New Development: Currently, locals look forward to the numerous exciting developments in planning including the residential Ariston, Alexan Summit, Broadstone 5th and Summit, Kent, Hampton and Houston Street Residential Apartments; projects which will bring over 1,500 new residential units to the burgeoning submarket. Other projects include Frost Tower (office), Hampton Inn and Suites (hotel), XTO Energy Parking Garage, and the Hemphill/Lamar Connector which will renew and broaden the local street networks to four-lanes and extend to I-30 to the south. These, as well as other developments, will sustain and grow Downtown Fort Worth’s vivid and captivating appeal and draw for decades to come.
Rent Comps: The featured properties in this month’s rent survey are local communities built between 1996 and 2016. Occupancy rates for the communities range from 70% to 94%, whereas Hunter Plaza is at 70% due to its initial lease-up period. Average rental rates per square foot range from $1.49 to $3.26, with average unit sizes ranging from 685 to 1,211 square feet. Common area amenities include business and fitness centers, swimming pools, secured hall entry, clubhouses, parking, and on-site laundry facilities. Unit amenities include high ceilings, stainless steel appliances, renovated kitchens and baths, washer/dryers, dual-pane windows, granite countertops, and in select units, fireplaces. Application fees range from $20 to $200 and security deposits range from $50 to $500.