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Deco 969 - 27 Floors, 315 ft. - 969 Commerce St.

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#701 John T Roberts

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Posted 21 March 2023 - 08:13 PM

Finally, here are the photographs from Sunday, March 19, 2023.

52763488274_4cdeabbfd0_k.jpgdeco969-03-19-23-1 by jtrobert, on Flickr

 

52763240031_a171427947_k.jpgdeco969-03-19-23-2 by jtrobert, on Flickr

 

52763239986_191df1efc2_k.jpgdeco969-03-19-23-3 by jtrobert, on Flickr



#702 Nitixope

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Posted 21 March 2023 - 08:27 PM

Wow, the exterior crew doing glazing and facade are not too far behind the structure at all.

#703 John T Roberts

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Posted 21 March 2023 - 08:56 PM

As of Sunday, they were on the last full floor of the building, with only four more to go.  This isn't the complete facade.  The metal panels have yet to be installed. 



#704 Austin55

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Posted 21 March 2023 - 09:26 PM

Great shots, John.

#705 John T Roberts

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Posted 21 March 2023 - 09:43 PM

Thanks, Austin.  Does anyone know when the official topping out will be?



#706 Nitixope

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Posted 26 March 2023 - 07:54 PM

Here's a couple I took this evening:

 

V7WLwch.jpg

 

qJeIICa.jpg



#707 JBB

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Posted 26 March 2023 - 08:29 PM

Drone shots?



#708 Nitixope

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Posted 26 March 2023 - 09:09 PM

Drone shots?

 
Yes sir.  The drone still had some juice left in it, I was shooting a project in Ennis Friday and a storm rolled through around noon so I didn't get as much use out of it as I had hoped.  The weather tonight was ideal.

#709 John T Roberts

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Posted 26 March 2023 - 09:31 PM

I haven't posted my pictures from this weekend, but I did notice from both of our photographs that the forms have been removed on the elevator/stair core overrun on the roof and one more set of rebar has been placed on another column above the roof on the west side of the building.



#710 johnfwd

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Posted 27 March 2023 - 12:47 PM

Beautiful building.



#711 John T Roberts

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Posted 27 March 2023 - 12:51 PM

It will look better with a top on it and the facade completed.



#712 Nitixope

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Posted 27 March 2023 - 01:02 PM

It will look better with a top on it and the facade completed.


Top with lantern will be extra special at night.

#713 John T Roberts

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Posted 27 March 2023 - 02:24 PM

We know from the DDRB package that the top will have a lantern on it, but it will be nice to see how the rest of the building is illuminated.



#714 John T Roberts

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Posted 27 March 2023 - 08:03 PM

Here are my photographs taken on March 25, 2023.  Even though it is hard to tell with the crane in the background, you can see that there are now two rebar cages on the front facade of the building in the center bay.

 

52776466870_1303ee199b_k.jpgdeco969-03-25-23-1 by jtrobert, on Flickr

 

52775521457_6cec1b2c68_k.jpgdeco969-03-25-23-2 by jtrobert, on Flickr

 

52776057531_27c620801e_k.jpgdeco969-03-25-23-3 by jtrobert, on Flickr



#715 Nitixope

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Posted 27 March 2023 - 09:08 PM

John, that last shot has a really cool perspective with the red bushes and other building in the foreground.

#716 John T Roberts

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Posted 27 March 2023 - 10:00 PM

Thank you.  Those are red tip photinias.  New growth has red leaves.  The building on the left is Mt. Gilead Baptist Church and the building on the right is the Press Building.  (Former home to the Fort Worth Press.)  The Press Building is one of those that was expanded vertically.  You can tell by the miss-matched brick on the back side.  It was built as one story and expanded upward by a floor.  The buildings in the back are all on Calhoun Street.  (Hampton Inn, Deco 969, Winfield Place, and the Binyon-O'Keefe Warehouse)



#717 John T Roberts

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Posted 30 March 2023 - 12:56 PM

According to the Fort Worth Business Press, Deco 969 topped out last week.  Here's a link to the story:

 

https://fortworthbus...s-by-years-end/



#718 Nitixope

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Posted 30 March 2023 - 01:18 PM

According to the Fort Worth Business Press, Deco 969 topped out last week.  Here's a link to the story:

 

https://fortworthbus...s-by-years-end/

 

For as much posting that SLC and their superintendent do on social media, they sure passed on the opportunity to highlight this milestone.  Wondering, did FWBP get an advance notice on the story and jump the gun with their publication date?

 

"The term "topping out" refers to the placement of the last structural steel beam or concrete slab on the topmost part of the building."



#719 John T Roberts

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Posted 30 March 2023 - 01:31 PM

I was wondering the same thing about the Fort Worth Business Press article.  From what I can see from the street, it appears that the concrete roof over the elevator overrun was left to be poured and the pouring of the columns and beam on the front facade of the building.  Both of these elements are structural.



#720 John T Roberts

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Posted 02 April 2023 - 06:09 PM

A little more work was visible on Deco 969 this week.  The columns on the front facade where the rebar had been placed have now been poured.  On one of them, the form work has been removed and the concrete is exposed.  On the back side of the building, it appears the concrete slab for the roof of the elevator overrun has been poured.  One final observation from the rear of the building is that the framing for the roof screen has also been erected.  It appears this is steel.

 

52788906396_d2d6a481ac_k.jpgdeco969-04-02-23-1 by jtrobert, on Flickr

 

52789138024_a0293f87eb_k.jpgdeco969-04-02-23-2 by jtrobert, on Flickr



#721 Austin55

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Posted 05 April 2023 - 01:33 PM

Topping out video shared by SLC on LinkedIn.

 

https://www.linkedin...=member_desktop



#722 John T Roberts

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Posted 09 April 2023 - 05:49 PM

Now the building visibly appears to be topped out.  I didn't take pictures on the Walking Tour, so I went back this afternoon to take them.

 

52804843392_bc1c6bcf85_k.jpgdeco969-04-09-23-1 by jtrobert, on Flickr

 

52805849323_e924c80d35_k.jpgdeco969-04-09-23-2 by jtrobert, on Flickr



#723 Austin55

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Posted 09 April 2023 - 07:23 PM

Looks like a trapeze beam on the West side

#724 Nitixope

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Posted 09 April 2023 - 09:40 PM

Looks like a trapeze beam on the West side

 

That caught my eye too on Saturday morning.  I'm probably way off with this, but my first impression was perhaps the opening of the light box here is large enough to allow future mechanical equipment to be moved in and out through this opening.  Perhaps now using the tower crane or in the future using a helicopter.  

 

jRVtoBA.png



#725 fortworth81

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Posted 10 April 2023 - 05:30 PM

How tall are the upper floors, can you guys tell?  I couldn't quite make it out on the plans.



#726 Nitixope

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Posted 10 April 2023 - 09:10 PM

How tall are the upper floors, can you guys tell?  I couldn't quite make it out on the plans.

 

WvIiW5T.png



#727 John T Roberts

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Posted 16 April 2023 - 05:46 PM

I went back to take this week's construction photographs.  The work on the facade is still moving upward.  At the top of the building, the roof screen framing now connects the elevator overrun with the central columns and beams on the Commerce Street facade. 

52823051729_0b3ad574c4_k.jpgdeco969-04-16-23-1 by jtrobert, on Flickr

 

52822311642_c2179027c2_k.jpgdeco969-04-16-23-2 by jtrobert, on Flickr



#728 Austin55

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Posted 20 April 2023 - 03:24 PM

DBJ: Southern Land Company will seek land for another luxury tower in Fort Worth

https://www.bizjourn...xury-tower.html

#729 Nitixope

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Posted 20 April 2023 - 06:39 PM

This is good news.

#730 Jeriat

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Posted 20 April 2023 - 09:38 PM

DBJ: Southern Land Company will seek land for another luxury tower in Fort Worth

https://www.bizjourn...xury-tower.html

 

Not like downtown is lacking in land. 

PLENTY of options . . . 


7fwPZnE.png

 

8643298391_d47584a085_b.jpg


#731 Crestline

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Posted 21 April 2023 - 06:26 AM

Not like downtown is lacking in land. 

PLENTY of options . . . 

 

I agree with you, but oddly their CEO does not:

 

“Once we prove it out then others will probably try to follow, but there just isn’t much land to do it in,” said Tim Downey, CEO of Southern Land Company. 

 

He must have some specific criteria beyond "surface parking lot" because we sure have plenty of those downtown.

 

In any case, yeah, this is great news. Southern Land Company should start on two more towers, not just one!



#732 Nitixope

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Posted 21 April 2023 - 08:10 AM

I ran a new dataset from TAD this morning and cross-referenced the owner address for Deco 969 "3990 HILLSBORO PIKE STE 400" and was not able to locate any new record entries (yet).  I also cross-checked their account # without any success.  I'll check back on this periodically and report back here.

 

I also checked the Tarrant County property records search by "Mailing Address" and only found Deco 969 entry: https://taxonline.ta....PayStatus=Both



#733 NThomas

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Posted 21 April 2023 - 08:22 AM


Not like downtown is lacking in land. 
PLENTY of options . . . 

 
I agree with you, but oddly their CEO does not:
 

Once we prove it out then others will probably try to follow, but there just isnt much land to do it in, said Tim Downey, CEO of Southern Land Company. 

 
He must have some specific criteria beyond "surface parking lot" because we sure have plenty of those downtown.
 
In any case, yeah, this is great news. Southern Land Company should start on two more towers, not just one!
I think this would be good time to review this thread (https://www.fortwort...?showtopic=6390) and remember just how consolidated the ownership of downtown is already (and the land cost basis may not always be feasible at the point they're willing to part with it to a developer).

#734 Austin55

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Posted 21 April 2023 - 09:05 AM

A couple of guesses/things I'd like to see,

 

-Buy the full block located just East of the Binyon O'Keefe Building, which is currently for sale as a package deal with the O'Keefe building. Lots of flexibility with a full block. Alternatively, see if Trinity Metro will sell the block to the South or if Oncor will sell the block to the North. 

 

-Wait for the City to sell the block to the West of the existing City Hall. Save the Gordon Swift Office Building and Lone Star Gas Co. building, use for whatever purpose is needed (hotel, lofts, keep as office?) Demo the existing garage and build another L shaped tower around the existing historic buildings. This block, with the historic buildings cut out, is quite big, over an acre, and has 300 ft of street frontage along Taylor which should allow lots of flexibility for a design. 

 

-Convince the owners of Burnett Plaza to sell the the drive-through bank site, or find a way to purchase the the land across the street to the East (now currently owned by "H V LUDIE T PRTNSHIP LTD ETAL"). 

 

-Find a way to purchase the L-shaped lot around the YWCA building, currently owned by YWCA and YMCA. Build an L-shaed tower here too, capitlize on synergy from Library development across the street. 

 

Just a couple of ideas in the downtown core, lots of other potential options on the Upper Westside or Panther Island or something else. 

 

(P.S. I probably should have started a new thread on this, sorry John)


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#735 TLA

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Posted 22 April 2023 - 11:37 AM

Taken April 13th, topped off. 

 

jvVzjPZ.jpg



#736 Nitixope

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Posted 22 April 2023 - 09:28 PM

8l4OkBZ.jpg

 

utdsHwR.jpg

 

IK7lHfq.jpg



#737 steave

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Posted 23 April 2023 - 08:15 AM

I am glad they are putting the siding on, I wasn't entirely sure what from the rendering what it was actually going to look like. Now downtown just needs like 20 more of these types of buildings, lol.



#738 Eastsider817

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Posted 23 April 2023 - 02:49 PM

If they are looking for a spot to put another tower that means the current one could have been a lot taller. This falls into the category of Fort Worth being way to conservative on development. This tower should have been double the size. A missed opportunity IMO. Does Fort Worth even know how much wealth it has in its section of the metro? Why it would even be a question of if Fort Worth could fill luxury towers is beyond my understanding. The city has clean & beautiful downtown with a river that is increasingly becoming a destination for recreational activity and events. Why city officials cant see that Downtown Fort Worth is truly a gem and destination is beyond me. People will pay big bucks to live in downtown Fort Worth if giving the opportunity. Just about anything you put in downtown Fort Worth will blossom. Baby steps arent needed. People are in need and want housing. People want to live in a true urban enviorment. The market is there to add substantial vertical growth downtown. We need a mayor that is going to push for big time developments.

#739 Crestline

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Posted 24 April 2023 - 07:08 AM

If they are looking for a spot to put another tower that means the current one could have been a lot taller. This falls into the category of Fort Worth being way to conservative on development. 

 

That's a great point. If we're realizing this it means developers are realizing it too—I think that if this tower leases up quickly then future residential towers conceived, approved, and built during the next several years will be meaningfully larger. 



#740 rriojas71

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Posted 24 April 2023 - 09:09 AM

If they are looking for a spot to put another tower that means the current one could have been a lot taller. This falls into the category of Fort Worth being way to conservative on development. This tower should have been double the size. A missed opportunity IMO. 

I don't think them deciding to build shorter has anything to do with Fort Worth being too conservative.  That decision was made by the developer not the city.



#741 roverone

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Posted 24 April 2023 - 09:24 AM

I have to expect that every floor higher (in some "stepped" way) must add to the cost more than adding the floor below.  Getting materials up higher, plumbing pressures and other infrastructure, elevator technology, window strength against wind and building sway.

 

I'm not saying that all of these are not long-solved problems and there aren't at least hundreds of new buildings going up every year that are taller.

 

It is just that the math of charging higher rents / sales prices for higher floors, and any savings from density of being in one building don't make as much sense yet here when you can find a place to build a second shorter tower.

 

When they say they are looking for a spot to build another tower, there is an implication that they are looking for a spot at a price that makes the products return high enough.

 

This is not a high density city yet -- there are plenty of placed to build for a price without tearing out anything more than a parking lot -- and apparently even that can't be had cheaply enough.

 

And just because this building might rent out quickly, we can't automatically assume that there is a big enough market here for units that charge 1.5x or 2x or 3x as much just because they are taller.  When you are charging those amounts, that is opening up the other side of the metroplex and what they have to offer.

 

Some day we will get there, but I don't think we are there yet.



#742 Nitixope

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Posted 24 April 2023 - 09:38 AM

I have to expect that every floor higher (in some "stepped" way) must add to the cost more than adding the floor below.  Getting materials up higher, plumbing pressures and other infrastructure, elevator technology, window strength against wind and building sway.

 

I'm not saying that all of these are not long-solved problems and there aren't at least hundreds of new buildings going up every year that are taller.

 

It is just that the math of charging higher rents / sales prices for higher floors, and any savings from density of being in one building don't make as much sense yet here when you can find a place to build a second shorter tower.

 

When they say they are looking for a spot to build another tower, there is an implication that they are looking for a spot at a price that makes the products return high enough.

 

This is not a high density city yet -- there are plenty of placed to build for a price without tearing out anything more than a parking lot -- and apparently even that can't be had cheaply enough.

 

And just because this building might rent out quickly, we can't automatically assume that there is a big enough market here for units that charge 1.5x or 2x or 3x as much just because they are taller.  When you are charging those amounts, that is opening up the other side of the metroplex and what they have to offer.

 

Some day we will get there, but I don't think we are there yet.

 

I took a quick glance at SLC's portfolio, and other than The Laurel Rittenhouse Square in Philly at 48-stories tall, it seems like the "sweat spot" they are building in other markets is around 27-stories or less.  

 

The company doing the electrical at Deco is Power Design out of Florida, and if you look at their website, they specialize specifically in high-rise residential and have relationships with many developers across the US.  It's interesting to see which markets demand taller and taller residential and it seems like is probably a process that doesn't occur overnight as a factor of supply and demand:

https://www.powerdes...s/projects/#map



#743 TLA

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Posted 24 April 2023 - 05:31 PM

https://www.bizjourn...im-downey.html?

Today, Dallas Business Journal interviewed the CEO of Southern Land Company. He really gushes about the city. I hope this company finds a piece of land soon. The article has a lite paywall, but the gist is this building had their highest ever demand, they are bullish on building more here, and they praised how easy it was working with the city.

#744 roverone

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Posted 24 April 2023 - 08:17 PM

https://www.bizjourn...im-downey.html?

Today, Dallas Business Journal interviewed the CEO of Southern Land Company. He really gushes about the city. I hope this company finds a piece of land soon. The article has a lite paywall, but the gist is this building had their highest ever demand, they are bullish on building more here, and they praised how easy it was working with the city.

 

That is an effusively positive article.

 

We've had threads here discussing underutilized lots in downtown, I don't feel like they have all been filled.  And I also don't think we have a higher density of development than other established cities around the country.

 

So what do you think is making finding a site so difficult for them?  If they made meaningfully higher offers would opportunities ope up?  Is it not about money, but rather ownership blocks not wanting to break things up? ( I know that is the case in one part of downtown).

 

Are there strategies the city could use to encourage things along, or is this just a matter of waiting for the demand pushing the prices up enough to make things start moving?



#745 JBB

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Posted 24 April 2023 - 08:34 PM

I think that land cost has to be a factor.  It's not that there isn't land.  There just isn't any at the right price.



#746 Crestline

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Posted 25 April 2023 - 06:25 AM

I have to expect that every floor higher (in some "stepped" way) must add to the cost more than adding the floor below.  Getting materials up higher, plumbing pressures and other infrastructure, elevator technology, window strength against wind and building sway.

 

This got me curious about how tower construction costs work, and searching got me to this page with a relevant quote:

 

It’s generally believed that average costs per square foot or meter are u-shaped with respect to floor height. For smaller buildings, going taller means that the per floor costs are falling, and then, at some height, they begin to rise. At that point, the costs of providing an additional floor becomes greater. For example, the cost of adding the 51st floor is more than the cost of adding the 41st floor. Where that turning point is remains an open question, and, as I will show below, it seems to be different in different cities.

 

Interesting economic problem to solve!


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#747 TLA

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Posted 25 April 2023 - 06:50 AM

I think that land cost has to be a factor.  It's not that there isn't land.  There just isn't any at the right price.


This combined with what the CEO points out, getting banks and the right financing lined up. This project shows the viability of future downtown proposals. SLC or another developer can feel confident paying a higher premium or seeking additional capital to get the land.

#748 rriojas71

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Posted 25 April 2023 - 08:23 AM

I think that land cost has to be a factor.  It's not that there isn't land.  There just isn't any at the right price.

Yes.  I think that is a major component.  When buying some land to develop getting it at the right price is always the key.  I know a lot of here think there is so much open land downtown because we have so many surface parking lots but those lots are owned by someone asking a particular price which I'm sure is pretty high compared to most areas of the city.  They would rather sit on the land and make money from parking lots because there is little to no overhead.  Getting them to sell is a whole other story.



#749 Austin55

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Posted 25 April 2023 - 08:52 AM

It's great to hear that they've had such success. 



#750 JBB

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Posted 25 April 2023 - 10:42 AM

They would rather sit on the land and make money from parking lots because there is little to no overhead.


There are a lot of people that are all about positive cash flow on something they own free and clear. I'm not accounting expert, but I'm sure there's tax advantages to that versus selling it and getting a big chunk of change at one time.







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