A $150 million, 27-story luxury apartment building recently opened in Downtown Fort Worth on 969 Commerce St., and if the venture proves successful, it could lead other developers to pursue similar projects.
The luxury apartment building, Deco 969, was created by Nashville-based Southern Land Company LLC and is the first large high-rise residential development downtown Fort Worth has seen in over 30 years.
Management began leasing apartments in April, and 16% of the 302 units are already filled. The building is not completely finished, but rooftop amenities such as the pool, outside kitchens, and lounge areas are ready for tenant use. Also in the works is a steak and seafood restaurant, which will occupy 8,500 square feet on the ground floor.
Penthouses on the top floors of the 567,000-square-foot tower are still under construction but are nearing completion.
Tiffani Larson, the community manager of Deco 969, said the amenities do not stop at the outside pools and sitting areas. Deco 969 will also have a doorman who acts as security and a beverage manager who offers various drinks to tenants and guests.
However, Ronan Kearney, senior vice president and head of property management at SLC, said the goal is not simply to stuff as many amenities as possible into the development.
“What follows is like, ‘Gosh, you know, people love outdoor space, how do we create something that excites them and energizes them?'” he said, per WFAA.
“How well this building performs is critical, because if we do well, other people will develop. If we don’t do well, it will get bogged down right here,” Tim Downey, founder and CEO of Southern Land Company LLC, told WFAA.
According to the Deco 969 website, rental rates for the apartments range from $2,000 to $6,000 a month.
The apartment tower is centrally located, with easy access to many shopping and dining options, including Ruth’s Chris Steakhouse and Del Frisco’s Double Eagle Steakhouse.
“So many people live in downtown Dallas. That is not the case for downtown Fort Worth. So we’re really setting the stage for something amazing,” Larson said.