Commercial development in Ft. 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 No. 4 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.
What does this rapid commercial development in Ft. Worth mean for the future, and how does CHC Development’s approach provide insights into the current real estate industry trends?
On this episode of Weaver: Beyond the Numbers Location3 podcast, hosts Howard Altshuler, Partner-in-Charge, Real Estate Services, at Weaver, and Aaron Grisz, Partner, Tax Services, at Weaver, delve into real estate development in the Ft. Worth area with Rory and Rian Maguire of CHC Development. This discussion touches on their current projects, the history of their company, and the evolving landscape of Ft. Worth, Texas.
Highlights from their conversation include the following:
• A detailed journey of Rory and Rian Maguire, from their early interest in real estate development to the establishment of CHC Development
• CHC Development's unique focus on ‘retail doctors,’ - medical practitioners who prefer visibility and proximity to neighborhoods over proximity to hospitals
• The company's shift towards redevelopment and mixed-use property projects and the challenges faced due to increasing construction costs and stagnant rents
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.
