On this episode of Location Cubed, a Weaver: Beyond the Numbers podcast, hosts Howard Altshuler, partner-in-charge, Real Estate and Construction Services, and Aaron Grisz, partner, Tax Services, delve into real estate development in the Fort Worth area with Rory and Rian Maguire of CHC Development. They discuss their current projects, the history of their company and the evolving landscape of Fort Worth and surrounding areas.
- Medical practitioners prefer office visibility and proximity to neighborhoods over proximity to hospitals
- The redevelopment of mixed-use projects just outside of metroplexes has a stronger outlook for attracting large employers than downtown areas
- Construction costs are still high, and the cost of land in DFW has not dropped in 2023
What does this rapid commercial development in Fort Worth mean for the future, and how does CHC Development’s approach provide insights into the current real estate industry trends?
Commercial development in Fort Worth, Texas, is gaining momentum with a surge of projects. One company leading that charge is CHC Development, headed by co-owners Rory and Rian Maguire. This development has sparked a conversation on the shifting dynamics of the real estate industry, particularly in the medical office space and mixed-use property sectors. Since Fort Worth ranks number four in the country as the hottest market for real estate development in the last decade, this trend will positively impact the broader economic landscape, especially post-pandemic recovery efforts.
Rory and Rian Maguire, identical twins, are the co-owners of CHC Development. The duo grew up in Denton, Texas, and pursued different career paths before coming together to establish CHC Development. Rory has a business degree and gained extensive financial expertise in private equity. At the same time, Rian, a civil engineer by training, honed his skills in the construction side of the business. Together, they have brought complementary skills, leading CHC Development’s successful journey in the real estate industry.