RFP-02-Scope of Development V2..pdf

REQUEST FOR PROPOSALS

New Headquarters Hotel and Mixed Use Landmark Destination Development

Project Title: Commerce Street Development

RFP Number: 26-0159

Issuing Agency: City of Fort Worth – Property Management / Economic Development / Public Events Department

Date of Issuance: 3/23/2026

Submission Deadline: 6/18/2026

Hotel Massing Diagram:

Diagram is intended only for inspiration and not considered or interpreted in any other form

Table of Contents

1. Introduction & Invitation

2. Background & Strategic Context

3. Project Overview

4. Site Description

5. Market Context

6. Program Requirements

7. Design Guidelines

8. Development Incentives & Partnerships

9. Submission Requirements

10. Evaluation & Interview Selection Process

11. Appendices

3/19/2026 2Fort Worth Commerce Street Development RFP

1 Introduction & Invitation

• The city of Fort Worth (the “city") hereby issues this Request for

Proposals ("RFP") inviting qualified, visionary development teams (collectively, "Respondents") to submit proposals for The Commerce Street Development—a transformative 600 - 800-key convention headquarters hotel integrated with vibrant mixed-use components on a 4.6-acre site in the heart of downtown Fort Worth and include a parking structure that supports a portion of the demand of the hotel, Texas A&M campus and the Fort Worth Convention Center. The project will directly support the $701 million, two-phase renovation and expansion of the Fort Worth Convention Center and complement the Texas A&M–Fort Worth urban research campus now under construction immediately to the south.

• Situated one block from Fort Worth Central Station, the site offers convenient access to DFW Airport (world’s 4th busiest) via the TEXRail light rail line. The station also serves as a stop for Trinity Railway Express, which provides West-East commuter rail services to the Metroplex suburbs and Downtown Dallas. The main hub of the Trinity Metro bus system is also located at Fort Worth Central Station.

• The project is intended to raise Fort Worth's profile as a convention destination, support the Fort Worth Convention Center Expansion, capitalize on the investment made by Texas A&M to create an Innovation District, spur Downtown development and support the City’s overarching goal to catalyze a 24/7 downtown environment.

• Con-Real was retained by the city to assist with the preparation and administration of this RFP. The city procurement department is the sole point of contact during the RFP process.

• City Vision: This RFP outlines the city’s vision, project requirements, selection criteria, submission instructions, and legal terms. Respondents are encouraged to assemble top-tier multidisciplinary teams with demonstrated experience delivering hospitality, convention, and mixed-use developments of similar scale and complexity.

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Downtown Fort Worth Map

2 Background & Strategic Context

2.1 Downtown Fort Worth Vision

Fort Worth has experienced more than $3 billion in public and private investment since 2000. Signature assets include Sundance Square’s 35 pedestrian-oriented blocks, the Cultural District’s internationally acclaimed museums, and the Historic Stockyards—which together draw over 12 million annual visitors. The next decade will see downtown Fort Worth evolve into one of America’s premier urban centers, driven by strategic investments in transit, higher education, residential and hospitality infrastructure.

2.2 Texas A&M Downtown Campus

In 2023, Texas A&M University System broke ground on an eight-story, 225,000-SF Law & Education Building, the first of three facilities planned for its $600,000,000 Fort Worth campus. The campus will focus on engineering, business, law, and research, ultimately bringing 5,000+ students and faculty downtown and creating significant demand for hotel rooms, conference facilities, retail, and residential units.

2.3 Fort Worth Convention Center Expansion

Two phases:

• Phase 1, $95M (new back of house F&B facilities, new SE entrance facing A&M campus, new loading dock complex, straightening of Commerce St.

• Phase 2, $606M, demolition of 1968 arena, replaced by 74,000 sf exhibit hall, 37,500 sf in new meeting space, 40,000 sf ballroom

The Commerce Street Development will be operationally linked to the expanded facility, sharing convention business, visitor traffic, and public spaces.

3/19/2026 4Fort Worth Commerce Street Development RFP Newly Completed Phase 1 Fort Worth Convention Center Expansion

3 Project Overview

3.1 Project Name & Purpose

• The Commerce Street Development will deliver a full-service, 600-800-key headquarters hotel, parking facilities, active retail frontage, and complementary mixed-use elements that reinforce Fort Worth’s identity as “The Modern West” while embracing cutting-edge technology and sustainability.

3.2 Key Objectives

• Provide sufficient room inventory and meeting space to support the expanded Fort Worth Convention Center.

• Create an architectural icon that reshapes the downtown skyline.

• Activate the street level with fine and affordable dining, boutique retail, vibrant rhythm of store fronts, interactive community spaces, seating areas, public gathering areas, and cultural offerings. See Appendix C “City Vision” for additional details.

• Foster synergy with the Texas A&M campus and broader Innovation District.

• Advance Fort Worth’s goal of becoming a top-tier U.S.

Downtown destination.

• 3.3 CONSTRUCTION TIMELINE

• Fort Worth completed straightening of Commerce Street.

The site is available to the Developer to commence construction of the project. The City’s goal is for the hotel to open at the earliest possible date and ideally approximately coincide with the completion of the Fort Worth Convention Center expansion targeted for Q4 2029.

The Fort Worth Convention Center will remain open for events during construction of the hotel and all construction activity must be completed with minimal disruption to the existing activities within the Fort Worth Convention Center and Texas A&M Campus. Access to streets and walks and surrounding buildings shall remain open to the extent possible.

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4 Site Description

4.1 Location & Boundaries

• The 4.6 acre parcel is bounded by East 9th Street to the north, East 13th Street to the south, Calhoun Street to the east, and Commerce Street to the west. It lies approximately 800 feet from Fort Worth Central Station.

4.2 Physical Characteristics

• Current Use: Surface parking and ancillary convention services

• Topography: Gently sloping (≈2% grade) toward the Trinity River basin

• Utilities: Water, sewer, electric, gas, and fiber located in adjacent ROW

• Rights of Way: Existing alleys may be vacated or incorporated subject to city approval

4.3 Existing Infrastructure & Transit Access

• Central Station: TEXRail to DFW (35 min) | TRE to Dallas (55 min)

• Bus Network: Trinity Metro routes 1, 2, 6, 15, 46

• Streets: Commerce (one way southbound), Calhoun (one way southbound), Houston (northbound), 9th & 14th Streets (east west)

• Bike Lanes & Micromobility: B-cycle station at 9th & Jones; scooters permitted in downtown core

4.4 Environmental & Geotechnical Considerations

• See Attachment H: Geotechnical Reports

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5 Market Context

5.1 Hospitality & Tourism Market Overview

• Fort Worth’s hotel market recorded 64.3% occupancy and an Average Daily Rate (ADR) of $138.17 with a RevPar of $88.84 as of December for the full year of 2025. Fort Worth’s Downtown’s hotel market recorded 69.3% occupancy and an Average Daily Rate (ADR) of $182.51 with a RevPar of $126.56 as of December for the full year of 2025, outperforming national averages. Group travel and leisure visitation are driving growth.

DFW Airport enplaned 40 million passengers in 2024, with 6% utilizing downtown rail access.

5.2 Meeting & Convention Demand Drivers

• The expanded Fort Worth Convention Center will offer 257,000 SF in contiguous exhibit space, two ballrooms (40,000 and 28,381sf), and 66,569 sf in modern meeting rooms, enhancing Fort Worth’s competitiveness for city-wide conventions of 5,000–10,000 peak attendees. Headquarters hotel proximity is critical per competitive set analysis of other like cities: Dallas, Austin, San Antonio, Houston, Louisville, Kansas City, Charlotte, Indianapolis and Columbus.

5.3 Residential & Office Market Snapshot

• Downtown boasts 10,200 residential units (96% occupied) and 14 million SF of Class A office space (87% leased). The Innovation District expects 1.2 million SF of additional office/R&D demand over the next decade, supported by Texas A&M partnerships.

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Fort Worth Downtown Districts

6 Program Requirements

6.1 Mandatory Elements

• Hotel: 600 -800 rooms; 23,000 SF breakout/ pre-function, 30,000 SF ballroom; 20,000 SF junior ballroom and 30,000 SF meeting rooms; pool, spa/fitness, valet parking.

• Retail & Dining: Minimum 30,000 SF ground floor; 60% food-and-beverage (F&B), 40% soft goods/services; at least two price points (fine dining and affordable). Activate development with vitality and attractive choices, See City Vision Appendix C for additional information.

• Parking: Parking necessary to comply with local parking required ratios 1 space per bedroom unit plus 1 space per 4 patron seats in rooms open to public plus 5 spaces per 1,000 square feet of display/ballroom area with EV charging and bicycle storage. Parking may be developed in conjunction with parking to serve Fort Worth Convention Center and A&M Campus.

• Connectivity: Sidewalk activation on Commerce and Calhoun streets with vibrant restaurants and shade protection.

• Brand: Operator with global distribution platform and 4-star or higher service level

6.2 Desired & Optional Elements

• Residential: 250-300 apartments or condos or student housing.

• Office: 150,000–250,000 SF targeting innovation tenants

• Public Realm: 12,000+ SF plaza incorporating art reflecting Fort Worth’s diversity and heritage.

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Concept for Activated Commerce Street

7 Design Guidelines

7.1 Architectural Vision & Skyline Impact

• Respondents must propose a design that becomes an immediate landmark—distinctive roofline, iconic lighting, and a façade treatment visible from I-30 bridges and Sundance Square. Height is unrestricted but should complement adjacent towers (500–700 feet recommended).

7.2 Western Heritage Interpretation

• Design language should abstract Western motifs—e.g., limestone, weathered steel, river-inspired glazing patterns— avoiding pastiche. Opportunities include public art commissions, integrated storytelling, and curated retail.

7.3 Public Realm & Street Activation

• Commerce Street will evolve into a “Festival Street” linking Fort Worth Convention Center, the hotel, and Texas A&M plaza. Active uses must occupy 75% of street frontage length. Outdoor dining and shading devices are encouraged.

7.4 Sustainability & Smart Technology Standards

• LEED Certified minimum; WELL Building certification encouraged.

• Building-wide high-speed Wi-Fi 7, 5G DAS, and IoT guestroom controls.

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8 Development Incentives & Partnerships

8.1 Potential Incentive Programs

• The city is open to creative public-private partnership models, which may include City investment in the project.

• City Incentives can be discussed with the selected developer during contract negotiation.

• Developers are encouraged to creatively plan a multifaceted development with pluralistic revenue streams that pivot toward a financially self-sustaining development.

8.2 Public-Private Partnership Structure

• The city will also consider a PPP, joint venture, or air-rights conveyance models. Respondents should outline preferred structure, public participation requirements, and risk allocation.

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Hotel Development Block Diagram

Hotel Block Diagram

9 Submission Requirements

9.1 Submissions, Format, & Page Limits

To facilitate and expedite the evaluation process, Proposals should adequately address all evaluation factors and include the following list of required items that will be used as part of the evaluation. A Proposal may be deemed to be non-responsive and may be disqualified, at the City’s discretion, if the Proposal submitted don’t contain the required documents.

Proposal format shall be in font no smaller than 12 point, 8.5-inch by 11-inch paper size, with one-inch margins and single-spaced for the entire submitted proposal.

Submissions must be in searchable PDF format, 300 dpi resolution. Failure to adhere to these maximum page limits may result in disqualification from consideration.

• Volume I – Qualifications (max 30 pages)

• Volume II – Design + Program Proposal (max 60 pages incl. graphics)

• Volume III – Financial Proposal (no page limit; include models)

• Legal & Compliance Forms

9.2 Minimum Required Content Checklist

Volume I - Qualifications

• Cover Letter (2 pages max)

• Executive Summary (5 pages max)

• Team Organization & Resumes (Varies)

• Experience and Case Studies (≤10)

Volume II – Design + Program Proposal

• Conceptual Site Plan, Massing Diagrams, and Renderings

• Ground-Floor Activation Plan & Tenant Strategy

• Phasing Schedule & Critical Path

• Sustainability Strategy & Certifications Pursued

Volume III – Financial Proposal

• Financial Structure, Assumptions, and Sources/Uses

• Balance Sheet Capability

• Proposed P3 Terms & Requested Incentives

• Brand Identification

• Hotel Operator

Legal & Compliance Forms

• See page #14 for list of documents

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9 Submission Requirements (cont.)

9.3 Proposal Content

• 9.3.1 Volume I:- Qualifications

a. Cover Letter: Brief Company Overview, Statement of Interest in this project, years in business, current and projected workload within the timeframe of the initial phases of the project, specifically addressing the workload of your project team over the next 36 months, letter must be signed by an officer of the company.

b. Executive Summary: Overall vision for the Project, the Master Developer role, and general business terms needed to effectuate A statement asserting the master developer’s proposed development entity and/or team has the capacity and experience to undertake the proposed development

c. Team Organization & Resumes: A statement identifying the proposed development entity organizational structure and all persons responsible for the performance of the full build out of the proposed development including resumes of proposed project team as well as primary outside consultants, understanding this is subject to change.

The Proposer must provide an organizational chart and detailed information about the Proposer, related entities, and members of its team who will manage and operate the proposed project. The organizational chart shall graphically depict the Proposer’s relationship with any parent organization(s) and/or affiliate organizations or entities.

The Proposer and/or its consultant(s) shall, at minimum demonstrate professional expertise in the following disciplines: Architect, Landscape Architect, Engineer, General Contracting & Construction Management.

Project experience should include details on similar projects completed within the past fifteen years by the project team as detailed below with an emphasis on Fort Worth Convention Center Headquarters Hotel- Oriented Developments.

d. Experience and Case Studies: Provide a description of the most recent mixed-use development projects completed within the last ten

(10) years by the Proposer that are similar in scope and consistent with this solicitation. For each project reference submitted, please include the following information in case study format:

1. Referenced project name, location and photographs

2. Description of key project features

3. Referenced project size (number of parking spaces, square feet, levels, site acreage, etc.)

4. Current status of referenced project

5. Cost of referenced projects including any public agency subsidy

6. Experience in managing referenced project with significant stakeholder outreach and community input

7. Experience in ownership and management of completed development projects

8. Additional information provided for sub-consultants for similar projects will also be evaluated

9. For each project or relevant experience, provide a name, email address and phone number of a contact person with the Client/Owner.

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9.3 Proposal Content (cont.)

9.3.2 Volume II: Design + Program Proposal

a. Concept: Provide a narrative overview of the Proposer’s conceptual ideas of the site, phasing plan, immediate development, horizontal developments concerns and opportunities, amenities at the site with a focus on integration and parking. Include 3-D renderings or something similar depicting overviews of the structures and property, including perspectives from

• North, South, East and West angles. Renderings should also include the architectural elements and features

• as well as outdoor areas for employees, eating spaces and collaborative spaces.

b. Ground Floor Activation Plan & Tenant Strategy: Proposers shall describe how their concept addresses the city’s goals and detailed requirements as set forth in this RFP.

c. Phasing Schedule and Critical Path: Please provide a detailed timeline of entitlement, design, permitting, construction and delivery of all phases of the Project, beginning with material objectives and requirements in the Pre-Development phase through Financial closing and groundbreaking.

d. Sustainability Strategy & Certifications Pursued: City desires to have a sustainable development. Provide an outline sustainability strategy and list of certifications that will be pursued. Include list of similar prior developments that achieved the sustainability goal.

9.3.3 Volume III: Financial Proposal

a. Financial Structure, Assumptions, and Sources/Uses:

Proposer shall provide evidence of financial capability so that a determination can be made that the Proposer can undertake the Project.

b. Balance Sheet Capability: Proposers shall provide evidence of balance sheet capability. The city must see evidence that the ownership entity (including any LLC or the like) has a direct financial link to this balance sheet. Proposers shall demonstrate sufficient liquidity in the form of financial reports to incur up to $1,000,000 of due diligence expenses upon selection, negotiation, and execution of the Exclusive Negotiation Agreement

c. Proposed P3 Terms & Requested Incentives: The City is looking for a collaborative partner for the development that can conceptualize and structure a plan for a development with a degree of financial independence from city revenue. Include proposed P3 terms and requested incentives. Support any requested incentives with consideration for alternative revenue streams as part of the comprehensive development strategy.

d. Community and Economic Benefits: Proposers must demonstrate the community and economic benefits of their development strategy. This includes community enhancements and forecasted increase in business volume of surrounding businesses.

e. Proformas: Provide the hotel’s operating proforma using year three as start year include construction budget, and sources & uses. The programming “optional elements” (residential and office) also require a proforma and budget if respondents include these elements.

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9.3 Proposal Content (cont.)

9.3.3 Volume III Financial Proposal (Cont.)

d. Brand Identification; Provide a detailed overview of the proposed development concept(s) that will be considered by the Proposer, including a list of the hotel brands that will be considered for the Project, ground-level commercial space, and parking. The response should highlight the Proposer’s experience with these types of developments and their relevance to Fort Worth. Please provide the following:

• 1. How the Developer plans to select the hotel concept/ brand that will be used for the hotel and when in the process this would occur,

• 2. Detail how the Developer has executed successful hotel brand selection in the past and how this has factored into the potential receipt of key money to assist in upfront financing of the hotel, Provide evidence that the hotel brands under consideration would seriously consider entering into an agreement with the Developer to be the hotel brand for the Project.

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e. Hotel Operator: The Developer must provide an overview of the management company, or companies, that will be targeted to staff and operate the property. Please articulate how the Developer would identify the optimal management company for the hotel and when during the process this would occur. Please disclose any common ownership or affiliate relationships between the developer/project entity and the proposed or targeted hotel management company(s).

The following information should be provided for each company.

• 1. Brief history of the management company,

• 2. Performance of the management company,

• 3. List of comparable properties managed by the company, and

• 4. List of three references for each company

9.3.4 Legal & Compliance Forms

• RFP-04-CFW Forms (W-9/Conflict of Interest Questionnaire)

• Signed Addendum(s)

10 Evaluation & Interview Selection Process

10.1 Evaluation Criteria

In evaluating the Proposals, the city will consider the quality and strength of the following:

1. Experience and Qualifications: Experience, qualifications and performance on past projects of similar quality, complexity and size as well as experience of the Proposer.

2. Financial Stability and Capability: Demonstrated financial stability and capability of the Proposer.

3. Understanding of and ability to meet the city’s objectives as stated in this document.

10.2 Evaluation Criteria & Weighting

Category Weight

• Vision & Design Quality 25%

• Financial Feasibility 25%

• Developer Experience 20%

• Community and Economic Benefits 15%

• Public Contribution Justification 10%

• Sustainability and Innovation 5%

• TOTAL 100%

*Pricing will not be evaluated

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10 Evaluation & Interview Selection Process

10.3 Process & Tentative Schedule:

• Milestone Dates (2026)

• RFP Release 3.23.2026

• Site Tour & Pre-Proposal Conference 4.7.2026

• Questions Deadline 4.17.2026

• Question Response Deadline 5.6.2026

• Proposals Due (2 p.m. CT) 6.18.2026

• Finalist Interviews (Tentative) 8.10.2026

10.4 Interviews & Due Diligence

• The three Developers with the highest score in the initial evaluation will be selected to be interviewed.

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Innovation District Precedent

11 Appendices

Appendix A – Map of Project Area & Context

• High resolution GIS map depicts project site, Fort Worth Convention Center footprint, Texas A&M campus, Central Station, Sundance Square, Cultural District, and Stockyards. Site Plat. Parcel Ownership Map.

Appendix B- Fort Worth Developer- Market Overview Presentation

• Document provides a high-level overview of the context of the Commerce Street development

Appendix C- City of Fort Worth Vision Statement

• Document prepared by Con-Real as a summary from a series of stakeholder meetings. This document conveys the city of Fort Worth’s vision statement to potential developers.

Appendix D- Hunden Hotel Study –(excerpt)

• Hotel study prepared by Hunden Partners based on the additional Fort Worth convention center capacity and impact of surrounding investments.

Appendix E – Fort Worth Convention Center Expansion Summary

• Phase 1 (2024 2026): Utility relocation, loading docks, exhibit halls

(360,000 SF)

• Phase 2 (2026 2029): Arena demolition, new 60,000 SF ballroom, meeting rooms

Appendix F – Texas A&M–Fort Worth Campus Overview

• 3 buildings, 800,000 SF campus

• Law & Education Building (2025), Research & Innovation Building (2027), Gateway Building (2028)

• Estimated 5,200 daily population at full build out

Appendix G – Fort Worth Development Services

• Fort Worth Planning and Development Project Approval Flow Chart and Check List, Fort Worth Downtown Design Standards, Business District Zoning

Appendix H- Geotechnical Engineering Report,

• Phase 1 and Phase 2 Reports

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