Bob on Business: High-rise tops out in downtown Fort Worth. Are more on the way?
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The Deco 969 high-rise at 969 Commerce St. recently held topping-out ceremonies and it’s preparing to welcome the first residents to the 27-story, 302-unit building early next year.
And more may be on the way. The company behind Deco 969, Nashville-based Southern Land Co., says downtown Fort Worth is very attractive for residential development at the moment.
“We would love the opportunity to bring more luxury living options to the downtown core, even if we haven’t yet been able to find the right site to pursue another development – yet,” said Britt Stafford, communications coordinator for the firm.
Stafford said developments like Texas A&M’s expansion in Fort Worth is creating a lot of interest in quality residential options downtown. The company is also seeing growing interest from prospective residents for its Deco 969 project.
According to Downtown Fort Worth Inc., there are 6,153 multifamily units in downtown Fort Worth and there are 840 currently under construction. There are also 205 senior living spaces planned for the Public Market building at 1400 Henderson St.
Other projects are also taking shape.
Bluelofts Inc., the Dallas group that last year acquired the Oil and Gas Building at 307 W. 7th St., has recently closed on the purchase of the adjacent Star-Telegram building.
Bluelofts, which specializes in the adaptive reuse of historic properties, plans to use both state and federal historic tax credits for the buildings.
When Bluelofts announced the Oil and Gas Building plans, officials there said it plans 180 upscale apartments with retail on the ground floor. The group also plans to make similar changes to the 19-story Star Telegram building. Both buildings will have the same leasing office and management.
Also expected to become apartments is the 16-story former Oncor building at 115 W. 7th St. It was acquired by 3L Real Estate out of Chicago and plans call for a retrofit of the building with about 330 apartments.
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