Seems to me the biggest associated with the loss of XTO HQ is the fact that 1,600 locals earning presumably decent incomes and working in downtown Fort Worth will soon be gone. There will probably be additional job losses downtown owing to a reduced need for allied business services. This is could have a negative impact on the downtown real estate market for condos and town homes. Hotel business (surely XTO attracted considerable business travel to Fort Worth) is likely to take a hit. The XTO office buildings might prove to be a difficult sell to new business tenants. I know they have been modernized, but I suspect that they are still rather eccentric by modern office building standards. Hotel and condo conversion might be just the ticket for some of the buildings, but first there has to be a demand for the product. Downtown Fort Worth needs to find a way to become a more desirable place for corporate tenants both large and small. The Dallas side of the metroplex has become so sprawled out and developed with major corporate relocations. It seems to me that it is time for downtown Fort Worth to make a sustained effort to tap into that momentum. I sincerely hope that the Fort Worth plutocracy will endorse those efforts and use their considerable influence to help attract new business relocations (corporate HQ or regional HQ) to downtown Fort Worth. Tourism is all well and good, but it does not provide for lots of high paying jobs that can help sustain the development of new housing and office development in downtown.
austlar1Member Since 25 Dec 2012
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25 Feb 2017 - 22:01