1105 CALHOUN ST Fort Worth TX 76102

and walkable downtowns in Fort Worth, Texas. In fact, Downtown Fort Worth was recently named the #1 Downtown in America thanks to its low unemployment rate, high occupancy rate of both residential and retail and the bounty of museums, parks and entertainment venues. Additionally, Fort Worth is one of the fastest growing cities in America and its downtown is home to over 1,400 companies employing more than 45,000 in just over 14 million square feet, including Range Resources, Freese and Nichols, Oncor and General Motors Financial Company.

The ±1.71 acre Property consists of three separate tax parcels and is one of the few privately-owned revenue-generating parking lots in the Central Business District. It is an ideal size, encompassing nearly a full city block, 200 feet wide by 360 to 400 feet deep. The highest and best use of the property may include hotel, office and/or residential with retail at the ground level. Among other possible economic incentives, the Property is within the Downtown TIF District #3 which has available funding capacity.

Located just seven blocks from the heart of the nationally acclaimed Sundance Square, 1075 Calhoun is a connecting parcel that will complete the streetscape along 9th Street from the Convention Center entrance at the terminus of Main Street east to the Fort Worth Intermodal Station. The Intermodal Station is an important transportation hub that provides convenient and direct access to downtown Dallas via the Trinity Railway Express (TRE) and DFW Airport via the TEXRail. Additionally, plans for future high-speed rail are currently in the works and will be a “game-changer” for downtown Fort Worth.

Demand for downtown Fort Worth real estate continues to climb attracting strong investment with $362 million in construction permits from 2018-2020, including a 26-story, 283-unit luxury high-rise scheduled to break ground in October 2021. That project is directly across the street at 901 Commerce and is being undertaken by a nationally recognized, best-in-class developer. There are currently over 2,000 residential units planned or under construction in Downtown Fort Worth, and this is only expected to increase as more jobs are created in the Central Business District. Additionally, there are over 800 hotel rooms currently planned or under construction, including Avid Hotel, Kimpton Harper Hotel, Sandman Signature and Le Meridien. Hotel occupancy taxes hit an all time peak in 2019 and are expected to rebound strongly over the next year.

Southeast downtown Fort Worth, is transitioning, and is expected to continue the strong momentum it has seen since the development of the acclaimed Omni Hotel and Convention Center. 1075 Calhoun represents a unique opportunity to acquire a strategic piece of legacy real estate in one of the fastest growing and most popular downtowns in America.

Land Area: ±1.71 acres / ±74,500 square feet

Existing Zoning: Mixed-Use Central Business ("H") District

Potential Density & Height: Unrestricted

Public & Franchise Utilities: All available to the Property

Frontage: ±400 feet along Calhoun Street; ±360 feet along Jones Street; ±200 feet along 9th Street

Income from Parking Revenue: $184,109 in 2018; $190,623 in 2019; $86,876 in 2020; $17,765 as of June 2021

WALKABLE URBAN DISTRICT: Downtown Fort Worth was recently voted America’s #1 Most Walkable Downtowns. The heart of downtown is Sundance Square, a 35-square-block shopping and entertainment district which is only 7 blocks from the Property. Some of DFW’s most popular restaurants, museums and entertainment venues are within a 5-to-7-minute walk, including the Bass Performance Hall, the Sid Richardson Museum, the Fort Worth Water Gardens, Bob’s Steak and Chop House, The Capital Grille and the celebrated Reata Restaurant. Additionally, the Trinity River Trails are accessible just ½ mile north of the property past the Tarrant County Courthouse. The Trinity Trails provide over 100-plus miles of running, biking and pedestrian trails providing access to recreation destinations along the river and throughout the city and activities such as urban fishing, kayaking, paddle boarding and outdoor concerts.

IN-PLACE HIGH-DENSITY MIXED-USE ZONING: Currently zoned Mixed-Use Central Business “H” District, the property is within one of Fort Worth’s most favorable zoning ordinances allowing for a variety of uses including hotel, office, multifamily, age-restricted and retail with no maximum density or height restrictions. This high-density zoning provides an efficient path forward without requiring additional zoning approvals to achieve a market-driven signature development. Assuming a Floor Area Ratio of 10, the site would accommodate over 744,000 square feet of net rentable area.

INCOME PRODUCING PARKING LOT: The Property has historically produced $185,000 to $190,000+ per year in parking revenue through a lease arrangement with Parking Systems of America. Since mid-2020 the lease has been amended to percentage only rent providing nearly $87,000 in 2020 and nearly $18,000 through June-2021.

TAX INCREMEMENT FINANCING DISTRICT: The Property sits within the Fort Worth Tax Increment Financing District #3 which was created on December 19, 1995 by the Fort Worth City Council in order to attract investment and redevelopment of property in downtown Fort Worth. The Downtown has developed into the City’s premier mixed-use district, where thousands of employees, residents, tourists and other visitors spend time and money. The TIF District is enhanced by proximity to several recently renovated public parks, include the Fort Worth Water Gardens, Burnett Park and General Worth Square. The TIF district also benefits from its inclusion in Fort Worth Public Improvement District Number One, a $2 million annual effort that provides maintenance, security, marketing and research services to Downtown. Some of the uses the TIF District can be used to finance are public parking, upgrading public infrastructure and streetscape improvements.

TRANSIT-ORIENTED DEVELOPMENT POTENTIAL: The Property is located directly across the street from the Fort Worth Central Station which provides bus and commuter rail service throughout Fort Worth and the Metroplex. Fort Worth Central Station opened January 12, 2002 and offers access to commuter rail service on Trinity Metro TEXRail and the Trinity Railway Express (TRE), as well as regional and national Amtrak train service, taxi and bus service is provided by Trinity Metro. The Regional Transportation Council (RTC) is evaluating high-speed transportation alternatives to modernize and enhance mobility between Dallas and Fort Worth. Two modes are proposed to be carried forward: high-speed rail and hyperloop. The North Central Texas Council of Government’s Metropolitan Transportation Plan, Mobility 2045, includes high-speed rail transportation between Dallas and Fort Worth as a future transportation choice, to accommodate the expected population exceeding 11 million by 2045.

EFFICIENT & IDEAL DIMENSIONS: The Property encompasses over 1.7 acres and nearly 2 city blocks in a rectangular shape. The frontage along 9th Street is 200 feet while the depth of the property along Calhoun Street is 400 feet and 360 feet along Jones Street. One typical city block in Downtown Fort Worth is 200 feet by 200 feet.