The Last Word: JLL’s Todd Burnette On How Fast Fort Worth is Expanding — ‘Even By Texas’ Standards’

We’re in the early stages of what’s happened in Austin.

Todd Burnette
Managing Director, Fort Worth
how fast Fort Worth is expanding, “even by Texas’ standards,” via the Wall Street Journal.

$2.3 billion in real estate projects are in the pipeline or currently under construction in Fort Worth, said Todd Burnette, Managing Director at JLL, drawing parallels to Austin in the Wall Street Journal.

John Goff’s $275 million mixed-use development, Crescent Fort Worth, and the urban research campus by the Texas A&M University System are some of the notable projects in progress.

The tech sector is also marking its presence in the city, with the video game company ProbablyMonsters planning to open a second office in Fort Worth, bolstered by a $1.5 million incentive package from the city council, according to the publication.

According to the Wall Street Journal, Fort Worth has maintained a steady office-vacancy rate of around 13% throughout the pandemic, contrasting with other cities who have wrestled with high vacancy rates.

Fort Worth Mayor Mattie Parker notes the city’s draw, saying, “it’s not uncommon that when we’re competing, we’re competing with other Texas cities, not other states.”

But the appeal isn’t confined strictly to the business friendly environment or CRE market. As Burnette told the WSJ, “You can buy quite a spread [in Fort Worth] for what you’re selling your 2,000-square-foot house for in another locale and getting a pool and two-car garage on half an acre.”

Read more in the WSJ article.

For more of who said what about all things North Texas, check out Every Last Word.

Get on the list.
Dallas Innovates, every day.

Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.

One quick signup, and you’re done.

R E A D   N E X T

  • Slated to be built in Fort Worth's Historic Southside neighborhood, the planned $70 million museum will get the city funding once the balance for the project has been raised. Designed by the New York office of Denmark-based Bjarke Ingels Group, the building will house the museum on its second level, with a business incubator, restaurant, 250-seat amphitheater, and storefronts at ground level. “Literally and figuratively, it was designed to be a beacon of light in an area that has been dark for a very long time,” says Jarred Howard, principal of the project's developer.

  • Entrepreneurs and industry leaders benefit from the city's business-friendly approach.

  • Rhithm, a Dallas social-emotional learning and mental health startup, raised $4 million in a seed round last year for its emoji-based bio-social assessments app, which is now used by over 2,400 schools in 29 states, according to the company. One district that adopted the app is Fort Worth ISD—and it recently announced a change in how the app will be used.

  • A new marketing campaign from Visit Fort Worth is called "The Unexpected City"—and a very unexpected voice is at the heart of it: legendary Hollywood actor Jimmy Stewart. Stewart passed away in Beverly Hills back in 1997. So how could a 2023 ad campaign snag the voice of an actor who's been gone for decades? Well, doggone it, hold your horses and you'll find out.