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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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F-35's operating cost estimate to decline, Kendall says

Tony Capaccio
(c) 2014, Bloomberg News


WASHINGTON — The Pentagon will decrease its $1.1 trillion estimate for the cost of supporting Lockheed Martin's F-35 fighter jet over a 55-year lifespan, the top U.S. weapons buyer said Thursday.

"It will drop to a number that's not trivial but is not as much" a reduction "as I would like," Frank Kendall, the Defense Department's undersecretary for acquisition, said at a Bloomberg Government breakfast in Washington.

While debate over the aircraft, the costliest U.S. weapons system, has focused mostly on the price to develop and build the fighter, Pentagon agencies also have disputed its longterm operating costs, from spare parts to repairs.

Kendall declined to elaborate on the reduced 55-year estimate by the department's independent cost-assessment office, which will be released later this month in its next unclassified Selected Acquisition Report. Until then, the official projection is the $1.1 trillion formulated by that office three years ago.

By contrast, the Pentagon's F-35 program office estimates that the fleet will cost $857 billion to operate and support over its lifetime.

On the separate cost of developing and producing a planned fleet of 2,443 F-35s, the U.S. Government Accountability Office said in February that its projection is $390.4 billion, as adjusted for inflation over the years the plane is produced. The Pentagon's latest estimate by the same measure is $391.2 billion, about a 1.1 percent reduction from an earlier calculation.

That's still a 68 percent increase from a 2001 estimate the included 409 more planes.

"It's frustrating to me that eight years into production we still have a fair amount of development to go, and I don't want people to lose focus on that," Kendall said today. Kendall has previously described the simultaneous development and production of the F-35 as "acquisition malpractice."

Kendall said that his focus is on insuring that Bethesda, Maryland-based Lockheed, the biggest U.S. contractor, continues to lower production costs.

Before the award of an eighth production contract, "I want to see specific progress," working with the F-35 program office to identify some milestones "that will give us an indicator of where we are."

Kendall said he also wants to see "active progress" on the next version of software the Marine Corps needs to declare operational its first F-35 models by July 2015 as well as a final version of war-fighting software. "We still have a lot of work to do," he said.

Progress on software testing and structural durability for the Marines' F-35B model "will factor into the details" on the eighth contract, which may include actions that Lockheed must complete in order to received increased orders, he said.

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