10-Appendix B-Fort Worth Developer-Market Overview Presentation.pdf

COMMERCE

STREET

D E V E L O P M E N T

Commerce Street Innovation District - Developer Interest Presentation

CONTENTS

01 02 03

Fast Facts

Fort Worth Commerce Street

Development & New Headquarters

Hotel

The Unexpected

City

SE

C

TI

O

N

• 4th busiest airport in the world based on passenger traffic (2024).

• Fly to any U.S. destination in four hours – or less.

• Serves more nonstop destinations than any other U.S.

airport.

• American Airlines Corporate HQ.

Fort Worth Region

FORT WORTH

COMMERCE STREET

DEVELOPMENT

NEW HEADQUARTERS

HOTEL

Convention Center Undergoing a $546M Expansion

Innovation District Supported by Texas A&M University

Revitalization of South Downtown Area

Convention Center Expansion

SECTION 02

DOWNTOWN

FORT WORTH

DEVELOPMENT

PLAN

New Headquarters Hotel Site

Convention Center Headquarters Hotel

• 600-800 keys

• Supporting new Convention

Center Expansion

• Forward Looking Iconic

Architectural Statement

• Landmark for Innovation District

• Active Retail and Restaurant's on

First Floor

• Possible Residential and Office

Tower Component New Hotel Tower Concept

Phase 1 Completed

• Substantial Completion Achieved February 2026

• Commerce Street Straightening Complete

• February 2026

Phase 1 Renovation Expansion and Hotel Site

• Newly opened Commerce Street Straightening

New Hotel Site

Newly Completed Convention Center Phase 1

New Academic Tower (Building 1 Law & Education)

Construction Underway

Substantial Completion Spring 2026

WATER

GARDENS

L A N C A S T E R A V E

EXISTING

SCHOOL

OF LAW

LOT 2

LOT 3

LOT 1

COFW/

TXDOT

COFW/

TXDOT

FORT WORTH

CAMPUS FOOTPRINT

• Original configuration is 4 city blocks totaling 3.7 acres.

• From the original configuration, we are in the process of adding three additional parcels.

o Amon G. Carter Foundation gift, 0.89 acres north of main campus o The City and TxDOT will transfer 1.29 acres at the corner of Lancaster and Calvert and Lancaster and Commerce

• Additions bring total available space to 7 city blocks and 5.8 acres.

• Further acquisitions are possible as part of the Innovation District envisioned by City planners.

PRE-DEVELOPMENT

POST-DEVELOPMENT

FUTUREDEVELOPMENT

FORT WORTH DEVELOPMENT VISION – 20 BIG IDEAS

• 1. Transform Commerce Street into a Mixed-Use District Convert underutilized downtown blocks into vibrant spaces combining hotel, residential, office, retail, and green space.

• 2. Build a New Convention Hotel Proposed hotel with 600–1000 rooms, substantial meeting space, and pedestrian-friendly design.

• 3. Attract Top-Tier Developers Use a competitive SOQ/RFP process to draw national-level developers with vision and creativity.

• 4. Leverage Texas A&M’s Downtown Expansion A&M’s significant investment is seen as an anchor for innovation, education, and consistent downtown activity.

• 5. Increase Downtown Residential Density High-rise and mixed-use residential projects are key to sustaining retail, safety, and economic vibrancy.

• 6. Activate Street-Level Frontage Avoid blank walls and "dead zones." Encourage retail, dining, and transparent façades at the pedestrian level.

• 7. Revitalize Water Gardens and General Worth Square These spaces are critical to bringing in greenery, community events, and visual appeal.

• 8. Define a District Identity Stakeholders propose naming the area (e.g., Innovation District or Convention District) to build a unique brand.

• 9. Support Public-Private Partnerships (PPPs) Partnerships will be essential to aligning private development with city and institutional goals.

• 10. Embrace an Innovation Theme Over Western Nostalgia Unlike the Stockyards, this area should look forward with an innovation-oriented aesthetic and purpose.

• 11. Enhance Transit Connections Better pedestrian access to Fort Worth Central Station, potential future rail extensions, and walkability.

• 12. Design for a “Live, Work, Play” Ecosystem Stakeholders stress integrating housing, offices, restaurants, and entertainment within walkable blocks.

• 13. Complement the Omni Hotel Expansion Consider how a new hotel can coexist or replace the proposed Omni expansion while adding unique value.

• 14. Add Nightlife and Entertainment Options Highlighted need for live music venues, bars, and late-night destinations near the hotel and convention areas.

• 15. Include Higher Education in Long-Term Planning Opportunities for student housing, classroom space, or partnerships with UT and A&M are emphasized.

• 16. Adaptive Reuse and Infill Development Vacant or older buildings should be reused or redeveloped for residential or commercial purposes.

• 17. Build Iconic Architecture The desire for a “statement” building or skyline-enhancing feature was mentioned repeatedly.

• 18. Focus on Curated Retail and Dining Avoid generic retail; attract unique tenants and create themed or local experiences.

• 19. Monitor Hotel Room Inventory Concerns about too many 200-room hotels saturating the market and undercutting convention-focused lodging.

• 20. Balance Affordability and Luxury Develop a mix of affordable and luxury housing, office space, and hospitality to ensure inclusivity and economic strength.

Innovation District – Fort Worth

• Iconic Design for New Headquarters Hotel

• Forward Looking Innovation District Supported by Texas A&M

• A&M Learning Labs on Display from Sidewalk

• Corporate Partners Associated with Texas A&M

• New Convention Center Expansion

• Evoking Fort Worth’s History of

Innovation

• Envisioning Fort Worth Future Innovation

ACTIVATED

RESTAURANTS &

RETAIL ON SIDEWALK

New 600 -800 Room Headquarters Hotel that Supports New Convention Center Expansion

New restaurants and retail spaces that activate the street level

D E S T I N AT I O N F O R T W O R T H

Activate Southern Downtown Fort Worth

And Transform it into an Innovation District Destination, with Lively Restaurants and Retail

Utilize Train Transit from DFW Airport to with

Two Blocks of New Hotel

Leverage the Attraction of Sundance Square, The Stockyards, The Museum District and Dickies Arena

Enhance the Experience of Convention Delegates

E X A M P L E C I T Y

PHOENIX

• ASU

• Night Life

DOWNTOWN

NASHVILLE

• Night Life

SAN DEIGO

• Gaslamp Quarter

KANSAS CITY

• Power and Light District

SECTION 3

HOTEL PERFORMANCE

October 2024 - April 2025

April 2025 / Comp Markets Hotel KPIs

Phase 1: Now - Q1 2026

Phase 1: Now - Q1 2026

Phase 2: Fall 2026 - 2029

POTENTIAL HOTEL DEVELOPMENT

CENTER PROJECTIONS

The convention center expansion will result in a 25% increase in function space.

Attendance, annual visitation, and room nights are expected to increase over 40% above FY 2023 levels due to the expansion.

Hotel room demand recovered post-pandemic, with 2023 levels surpassing pre-pandemic figures.

HOTEL DEVELOPMENT

Le Meridien 189 Rooms Downtown Bowie House 106 Rooms Cultural District Crescent Hotel 200 Rooms Cultural District The Nobleman 153 Rooms Southside

STOCKYARDS DOUBLING IN SIZE

• $1 billion total development

• Tourism boom: 9M Visitor

• Michelin-rated Hotel Drover

• 3 new hotels

• Unique shopping

DFW AIRPORT EXPANSION