FORT WORTH, Texas — Read this story and more North Texas business news from our partners at the Dallas Business Journal. Tim Downey, founder and CEO of Nashville-based Southern Land Company LLC, knows all eyes are on Deco 969, the 27-story luxury apartment tower his company developed and just opened in downtown Fort Worth. That’s because downtown Fort Worth hasn’t seen such a development in nearly 30 years .
If the $150 million building does well, Downey said that could open the floodgates for other developers to follow suit with similar projects. Deco 969 is off to a strong start. Tenants began leasing some of the 302 units in April, while construction was still being finished.
Now, the building is 16% leased and construction is largely finished, including rooftop amenities including a pool, lawn, kitchen and lounge. Some of the penthouses on the top three floors are still being finished. "How well this building performs is critical, because if we do well, other people will develop," Downey said.
"If we don't do well, it will get bogged down right here." Dallas Business Journal recently toured Deco 969 and spoke to Southern Land Company about the vision behind the high-end high-rise that's a bet on the future of downtown. Of the 567,000 square feet in the tower, Deco has about 9,800 square feet of indoor amenity space and 6,800 square feet of outdoor amenity space.
Plus, Oklahoma-based Provision Concepts LLC plans to open restaurant Broadway 10 in 8,500 square feet on .