City of Fort Worth plans purchase of future City Hall property
The city of Fort Worth is expected to purchase a new town hall by the end of the year. (Ian Pribanic / Community Impact Newspaper)
Fort Worth city officials announced on Dec. 2 that plans were underway to purchase a new downtown city hall location.
The city is currently “conducting its due diligence” on the former Pier 1 headquarters at 100 Energy Way, Fort Worth, according to a city news release dated Dec. 2. The city expects to buy the property by the end of the year and complete the transaction by February 2021.
“While the purchase of an existing property was not part of the city’s original plan, the purchase of this property provides a solution to the city’s housing needs sooner without construction and will save taxpayers in years to come,” city administrator David Cooke said in of publication.
According to the city, estimates to build a new urban complex were over $ 200 million, while buying an existing piece of land will result in savings in the tens of millions.
The proposed location of the new town hall is more than 400,000 square meters and offers more than 160,000 square meters more space than the current town hall building. The new location will also offer “modern amenities” and “ample parking,” the press release said.
“This purchase is a more economical solution to meet the 13th century space requirements The largest city and more city services in one convenient location for its residents, ”said Cooke.
In addition, the purchase is expected to generate rental income for the city as the current building tenants remain. The new town hall is to be put into operation from 2022, according to the press release.
“Since we have started planning the renovation of the town hall, the cost savings from buying this building are just too big to miss,” said Mayor Betsy Price. “This is a prudent financial decision and I take pride in the financial responsibility, forward thinking and strategic investments that the City of Fort Worth has.”