Crescent Real Estate has broken ground on Museum Place, a $250 million mixed-use development in Fort Worth. The project is in the heart of the city’s Cultural District and will include a 168,000-square-foot Class A office component, a 200-key boutique hotel and 170 luxury apartments.
The project is expected to come online mid-2023. OZ Architecture is handling the design of the office component, which will also include ground-level retail. The multi-tenant office building will be the new headquarters of Crescent Real Estate, with the tenant list also including Goff Capital and Canyon Ranch.
The 11-acre development will take shape at the corner of Camp Bowie Boulevard and Van Caliburn Way, across the street from The Modern Art Museum of Fort Worth and within walking distance of the UNT Health Science Center. Museum Place is 2 miles east of downtown Fort Worth, with easy access to Interstate 30.
Office construction across the metro
As of August, nearly 157 million square feet of office space was underway nationally, according to CommercialEdge data. Dallas-Fort Worth had 5.4 million square feet of projects under construction, representing 2.0 percent of the total stock, below the U.S. average of 2.4 percent.
Less than 2 miles away from Museum Place, Cornerstone Projects Group teamed up with Stream Realty and Trident Structures to develop its first office project in North Texas. When complete, Vantage Centre, a Class A office building totaling 30,000 square feet, will have Vantage Bank Texas as an anchor tenant.
In August, a partnership between Blue Star Land and Lincoln Property Co. announced plans to expand The Star in Frisco, a $1.5 billion multi-use development in Frisco, Texas. The campus, home to the Dallas Cowboys, will also include an office tower totaling 313,000 square feet. The same month, the Dallas City Council green lit a 3.5 million-square-foot project in Dallas. Hunt Realty Investments’ mixed-use development will include office, hospitality and retail across 11 acres.