I spoke to a friend in Midland tonight, he seemed pretty confident this project will pass through, unless there will be a catastrphic event in the economy of oil and gas industry. The planning for this has been going on for some time. The CBD in Midland has about 1.75 million s.f. of class A office space. It has less than 15k vacant and the demand is growing. Class B+ is has no vacancy. There is about a 90% occupancy of all the total office space.
Since Ft. Worth architect, Wyatt Hedrick, designed the Petroleum Building in the late 1920s (12 stories when the city had less than 5000 people) Midland has been know as the "Tall City". If Fort Worth had not built the CNB building in the latter half of the 1950s, Midland would have topped FW when they built the Wilco Tower in 1958. Midland's oil based economy has inhaled and exhaled at least three times since WWII, however this boom may outlast the previous ones with new energy consuming nations that did not exist in the previous upswings. Midland has always been a white collar city, unlike its neighbor twenty miles to the west, Odessa. Midland is filled with many upscale neighborhoods, outside of oil and gas supply warehouses and services, there is no petrochemical plants or refining in the city.
As far as Fort Worth being "eclipsed" by one building in a city 1/5th its size, Fort Worth remains light years ahead of Midland, and always will. Living in metro Kansas City, I am constantly hearing people marveling over Fort Worth, especially downtown. When KC had a bond election to help finance the $850 million dollar Power and Light District in our downtown, The pro bond commercials featured FW as a model downtown and an example of what we could be. Not to mention several of our local new crews went to FW to film Sundance Square and downtown. Not Austin, not Dallas, not Houston, not even San Antonio, it was Fort Worth. Fort Worth may not have a Devon Tower like OKC but the downtown is amazing and unique.