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 | Feb 2, 2015
AGC working with EPA on website to help with environmental rule compliance
The goal is for the site to be improved to make it easier for construction contractors to learn how to comply with federal and state environmental guidelines.
| Feb 2, 2015
New York law requires informing firefighters of wood truss construction
New York enacted a law that could make firefighting a bit safer by mandating property owners inform government and first-responders when they build or rehabilitate a building using "truss-type" pre-engineered wood or timber.
| Jan 14, 2015
Ontario code changes boost accessibility for people with disabilities
The new amended Ontario building code includes several provisions that improve accessibility for those with disabilities.
| Jan 14, 2015
American Concrete Institute releases Spanish edition of structural concrete code
New York City last year adopted the National Institute of Standards and Technology (NIST) recommendation to require additional exit stairways in high-rise buildings.
| Jan 14, 2015
Terrorism Risk Insurance Act renewed
President Barack Obama signed the Terrorism Risk Insurance Act law on Jan. 12.
| Jan 9, 2015
Academy of Art in San Francisco under fire for code violations
The fast-growing Academy of Art is under intense scrutiny by the City of San Francisco for code violations.
| Jan 9, 2015
New law mandates storm shelters in Illinois schools
An Illinois law took effect on Jan. 1 that requires all new and remodeled schools to have storm shelters.
| Jan 9, 2015
New OSHA regulations on reporting workplace deaths, hospitalizations take effect
As of Jan. 1, all employers under the jurisdiction of OSHA are required to report all work-related fatalities within eight hours and all in-patient hospitalizations, amputations, and losses of an eye within 24 hours.
| Jan 9, 2015
Zoning policy makes Bethesda, Md., a model walkable suburb
In sharp contrast to most suburban communities in the Washington, D.C. area, Bethesda, Md., stands out as a fine exemplar of the new urbanism ethos.
| Jan 8, 2015
Gundersen Health System says it is nation’s first net-zero healthcare network
Gundersen Health System, a network of hospitals, medical clinics, and nursing homes in Wisconsin, announced that it is producing more energy than it consumes, making it the first net-zero energy health system in the U.S.