-55 56-64 65+ Age Distribution – Downtown Summary 35% 25% 20% 30% 15% 10% 5% 0% <=2526-4041-5556-6465+ STATE OF DOWNTOWN FORT WORTH 2023 Age

65% of

renters are under

Income and Employment

56% of apartment residents have an income

72% of townhome residents have an income greater than $250,000

45% of condo owners are retired

Income by Residence Type Top 20% Employment Industries Employment Status by Residence Type 100% 80% 60% 40% 20% 0% ApartmentTownhomeCondo $50,000 to less than $100,000 $150,000 to less than $200,000 $200,000 to less than $250,000 $100,000 to less than $150,000 Greater than $250,000 50% 40% 30% 20% 10% 0% Science, Engineering, AI FinanceHealth Care Services 100% 80% 60% 40% 20% 0% ApartmentTownhomeCondo Full Part Self Student Unemployed and Non-looking Retired

Source: Downtown Fort Worth, Inc. Residential Survey, 2023

$50,000 to $100,000

between

STATE OF DOWNTOWN FORT WORTH 2023

Among married multifamily residents with children, 93% have one child in the household

76% of Downtown residents have a bachelor's degree or higher.

STATE OF DOWNTOWN FORT WORTH 2023 30

are

1.6

average number

each household Household Type Education Marital Status by Residence Type 100% 80% 60% 40% 20% 0% ApartmentTownhomeCondo Single Divorced Widow Living Together Not Married Married Highest Degree Completed 45% 40% 25% 20% 35% 30% 15% 10% 5% 0% Less Than High School High School Diploma Some College Associate Degree Bachelor’s Degree Master’s Degree PhD

POPULATION AND HOUSING 29%

Downtown residents

married

The

of adults living in

Source: Downtown Fort Worth, Inc. Residential Survey, 2023

31 Residental Sentiments How clean is Downtown? What is the main reason for living Downtown?

80% 70% 50% 40% 60% 30% 20% 10% 0% Very CleanCleanUncleanVery Unclean 40% 25% 20% 35% 30% 15% 10% 5% 0% LifestyleLocationWorkCommunityConvenience Other 40% 25% 20% 35% 30% 15% 10% 5% 0% WalkabilityCentral Location Proximity to Work Restaurants and Bars Urban Environment Arts and Culture Entertainment Other Public Parks Public Transit Source: Downtown Fort Worth, Inc. Residential Survey, 2023 STATE OF DOWNTOWN FORT WORTH 2023 Public Market Building

What aspect of living Downtown most positively impacts your life?

STATE OF DOWNTOWN FORT WORTH 2023 32

AND HOUSING How safe do you feel Downtown during the day? How safe do you feel Downtown during the night? 50% 40% 20% 30% 10% 0% Very SafeSafeUnsafeVery Unsafe 70% 60% 50% 40% 20% 30% 10% 0% Very SafeSafeUnsafeVery Unsafe Residential Sentiments Continued Source: Downtown Fort Worth, Inc. Residential Survey, 2023

POPULATION

What two amenities would you like to see more of in Downtown? – Top 20% Responses

Grocery stores and green spaces are the most highly sought-after amenities by residents of Downtown.

30% 25% 20% 15% 10% 5% 0% Green Space, Grocery Grocery, Retail Grocery, Restaurants and Bars Grocery, Food Trucks Restaurants and Bars, Retail Grocery, Outdoor Athletic Equipment Green Space, Restaurants and Bars

STATE OF DOWNTOWN FORT WORTH 2023

Source: Downtown Fort Worth, Inc. Residential Survey, 2023

POPULATION AND HOUSING

Condominiums and Townhomes Sold - Average Price per Square Foot by Region

42 additional condo and townhome units are in various stages of the planning process.

Condominium and Townhome Sales in Downtown

The 2023 median sales price for all condos and townhomes sold is $335,000, $293 per square foot, a 10% increase since 2021.

STATE OF DOWNTOWN FORT WORTH 2023 Trinity Highline

35 STATE OF DOWNTOWN FORT WORTH 2023 Condominium and Townhome Average Price per SF Condominium and Townhome Sales $400 $300 $200 $350 $150 $100 $250 $50 $0 CondoTownhome 2020 1 2 3 41 2 3 41 2 3 41 2 3 4 2021 2022 2023 $263 $330 Townhome Sales Price Distribution Since 2020 – Price in $1,000's Condominium Sales Price Distribution Since 2020 – Price in $1,000's 16 18 Number of Units Sold Price Range of Sell 14 10 8 12 6 4 2 0 [$215 , $274][$274 , $332] [$332 , $392][$391 , $449][$449 , $508][$508 , $566][$566 , $625][$625 , $683] [$683 , $742][$742 , $800] 200 180 106 140 100 80 120 60 40 20 0 [$145 , $331][$331 , $516][$516 $702][$702 , $887][$887 $1,073][$1,073 , $1,258][$1,258 , $1,444][$1,444 , $1,629][$1,629 , $1,815][$1,815 , $2,000] Number of Units Sold Price Range of Sell Source: North Texas Real Estate Information Systems, Inc.

STATE OF DOWNTOWN FORT WORTH 2023 36

Residential Units Planned or Announced Downtown Fort Worth PROJECT UNITS PROJECT UNITS The Jones 408 The McCullough 39 Oncor Building 346 The Palmer 25 7th and Henderson 310 811 Samuels 22 Summit Highline 135 Parkview Townhomes 8 Georgian Oaks 95 Green St. Condominium Project 6 Total 1,394 Source: Downtown Fort Worth, Inc. 302 27 172 336 346 205 135 22 6 408 310 39 825 95 6 Multifamily Developments Building Status planning under construction Residential Units Currently Under Construction Downtown Fort Worth PROJECT ADDRESS BUILDING TYPE UNITS The Grayson on 4th 2111 E 4th St. Apartments 336 Deco 969 969 Commerce St. Apartments 302 The Harden at Public Market1400 Henderson St.Senior Housing 205 Trinity Highline 1108 Gounah Apartements 172 The Harrison 515 Samuels Ave. Apartments 27 1101 Poindexter St. 1101 Poindexter Townhomes 6 Total 1,048

POPULATION AND HOUSING

2011–2013

2014–2016

2017–2020

2021–2023

2011–2015

2016–2020

2021–2022

2023–2024

Rapid Growth

In 2023, with 68,000 units permitted, the Dallas-Fort Worth Metroplex had the nation's second-highest number of privately-owned housing units authorized by building permits.

The volume of building permits granted is often used as a gauge of future building activity. Housing

Texas led the nation with over 227,000 authorized units for the same year, according to the U.S. Census.

37 STATE OF DOWNTOWN FORT WORTH 2023

Construction in Downtown Fort Worth Renter Occupied Units

600800 400 1,0001,2001,4001,600

Housing

0200

Construction in Downtown Fort Worth Owner Occupied Condominiums and Townhomes

100200300400

CoStar Source: CoStar Senior Living Not Included in the Data T&P Passage Project – Texas & Pacific Lofts

2006–2010 Source:

BUSINESS AND LEISURE TRAVELERS AGREE, DOWNTOWN IS THE PLACE TO STAY.

According to CoStar, Fort Worth’s hotel inventory grew by 6%, or over 1,000 rooms, second only in the Metroplex to Arlington’s 16% growth in 2023.

Downtown’s current inventory of 3,707 hotel rooms is expected to increase by 46%, with 1,686 more rooms in the planning process. Of these, 292 are under construction.

Although only 9% of the city’s hotels are located Downtown, it has 23% of the hotel rooms. In 2023, the total hotel room receipts for Downtown totaled $180 million, 36% of all the receipts for Fort Worth, according to the Texas Comptroller.

Construction on the Fort Worth Convention Center expansion began in 2023. The project’s first phase includes the demolition and relocation of loading docks, new food and beverage facilities, and the straightening of Commerce Street, making room for a future convention center hotel.

The arena will be demolished in the second phase to add 97,000 square feet of exhibit hall space, additional flexible meeting rooms, and a new 60,000-square-foot ballroom.

Trends from Placer.ai, for visitors whose home location is greater than 50 miles away, indicate that Downtown’s hospitality market is continuing to recover from the pandemic. Visits to the core of Downtown increased by 4.3%, or 4.4 million, Year over Year.

Downtown Central Station offers convenient transportation options, including a one-hour ride to DFW Airport via TEXRail and a one-hour ride via TRE to Downtown Dallas. Trinity Metro’s bus network provides easy access to Fort Worth neighborhoods and attractions such as Dickies Arena, the Cultural District, and the historic Stockyards.

38 HOSPITALITY

STATE OF DOWNTOWN FORT WORTH 2023 Hotels Planned (P) or Under Construction (UC) HOTEL ROOMS Sandman Signature (UC) 245 Avid Fort Worth East (UC) 104 Le Méridien Fort Worth Downtown (UC) 188 Fort Worth Convention Center Hotel (P) 600 Omni (P) 400 Residence Inn (P) 149 Total 1,686 Source: Downtown Fort Worth, Inc.

Tourist Visits to Downtown’s Core 2023 vs. 2022

This chart displays the number of out-of-town visitors (home residence is more than 50 miles away) who stayed overnight in hotels and/or participated in conventions or events.

39 STATE OF DOWNTOWN FORT WORTH 2023 E Lancaster Ave USHwy287 MainStCommerce St ChisholmTrailPkwy State Hwy 121 StateHwy199 I35 W I- 30 Downtown Core

500,000 450,000 350,000 250,000 400,000 300,000 200,000 150,000 100,000 50,000 JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember 20232022 2019 Source: Placer.ai City’s Share of Total DFW Hotel Inventory ArlingtonRichardson Plano Dallas Fort Worth Grapevine Irving 42% 18% 14%9% 8% 5% 3%

CoStar

Texas Comptroller Hotel Total Room Tax Receipts $900,000,000 $800,000,000 $500,000,000 $400,000,000 $700,000,000 $600,000,000 $300,000,000 $200,000,000 $100,000,000 $0 Dallas CBDFW CBDHouston CBD San Antonio CBD Austin CBD 2023% Change from 2022 17% 11% 20% 5% 5% Le Méridien

Source:

STATE OF DOWNTOWN FORT WORTH 2023 40

Downtown Hotel Average Daily Rate 80% 60% 70% 50% 40% 30% 20% 10% 0% 25% 10% 5% 15% 20% 0% -5% -10% JanFebMarAprMayJunJul Aug SepOct Nov Dec YoY % Change2023 2022 250 200 150 100 50 0 20% 15% 5% 10% 0% -5% -10% JanFebMarAprMayJunJul Aug SepOct Nov Dec YoY % Change2023 2022

HOSPITALITY Hotel Occupancy Rates

Downtown Hotel RevPAR by Class 160 120 140 100 80 60 40 20 0 40% 35% 25% 15% 10% 5% 20% 30% 0% -5% -10% JanFebMarAprMayJunJul Aug SepOct Nov Dec YoY % Change2023 2022

Source: Smith Travel Research Source: Smith Travel Research Source: Smith Travel Research

41 STATE OF DOWNTOWN FORT WORTH 2023

1040 618 539 504 403 180 163 140 120

Number of Aggregate Hotel Rooms by Area

Fort Worth Convention Center Facts Exhibit Hall Total exhibit space 253,226 SF Total exhibit hall space 182,613 SF Largest room ceiling height25 Feet Maximum group number 25,000 Total # of meeting rooms 38 Arena Total arena floor 25,960 SF Total # of arena seats 10,418 Total temporary seats 2,500 Ballroom Total ballroom space 28,160 SF Total guests 3,000 Source: Visit Fort Worth

(Q1 2021-Q1 2022) NAME SHOW ATTENDEES CONTRACT ROOMS 1. 2021 UIL Spirit State Championship 32,5003,250 2. 2022 UIL Spirit State Championship 32,5003,079 3. 2021 American Cheerleader Association National Championships 25,000 4,244 4. 2021 Metroplex Challenge 14,0001,230 5. 2022 American Cheerleader Association National Championships 14,0002,111 6. 2022 Metroplex Challenge 10,0001,587 7. 2021 Texas FFA Annual Convention and Trade Show 10,000 10,701 8. 2021 Anime Frontier Show 10,000695 9. 2021 Concealed Carry Expo 5,0001,120 10. 2021 Texas State Taekwondo Championship 4,200 280 Source: Visit Fort Worth

3,707 total hotel rooms

Top 10 Convention Center Events

DOWNTOWN HAS IT ALL – DINING, DRINKS, DANCING, SHOPPING, THEATRE, AND MORE.

Downtown hosted a total of : 19.6 million visits in 2023.

In 2023, the Wedgwood neighborhood had the most visits by home ZIP code to Downtown, while the Meadowbrook neighborhood had the highest year-over-year increase in visits.

42 STATE OF DOWNTOWN FORT WORTH 2023 RETAIL Downtown Fort Worth Visits by Month 1,600,000 1,400,000 2,000,000 1,800,000 800,000 600,000 400,000 1,200,000 1,000,000 200,000 0 2023 Visits2022 Visits JanuaryFebruaryMarchApril June May August July October September NovemberDecember

Source: Placer.ai Source: Placer.ai Bass Performance Hall

Retail Drivers

Hotel Rooms: 3,707

Residential Units: 5,876

$700M planned convention center expansion

$350M planned Texas A&M Fort Worth expansion

Promising Retail Trends

Deco 969, the luxury high-rise development, began leasing in March 2024 with an anticipated average price per square foot of $3.30. Adding new units creates a demand for restaurants and retail that meets the need of new residents.

43 STATE OF DOWNTOWN FORT WORTH 2023 Downtown Fort Worth – Total TABC Receipts Household Income Distribution of Downtown Fort Worth Visitors 14% 10% 8% 12% 6% 4% 2% 0% <$10K $15K–20K $10K–15K $30K–35K $20K–25K $40K–45K $35K–40K $50K–60K $45K–50K $75K–100K $60K–75K $100K–125K $125K–150K $150K–200K >$200K $25K–30K $60 $50 $30 $20 $40 $10 $0

20222023 Dollars in Millions $52,192,258

2013

20142015201620172018201920202021

$52,170,983

Source: Placer.ai Source: TABC

DOWNTOWN FORT WORTH IS KNOWN FOR ITS OUTSTANDING QUALITY OF LIFE.

Downtown is a safe, clean, and exciting place to live, work, shop, and play.

By providing a wide range of amenities, services, and activities, our city center offers something for everyone. Downtown supports an excellent urban lifestyle, from cosmopolitan cultural experiences, relaxing parks, and special events to fun entertainment options and action-packed outdoor opportunities.

44 QUALITY OF LIFE

Entertainment Venues Downtown Fort Worth VENUE AVAILABLE SEATS Fort Worth Convention Center (Arena Seating) 10,418 Bass Performance Hall 2,056 AMC Palace 9 623 Big Laugh Comedy 400 Hyenas Comedy 340 Four Day Weekend 212 Rooftop Cinema Club 174 Jubilee Theatre 147 Circle Theatre 125 STATE OF DOWNTOWN FORT WORTH 2023 MAIN ST. Fort Worth Arts Festival

Entertainment

Fort Worth Convention Center hosts year-round events, including sports, musical performances, trade shows, conventions, and other top-flight entertainment.

Sundance Square Plaza, located in the heart of Downtown Fort Worth, is the perfect place to dine, shop, and have coffee while sitting outside under the umbrellas.

Home to the MAIN ST. Fort Worth Arts Festival and GM Financial Parade of Lights

Sid Richardson Museum features paintings by Frederic Remington, Charles M. Russell, and other premier Western artists.

AMC Palace 9 and Rooftop Cinema Club

Bass Performance Hall: This spectacular 2,056-seat performance space is world renowned for its superb acoustics and sight lines.

Circle Theatre is best known for its premieres of contemporary plays by today's outstanding playwrights.

Jubilee Theatre is one of the Southwest's premiere African American theatres.

Parks/Recreation

385 acres of park land service Downtown

Downtown’s Trinity River Waterfront offers seasonal canoeing, kayaking, paddle boarding, and fishing.

Access to more than 100 miles of scenic trails for running, walking, cycling, and horseback riding. Fort Worth Water Gardens is a beautiful and refreshing oasis adjacent to the Fort Worth Convention Center.

Ten parks serving the Downtown area

General Worth Square includes the JFK Tribute in Fort Worth. The Park offers year-round programmability for Downtown employees, residents, visitors, conventioneers, and event planners.

STATE OF DOWNTOWN FORT WORTH 2023

Created in 1986, the Downtown Fort Worth Improvement District (PID) #1, administered by DFWI, offers a comprehensive program of services, including research, marketing, Downtown planning assistance, sidewalk cleaning, street sweeping, security enhancement, litter removal, and bird abatement. In the fall of 2020, a new outreach coordinator joined the Ambassador team to connect those in need to proper social services utilizing strategic case-level management.

From 1986 to 2009, the PID services were renewed by petition every five years by an overwhelming majority of property owners. Because of the PID’s ongoing success, it was reestablished in 2009 for a 20-year period by the Fort Worth City Council, following the submission of petitions from property owners representing 83% of the property value and 80% of the land area in the district.

Downtown Fort Worth Improvement District #14 was established in June 2009. Since then, District contractors have provided services along Samuels Avenue daily.

$3,223,907 in services annually

1,249 trees serviced within PIDs

13,500 square feet of planters in bloom year-round

75,000 flowers planted annually

1,984 cubic yards (53,568 cubic feet) of dirt/debris removed from streets, curbs, and gutters annually

15,660 linear miles of sidewalks cleaned annually

4,088 miles of curb and gutter cleaning annually

20 full-time clean-team members

13 Ambassadors

1 Outreach Coordinator

27 dump trucks of recyclable material collected each year

Over 150 Downtown trees illuminated and managed by the PID

46 STATE OF DOWNTOWN FORT WORTH 2023

QUALITY OF LIFE PID #1 & #14

Tax Increment Finance District #3

A significant partnership that adds to the success of Downtown is Tax Increment Finance (TIF) District #3 and the other Downtown-oriented TIFs. The Downtown TIF invests strategically in parking, infrastructure, historic preservation, and residential development.

The TIF is a collaboration of the City of Fort Worth, Tarrant County, Tarrant County Hospital District, Tarrant County College District, and Tarrant Regional Water District.

To date, the TIF has obligated roughly $90 million, leveraging $911 million in private development and facilitating $55.05 million in public investment. In the tax year 2022, the TIF generated a $12.6 million tax increment among the taxing district partners. The TIF is capped in revenues at $5 million per year; the remainder of the tax increment, $7.6 million, was returned to the taxing jurisdictions.

47 STATE OF DOWNTOWN FORT WORTH 2023

District Downtown TIF Investments, Tax Increment Value, and Expenses $1,200 $1,400 $1,400 $800 $1,000 $400 $600 $200 $0 1,200 1,600 2,000 1,800 1,400 800 1,000 400 600 200 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TIF Expenses Investments (Millions) Total SF of DowntownDevelopment (Thousands) Tax Increment Value (Milliions) $1,342 $1,023 $77

Source: Downtown Fort Worth, Inc., and

Tarrant Appraisal

EDUCATION IS A KEY TO DOWNTOWN’S FUTURE.

Since Texas A&M University acquired the law school in 2013, it has experienced the most significant jump in reputation score of any law school in the United States. The law school is now ranked #29 nationally and recently passed its Texas counterparts at Baylor University, Southern Methodist University, and the University of Houston in the latest U.S. News & World Report rankings.

Between 2017 and 2021, applications more than doubled from 1,862 to 3,818

More than 4,000 applications in 2022

On target for a 164 median LSAT and a 3.9+ median undergraduate GPA

Ranked #1 among Texas law schools for Texas Bar Examination pass rate (95%) in 2023

Ranked #1 nationally for gold standard job placements (98% Class of 2022)

48 STATE OF DOWNTOWN FORT WORTH 2023 EDUCATION

UT Arlington, Texas A&M Law School, and Tarrant County College boost workforce development in Downtown.

Primary and Secondary School Enrollment

The new expanded Texas A&M University campus, emphasizing innovation, entrepreneurship, and technology, will help advance the region's goals. The campus will help position the Metroplex as a hub of the new economy – including in aerospace and mobility, healthcare, energy, telecommunications, and other growth areas.

Source: Texas A&M

UTA Fort Worth is a vital extension of the University of Texas at Arlington. To meet the evolving needs of today’s workforce and professionals, UTA Fort Worth expanded its academic offerings in 2023 to include graduate programs in Software Engineering and Engineering Management. This expansion complements its already robust selection of programs in Business, Nursing, Healthcare Administration, Real Estate, Public Administration, and Social Work. In 2023, it also became the new home for the Institute of Urban Studies.

Recognized for its academic excellence and impact, UTA has been ranked as the #1 Public University in North Texas by the Wall Street Journal in 2024, #3 in Texas for Advancing Social Mobility by U.S. News & World Report in 2024, and #1 Best Public University for Veterans by Military Times in 2023, underscoring its commitment to academic excellence and professional success

Source: UTA Fort Worth

Tarrant County College's Trinity River Campus, located in downtown Fort Worth, offers a dynamic learning environment with a strong focus on academics and community impact. Renowned for its healthcare professions programs, including various nursing, imaging science, and therapeutic programs, the campus also fosters the Texas Academy of Biomedical Sciences, an early college high school preparing students for advanced degrees in health-related fields.

Beyond healthcare, TCC-Trinity River offers diverse programs across various disciplines (including sign language interpretation and geographic information systems), equipping students for transfer, workforce training, technical skills development, and lifelong learning opportunities.

Strong partnerships and community services further enrich the college experience.

Source: Tarrant County College

49 STATE OF DOWNTOWN FORT WORTH 2023

Source: Texas Education Agency

I.M. Terrell Academy for STEM and VPA Charles Nash Elementary Texas Academy of Biomedical Sciences Young Women’s Leadership Academy 500 600 300 400 100 200 0 2018-2019 2019-2020 2020-2021 2021-2022

DOWNTOWN IS FORT WORTH’S TRANSIT HUB.

Downtown Fort Worth’s Central Station is the gathering point for Trinity Metro bus routes, The Dash, Molly the Trolley shuttle service, Trinity Railway Express (TRE), TEXRail, Amtrak, and the Greyhound Bus Line. Currently, 15 bus routes connect all parts of Fort Worth to Downtown. The TRE offers an eight-stop service between Downtown Fort Worth and Dallas. TEXRail offers a seven-stop service to DFW International Airport. Both lines represent excellent commute options for Downtown employees.

Fort Worth has 62 bike-sharing stations strategically placed throughout the city, with 15 concentrated in the Downtown area. Downtown stations experienced over 24,000 checkouts in 2023, a 10% increase over 2022.

Downtown visitors can take advantage of 2,562 free metered parking spaces available after 6 p.m., courtesy of the City of Fort Worth. Additionally, visitors can benefit from 3,311 free garage parking spaces on weekdays and all day on weekends, thanks to the Downtown Tax Increment Finance District.

TRANSPORTATION 50 STATE OF DOWNTOWN FORT WORTH 2023

714,716 TEXRail riders for 2023, a 28% increase in ridership from 2022

1,150,851 riders for Trinity Railway Express (TRE) for 2023, a 6% increase in ridership from 2022

Dallas-Fort Worth International Airport

• 22 miles f rom Downtown

• Direct access to the Terminal B Station via TEXRail

• 81+ MILLION passengers in 2023

four hours

• Ranked 2nd busiest in the United States for passenger boardings for 2022 (Federal Aviation Administration, 2022)

• 193 domestic and 67 international nonstop destinations worldwide

Every major city in the continental United States can be accessed within four hours

Meacham International AirportNorth Texas's premier general aviation facility since 1925

• Located 5 miles from Downtown

• Serves private and business flights as well as flight training

• Has a $170 million CIP plan to update its facilities and infrastructure

Highways serving Downtown:

• I-35

• I-30

• Hwy 121

• Hwy 287

• Chisholm Trail Parkway

51 STATE OF DOWNTOWN FORT WORTH 2023

Source: DFW Airport Traffic Statistics

TRANSPORTATION 52 STATE OF DOWNTOWN FORT WORTH 2023 Fort Worth Metro Area Rail Transit Services Trinity Railway Express TEXRail Texas & Paciﬁc Fort Worth Central Richland Hills Bell CentrePort/DFW Airport Downtown Irving/Heritage Crossing West Irving North Side Mercantile Center North Richland Hills/Iron Horse North Richland Hills/Smithﬁeld Grapevine/Main Street DFW North DFW Terminal B Amtrak: TexasEagle Amtrak:Texas Eagle Amtrak:Heartl a ndFlyertoOklahoma City Dallas Source: ESRI

TEXRail:

• The 25-mile commuter rail connects Downtown Fort Worth to DFW International Airport within one hour.

• Each train has 229 seats and a total capacity of 488.

• Amenities include a designated quiet car, level boarding, bike racks, USB charging ports, seatback trays and tables, and overhead luggage racks.

• TEXRail operates on the same schedule seven days a week, including all holidays.

• A proposed 2.1-mile extension would continue south from the Fort Worth T&P Station to a new Fort Worth Medical District station.

Sources: National Transit Database; Trinity Metro TEXRail Monthly Ridership

Sources: National Transit Database; Trinity Metro

Railway Express Monthly Ridership

53 STATE OF DOWNTOWN FORT WORTH 2023

Trinity

120,000 100,000 60,000 80,000 40,000 20,000 0 TEXRail 12-month Average Jan 2019 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sept 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sept 2020 Oct 2020 Nov 2020 Dec 2020 Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 Jun 2021 Jul 2021 Aug 2021 Sept 2021 Oct 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022 Jun 2022 Jul 2022 Aug 2022 Sept 2022 Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023 Apr 2023 May 2023 Jun 2023 Jul 2023 Aug 2023 Sept 2023 Oct 2023 Nov 2023 Dec 2023 250,000 150,000 200,000 100,000 50,000 0 TRE 12-month Average Jan 2019 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sept 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sept 2020 Oct 2020 Nov 2020 Dec 2020 Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 Jun 2021 Jul 2021 Aug 2021 Sept 2021 Oct 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022 Jun 2022 Jul 2022 Aug 2022 Sept 2022 Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023 Apr 2023 May 2023 Jun 2023 Jul 2023 Aug 2023 Sept 2023 Oct 2023 Nov 2023 Dec 2023

The Dash

• The Dash is Trinity Metro’s allelectric bus that connects Downtown with the Cultural District and the West 7th entertainment corridor.

• The Dash provides daily service with later hours on Friday and Saturday nights.

Source: Trinity Metro

Molly the Trolley

• The Molly route travels from the Fort Worth Convention Center to Sundance Square seven days a week. Service runs from 10 a.m. to 10 p.m. daily, in 15-minute headways.

• Molly also serves Trinity Metro's Fort Worth Central Station, which gives passengers access to commuter rail, Amtrak, inner-city and inter-state bus services.

• Molly the Trolley's rider fares are paid for thanks to subsidies from Visit Fort Worth, Downtown Fort Worth, Inc., and Downtown hotels.

Source: Trinity Metro

Molly the Trolley Annual Ridership

TRANSPORTATION 54 STATE OF DOWNTOWN FORT WORTH 2023

100,000 80,000 70,000 50,000 30,000 10,000 60,000 90,000 40,000 20,000 0 2017 2018 2019 2020 2021 2022 2023 Suspended Operations 53,922 The Dash Annual Ridership 60,000 50,000 20,000 30,000 40,000 10,000 0 2019 2020 2021 2022 2023 53,236 Operations began September Source: Trinity Metro

Source: Trinity Metro

Trinity Metro Bus

• Trinity Metro operates 37 regular bus routes with more than 1,703 bus stops.

All of their standard buses are powered by compressed natural gas. Trinity

55 STATE OF DOWNTOWN FORT WORTH 2023

Bus Monthly Ridership

Federal Transit Administration 600,000 700,000 400,000 500,000 200,000 300,000 100,000 0 Jan 17 Mar 17 May 17 July 17 Sept 17 Nov 17 Jan 18 Mar 18 May 18 July 18 Sept 18 Nov 18 Jan 19 Mar 19 May 19 July 19 Sept 19 Nov 19 Jan 20 Mar 20 May 20 July 20 Sept 20 Nov 20 Jan 21 Mar 21 May 21 July 21 Sept 21 Nov 21 Jan 22 Mar 22 May 22 July 22 Sept 22 Nov 22 Jan 23 Mar 23 May 23 July 23 Sept 23 Nov 23 Metro 12-month Average

Metro

Source:

Resident Transportation Analysis:

This data set offers insights into how sampled residents in the following central business districts commute to their jobs. This can be essential for urban planning, transportation policy, and economic analysis.

Source: U.S. Census ACS 2020. ZIP codes used for downtown: Austin –78701, San Antonio –78205, Dallas –75201 & 75202

from 2020 ACS % Change from 2020 ACS

Source: U.S. Census ACS 2020. ZIP codes used for downtown: Austin –78701, San Antonio –78205, Dallas –75201 & 75202

TRANSPORTATION 56 STATE OF DOWNTOWN FORT WORTH 2023

Means of Transportation to Work: Car, Truck, or Van Means of Transportation to Work: Public Transportation

9% 5% 4% 7% 8% 6% 10% 3% 2% 1% 0% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio 20% 25% 80% 70% 60% 20% 30% 40% 50% 10% 0% 0% -4% -2% -12% -10% -8% -6% -14% -16% 60% 20% 40% -60% -40% -20% 0% 80% -100% 40% 20% -60% -40% -20% 0% -80% 30% 20% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio 6% 4% 5% 3% 2% 1% 0% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio -14% 43% 1.8% 4.5% 0.3% 1.6% 55% 68% 74% 2% 4% 5% 2% 19% 16% -5% -2% -15% 22% 15% -10% -70% 19% 39% -80% -66% 10% % Change from 2020 ACS % Change from 2020 ACS % Change from 2020 ACS 9% 5% 4% 7% 8% 6% 10% 3% 2% 1% 0% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio 25% 80% 70% 60% 20% 30% 40% 50% 10% 0% 0% -4% -2% -12% -10% -8% -6% -14% -16% 60% 20% 40% -60% -40% -20% 0% 80% -100% 40% 20% -60% -40% -20% 0% -80% 30% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio 6% 4% 5% 3% 2% 1% 0% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio -14% 43% 1.8% 4.5% 0.3% 1.6% 55% 68% 74% 2% 4% 5% 2% -5% -2% -15% 22% 15% -10% -70% 39% -80% -66% 10% % Change from 2020 ACS % Change from 2020 ACS % Change from 2020 ACS 9% 5% 4% 7% 8% 6% 10% 3% 2% 1% 0% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio 25% 80% 70% 60% 20% 30% 40% 50% 10% 0% 0% -4% -2% -12% -10% -8% -6% -14% -16% 60% 20% 40% -60% -40% -20% 0% 80% -100% 40% 20% -60% -40% -20% 0% -80% 30% 20% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio 6% 4% 5% 3% 2% 1% 0% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio -14% 43% 1.8% 4.5% 0.3% 1.6% 55% 68% 74% 2% 4% 5% 2% 19% -5% -2% -15% 22% 15% -10% -70% 19% 39% -80% -66% 10% % Change from

ACS

Change

Means of Transportation to Work: Carpool

2020

57 STATE OF DOWNTOWN FORT WORTH 2023 Average Daily Traffic Count State and Federal Highways Serving Downtown Fort Worth

of Transportation

Bicycle Means of Transportation to Work: Worked From Home 20% 25% 15% 10% 5% 0% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio 30% 20% -20% -10% 0% 10% -30% 8% 19% 16% 8% 19% -25% -2% -28% % Change from 2020 ACS % Change from 2020 ACS 40% 35% 30% 10% 15% 20% 25% 5% 0% 90% 70% 80% 30% 40% 50% 60% 20% 0% 10% Downtown Austin Downtown Dallas Downtown Fort Worth Downtown San Antonio 58% 34% 20% 19% 15% 71% 77% 78% % Change from 2020 ACS 120,000 140,000 180,000 160,000 200,000 80,000 100,000 40,000 60,000 20,000 $0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 I-35W I-30 SH 287 SH 121

Source: Texas Department of Transportation

Means

to Work: Walk or

Source: U.S. Census ACS 2020. ZIP codes used for downtown: Austin – 78701, San Antonio – 78205, Dallas – 75201 & 75202 Source: U.S. Census ACS 2020. ZIP codes used for downtown: Austin – 78701, San Antonio – 78205, Dallas – 75201 & 75202

Larry Auth

Omni Fort Worth Hotel (Chair)

Laura Bird

Anthracite Realty Partners

Johnny Campbell City Center Fort Worth

Gary Cumbie

The Cumbie Consultancy

Jennifer Eslinger Burnett Plaza

Drew Hayden

The Worthington Renaissance Fort Worth Hotel

Marie Holliday, DMD Flowers to Go in Sundance Square

Ashlee Johnson

Ron Investments, Ltd.

Whit Kelly 777 Main

Ed Kraus Sundance Square

Walter Littlejohn

The Fort Worth Club

Michelle Lynn Building Owners & Managers Association

Renee Massey

Red Oak Realty

Don Perfect

Oncor Electric Delivery

Amber Reynolds

Finley Resources, Inc.

Carissa Taylor AC Hotel Marriott

Carlos De La Torre

Fort Worth Downtown Neighborhood Alliance

Courtney Towson

Sheraton Fort Worth Downtown Hotel

Jed Wagenknecht Courtyard by Marriott Fort Worth Downtown/Blackstone

TRANSPORTATION 58 STATE OF DOWNTOWN FORT WORTH 2023

PID ADVISORY BOARD

Credits

Downtown Fort Worth, Inc., is grateful to the following organizations and individuals for their assistance in producing the State of Downtown publication:

City of Fort Worth

Mary Margaret Davis Real Estate Broker

Phil Dupler Director of Planning

Trinity Metro

Peter Elliot Parking Manager Fort Worth Transportation and Public Works

Downtown Fort Worth, Inc. Publications

• Annual Report

• In View

• Residential Survey Report

• State of Downtown Information Sources

City of Fort Worth CoStar

Downtown Fort Worth, Inc.

ESRI

Federal Transit Administration

Greater Fort Worth Association of Realtors

National Association of Realtors

North Texas Real Estate Information Systems, Inc.

Placer.ai

Southern Land Company

Tarrant County

Appraisal District

Tarrant County College

Texas A&M Real Estate Research Center

Texas A&M School of Law

Texas Alcoholic Beverage Commission

Texas Comptroller of Public Accounts

Dr. Sean Maddison Tarrant County College

Nina Petty

Texas A&M University School of Law

Michael Wollman

The University of Texas at Arlington, Fort Worth Center

Texas Department of Transportation

Texas Education Agency

Texas Workforce Commission

Trinity Metro

U.S. Bureau of Labor Statistics

U.S. Census Bureau

University of Texas at Arlington

Visit Fort Worth

Young Women’s Leadership Academy

Downtown Fort Worth, Inc.

Staff

Andy Taft President

Matt Beard Director of Public Improvements

Cleshia Butler Administrative Assistant

Jay Downie Event Producer

Brandi Ervin Controller

Becky Fetty Director of Membership and Marketing

Kennedy Gardner Event Production Manager

Melissa Konur Director of Planning

KayLee Pratt

Marketing and Special Projects Manager

Shane Smith Director of Research

Barbara Sprabary Executive Assistant and Office Manager

CREDITS

A service of Downtown Fort Worth, Inc.

59 STATE OF DOWNTOWN FORT WORTH 2023

Published in April 2024 Downtown Fort Worth, Inc. 777 Taylor Street, Suite 100 Fort Worth, Texas 76102 817.870.1692 | dfwi.org #DowntownFortWorth /DowntownFortWorth /DTFortWorth /DowntownFortWorth