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Severe Winter Weather Grips Dallas-Fort Worth as Major Real Estate Projects Forge Ahead
Dallas-Fort Worth is currently grappling with a severe winter weather event that has prompted several alerts and advisories. As of Tuesday, February 19, the National Weather Service has issued a winter weather advisory for the Dallas-Fort Worth Metroplex, effective from 5 p.m. Tuesday until midnight Wednesday. This advisory includes counties such as Denton, Collin, Tarrant, Dallas, and Johnson, with counties further west, like Wise, Parker, and Cooke, under the advisory starting at 10 a.m.[1].
An extreme cold warning is also in effect from 9 p.m. Tuesday until 9 a.m. Thursday, covering all of North Texas. The region is expected to experience patchy freezing rain, creating slick spots on bridges and overpasses, with anything that is wet likely to freeze. Tuesday's weather saw spotty areas of drizzle in the morning, with freezing rain becoming more prevalent throughout the day, particularly in the northwest parts of North Texas by 11 a.m. and in DFW by 4 p.m.[1].
The cold front has significantly dropped temperatures, with Tuesday's high of 50 degrees occurring early in the day. By Wednesday, the region will face much colder conditions, with wind chills dropping "feels-like" temperatures to as low as -10 degrees in some areas. Temperatures will only rise to the teens and low 20s, with similar cold conditions continuing into Thursday[1].
Despite the harsh weather, the Dallas-Fort Worth area is witnessing significant real estate and economic development. Several major projects are set to shape the region in 2025. For instance, the 23Springs office tower in Uptown Dallas, developed by Granite Properties, is expected to open in March. This 26-story tower has already secured prominent tenants like Bank OZK, Deloitte, and Sidley Austin[2].
In Fort Worth's Cultural District, Goldenrod Companies is preparing to break ground on two mixed-use developments: the Van Zandt and One University. The Van Zandt will feature 13,000 square feet of retail, 100,000 square feet of office space, and 226 apartments, while One University will include 115,000 square feet of office space, 242 apartments, and a 176-key hotel. These projects are part of a larger investment aimed at attracting new corporate relocations to the area[2].
The Fields development in northern Frisco is another significant project, spanning 2,500 acres and positioned to drive long-term growth and attract future corporate relocations. Additionally, a proposed $850 million mixed-use development near Fort Worth's Cultural District, led by Larkspur Capital and Keystone Group LP, will encompass 2 million square feet of residential, retail, office, and hospitality space if approved[2].
The commercial real estate sector in DFW is also thriving, with notable developments in the data center, retail, and industrial sectors. For example, Provident Data Centers and American Real Estate Partners are building one of the largest data center campuses in the U.S. in Grand Prairie, while Microsoft and QTS Realty Trust LLC are developing multiple data centers in Irving, benefiting from significant property tax reductions[5].
The retail sector has shown remarkable resilience, with 1.5 million square feet of new retail space delivered in 2024, largely focused on grocery-anchored developments. This has led to a record high occupancy rate of 96.4% at grocer-anchored community shopping centers. The region's strong population growth, business-friendly environment, and diverse economy continue to drive demand across all commercial real estate asset classes, positioning DFW as a key market for decades to come[5].
Dallas-Fort Worth's economic strength is further underscored by its high ranking in economic freedom among large U.S. metro areas and its growth-friendly land-use policies. The region is expected to become the third-largest metropolitan area in the U.S. by the 2030s, surpassing Chicago, and is solidifying its positi
Published on 10 months ago