posted on March 04, 2011 01:19
AllianceTexas has made a $38.5 billion cumulative economic impact on the City of Fort Worth and Tarrant and Denton counties since 1990, including a $2.03 billion impact in 2009, according to a presentation the project's developers made Wednesday to the Fort Worth City Council.
Capital investment through year-end 2009 totaled more than $7.25 billion, including 94.6 percent private money and 5.4 percent public money, according to the presentation by developer Hillwood.
The 17,000-acre AllianceTexas is a development about 20 miles north of downtown Fort Worth that stretches across the Tarrant/Denton County line, including several city jurisdictions. It includes the Fort Worth Alliance Airport, business and industrial parks, the 2,500-acre Circle T Ranch and the Heritage residential development. Hillwood, the company owned by Ross Perot Jr., oversees the development.
More than 31 million square feet of space has been developed in the project since 1990, including 7,484 homes, 200 hotel rooms and 288 apartments, according to the report.
The property tax impact during that time has totaled $839 million, with most of that revenue going to the City of Fort Worth, Tarrant County, Keller ISD and Northwest ISD.
Almost 3 million square feet of real estate transactions were completed in AllianceTexas in 2010, according to the report.
2/16/11, Dallas Business Journal, Bill Hethcock