RFP Commerce Street Development

The City of Fort Worth is soliciting proposals through Request for Proposal (RFP) 26-0159 for the Commerce Street Development, a transformative mixed-use landmark project on a 4.6-acre downtown site. The primary deliverable is a full-service headquarters hotel with 600–800 rooms, complemented by 23,000 square feet of breakout/pre-function space, 30,000 square feet of ballroom, 20,000 square feet of junior ballroom, 30,000 square feet of meeting rooms, pool, spa, fitness center, and valet parking. The project also requires a minimum of 30,000 square feet of ground-floor retail and dining (60% food-and-beverage, 40% soft goods/services), parking compliant with local ratios, and optional elements including 250–300 residential units and 150,000–250,000 square feet of office space. The RFP was released on March 23, 2026, with a site tour and pre-proposal conference scheduled for April 7, 2026, a questions deadline of April 17, 2026, and a proposal due date of June 18, 2026 at 2:00 p.m. Central Time; finalist interviews are tentatively scheduled for August 10, 2026, with preferred developer selection targeted for August 21, 2026, and construction to commence immediately with project completion ideally by Q4 2029. Evaluation criteria are weighted as follows: Vision & Design Quality (25%), Financial Feasibility (25%), Developer Experience (15%), Community and Economic Benefits (15%), Small Local Business Utilization (10%), Public Contribution Justification (5%), and Sustainability and Innovation (5%). Pricing will not be evaluated as part of the selection process; proposals receiving less than 50% of total available points will not be considered for award. Respondents must demonstrate financial capability to incur up to $1,000,000 in due diligence expenses and provide evidence of balance sheet capability, and the City is open to creative public-private partnership models and City investment during contract negotiation.

The City of Fort Worth has established a mandatory 30% small business participation goal for this contract, which may be met through prime contractor self-performance as a certified small business, utilization of certified small business subcontractors, or a combination of both; small businesses must be located in Tarrant, Wise, Johnson, Parker, or Denton County and hold current certification from an organization approved by the City Manager. All proposers must complete required forms including Form W-9 (Request for Taxpayer Identification Number and Certification), a Conflict of Interest Questionnaire as mandated by Texas Local Government Code Chapter 176, an Authorized Signature and Questionnaire form, and a Small Business Utilization form with current certifications for all small businesses to be credited toward the small business goal. No existing incumbent vendor is identified for this new development project. The project must comply with Downtown Urban Design Standards and Guidelines (DUDSG), which establish minimum three-story building heights on Commerce Street and brick sidewalk standards, and must integrate with the Fort Worth Convention Center expansion (Phase 1 scheduled for completion in Q1 2026 with total expansion completion targeted for Q4 2029), the Texas A&M-Fort Worth campus expansion (an adjacent $600 million urban research campus development), and Central Station transit access. The Hunden Strategic Partners feasibility study projects a development cost of approximately $700 million with a financing gap of approximately $296 million, and estimates that over 30 years, the combined convention center expansion and hotel development will generate $6.7 billion in total net new spending, $2.1 billion in net new earnings, support 1,150 new full-time equivalent jobs, and produce $537.8 million in capturable city taxes.