Fort Worth convention center expansion is back

Fort Worth - Fort Worth's convention center expansion, long-discussed by city leaders, has faced multiple setbacks. Originally, phase one of the expanded convention center should have been near completion this year. However, the city's culture and tourism fund, which is funding the project, suffered significantly due to COVID-19. Tourism revenue saw a decline of approximately $11 million between 2019 and 2020.

According to Dallas Metro News, the project has now been revived with about $52 million in federal funds from the American Rescue Plan Act, a $1.9 trillion law intended to assist the country's recovery from the pandemic. This influx of funds will cover more than half of the initial construction cost.

Mike Crum, who took charge of Fort Worth’s public events department on February 3, 2020, recalled his first meeting with the advisory committee for the convention center expansion

“We had one meeting,” Crum said. “Then we had to shelve the whole thing.”

In addition to the delay, factors such as the planned realignment of Commerce Street and inflation have driven up the project's estimated cost by $324 million, almost double the 2019 estimate.

Despite the challenges, Fort Worth is pushing ahead with the project due to a pressing need for a better convention center and expanded hotel options downtown, said Bob Jameson, president and CEO of Visit Fort Worth. The current convention center is struggling to compete with other cities for regional and national conferences. In phase two, the city plans to demolish the attached arena, and expand exhibit halls, ballrooms, and meeting spaces to enhance its competitive edge.

With federal funds now available, the city is formulating a plan to finance the remainder of the project through debt.

“We would sell $43 million in debt this May to flesh out the budget and that’ll permit us to move forward,” Crum said.

Credit: Fort Worth Report, Dallas Metro News