$850 million residential community coming west of Fort Worth

Developers say they have received final approvals for a huge new residential community being built on Fort Worth’s west side.

The $850 million, 700-acre Morningstar development is being built north of Interstate 20 in Aledo.

More than 2,000 houses are planned in the project which is just starting construction.

The first homes in Morningstar – priced from the mid-$200,000s to the mid-$400,000s – will be ready next year.

Read more on the Dallas Morning News

Frost Bank signs big deal at new downtown Fort Worth tower

On the heels of announcing plans to build a new 25-story office tower in downtown Fort Worth, Frost Bank has signed a big lease for the building, making this the second Frost Tower to land in Dallas-Fort Worth.

The first Frost Tower recently was completed in the Harwood District and has leased up rather quickly.

Frost Bank will occupy the lobby-level banking facility and move its regional headquarters and other lines of business to the three upper floors in the tower.

In all, Frost Bank will have more than 175 people working from the tower with room for expansion. In addition to the bank’s 87 corporate employees that will move from its offices at 777 Main St., Frost will relocate more than 90 employees to the tower, including Frost Wealth Advisors, Frost Insurance and the bank’s finance and treasury management.

Galderma looking to expand its U.S. headquarters in Fort Worth, add 342 new jobs

Fort Worth-based Galderma Laboratories LP would like to expand its U.S. headquarters with a new 100,000-square-foot facility in the Interstate 35W corridor in north Fort Worth that could become home to 342 new jobs.

But the deal is contingent on state and local economic incentives, which have yet to be approved.

The international manufacturer of dermatological products could also choose to expand its operations with a new facility in Granbury, New Jersey.

Read More Here on the Dallas Business Journal

Stockyards redevelopment would include new restaurants, hotel, festival areas

Owners of a large part of the Historic Stockyards in Fort Worth have big plans to redevelop the area.

The historic, but neglected Mule Barns at the Fort Worth Stockyards would become the 180,000-square-foot home of restaurants, shopping and offices, according to plans revealed Tuesday by developers in Fort Worth.

According to the Fort Worth Star-Telegram, the development would comprise 70 acres and roughly 800,000 square feet of new space.

Read More Here on the Dallas Business Journal

Fort Worth’s apartment rent growth breaks record at 6.8% annual gain

Fort Worth’s annual effective rents grew 6.8 percent year-over-year in March, which is the city’s highest rent gain in the current real estate cycle, according to research from Addison-based Axiometrics.

Meanwhile, the annual effective rent growth for the same time period in Dallas reached 6 percent. Dallas and Fort Worth’s annual rent increases surpass the national effective rent growth of 5 percent.

Read More Here on the Dallas Business Journal 

Fort Worth Apartments, Now Essentially Full!

As of year-end, occupancy in Fort Worth’s major apartment sub-markets were all above the 94-95% threshold. Not surprising, this high demand has been driving rents. In the last year Fort Worth apartment rents have increased 6.7%, with newer units up 7.8% (these newer units now average more than $1,100 per month). This rent growth is even outpacing the solid rent gains we are seeing on the Dallas side of the Metroplex.

In addition, Fort Worth added almost 29,000 jobs last year alone. Fort Worth’s job base has consistently increased, with 107,000 jobs added (12.5%) since the end of 2010.

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