In a city that’s bursting at the seams with new projects, fort worth construction company continues unabated. The Fort Worth Convention Center is upgrading with a $140 million project that will add state-of-the-art food and beverage facilities, demolish an outdated 1983 annex, increase loading docks by half and realign Commerce Street to create a site pad for future hotel development. The project should be completed by 2026.
Across downtown, construction is booming for multifamily and hotel projects. Almost all of the projects are expected to be finished over the next seven years and will add more than 3,000 residential units and nearly 2,000 hotel rooms. Those numbers are expected to double by the end of 2023.
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The city of Fort Worth is also getting a modernized government center. Last week, the city council approved a deal to buy the Pier 1 Imports tower that has housed the city’s offices since 1971. City Manager David Cooke says the move will allow the city to get more space for half the price and in half the time of building a new facility.
The city is also increasing fees on new homes to help pay for expanding and resurfacing roads in one of the nation’s fastest-growing big cities. Starting June 1, builders will have to pay 50% of the cost of constructing streets in their neighborhoods. By 2023, the fee will rise to 65%. That’s an increase of $10 per square foot, and is expected to add more than $7,500 to the cost of a new home.