Cities and regions can generate profound lasting benefits through investment in downtowns and center cities, according to The Value of U.S. Downtowns and Center Cities: Second Edition report by the International Downtown Association (IDA).
While often small in physical size, downtowns pack a punch. “From driving tax revenue and business activity to spurring smart development and innovative workplaces, downtowns play a pivotal role in the long-term health of a region,” according to a news release from IDA and Stantec, the association’s partner on the report.
The report updates The Value of U.S. Downtowns and Center Cities study released a year ago, with data and analysis that expands the scope to 24 downtowns with urban place management organizations across the United States. Downtown populations continue to grow and their economic prosperity increases as they mature.
Trends identified in this year’s report include:
· Tax revenue increases as downtowns move from emerging to established. Property tax revenue in emerging downtowns averages 11% of citywide property tax revenues, but increases to 32% in established downtowns.
· Downtown population growth far outpaces citywide growth, and it accelerates as downtowns move toward the established tier. Between 2010 and 2016, population grew by 29% in established downtowns, 37% in growing downtowns and 14% in emerging downtowns.
· As downtowns grow more robust, the income of their residents rises relative to the rest of the city. Established downtowns outperformed their cities, with median income at 110% of the citywide figure. This pattern underscores the importance of developing policies and mechanisms for keeping downtown housing accessible to all income levels.
· Downtowns become more concentrated employment centers as their stage of development progresses. Established downtowns have 52% of citywide jobs.
· Downtowns are multimodal hubs that rely less on cars than their cities. Established downtowns have nearly perfect Walk and Transit Scores (96 and 98 respectively).
The report can be downloaded at:
Related Stories
Codes and Standards | Jun 27, 2018
Thirty nine San Francisco high rises at risk of collapse in major earthquake
Vulnerable buildings have welded columns and beams.
Codes and Standards | Jun 26, 2018
Boston enacts new climate resiliency rules for buildings
New policy is likely a first in the nation.
Codes and Standards | Jun 25, 2018
Integrated Project Delivery guide offered by Pankow Foundation
An Action Guide for Leaders offers answers to critical IPD questions.
Codes and Standards | Jun 21, 2018
New app said to automate code compliance
Startup offers plug-in that scans 3D models.
Codes and Standards | Jun 20, 2018
Home values and local tax revenues at risk from high tide flooding, scientists group says
Analysis of property data identifies communities prone to frequent flooding.
Codes and Standards | Jun 19, 2018
Structural engineered wood products exempt from new EPA formaldehyde ruling
Exempt products include structural plywood, oriented strand board (OSB).
Codes and Standards | Jun 18, 2018
Seattle City Council repeals controversial new per-worker tax on large employers
Measure was aimed at raising $50 million for homeless services, affordable housing.
Codes and Standards | Jun 14, 2018
Hardscape from development makes ‘1,000-year’ flood in Maryland worse
Impermeable concrete made it easier for water to overwhelm drainage system.
Codes and Standards | Jun 13, 2018
United States Resiliency Council announces support for Calif. earthquake resiliency bill
Measure would help cities identify structures that could fail in major quake.
Codes and Standards | Jun 12, 2018
Congestion pricing for cars is effective in reducing traffic, but a difficult sell
After three years, traffic congestion declined by 30% in London.
