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
| Mar 14, 2013
Concrete Polishing Association of America releases new standards
The Concrete Polishing Association of America(CPAA) Standards Committee, which reflects a cross-section of the concrete polishing industry, has created terminology to define the products and processes used to produce insitu polished concrete.
| Mar 14, 2013
World Green Building Council: Green buildings help mitigate real estate risk
Green buildings can offer benefits to a wide array of stakeholders throughout their life cycle, according to a report released by the World Green Building Council.
| Mar 14, 2013
Sustainability index aims to evaluate REITs on the greenness of their properties
FTSE Group, the National Association of Real Estate Investment Trusts, and the U.S. Green Building Council are working on a sustainability index that measures the portfolios of real estate investment trusts to provide transparency about LEED certification and Energy Star ratings.
| Mar 6, 2013
OSHA: Employers must post injury and illness summaries
The Occupational Safety and Health Administration is reminding employers to post OSHA Form 300A, which lists a summary of the total number of job-related injuries and illnesses that occurred during 2012.
| Mar 6, 2013
Study provides guidance to states on linking utility efficiency programs with energy codes
As states increasingly look to utilities to play an active role in supporting building energy codes, a new report from a coalition of energy efficiency advocates, has been issued to provide guidance for how state regulatory commissions and energy offices can best develop and evaluate such efforts.
| Mar 6, 2013
Triple-pane windows, heat pumps part of New York’s plan to meet 2050 emissions goal
Renovations providing better insulation, triple-paned windows, heat pumps and other techniques that minimize heat loss and save on energy use for residential and commercial buildings are key to New York City’s goal of reducing its carbon emissions by 90% by 2050.
| Mar 6, 2013
EPA asks for feedback on Energy Star criteria on tubular daylighting devices and skylights
The U.S. Environmental Protection Agency (EPA) has requested feedback from stakeholders about draft two of the Energy Star tubular daylighting devices (TDD) and revised skylight criteria.
| Mar 6, 2013
AAMA moves to streamline windows, doors certification extensions
The American Architectural Manufacturers Association (AAMA) says it will update an interim procedural guide that will provide a documented, optional process to extend current, unexpired AAMA product certification.
| Feb 26, 2013
Tax incentive database for reflective roofs available
The Roof Coatings Manufacturers Association (RCMA) and the Database of State Incentives for Renewables & Efficiency (DSIRE) created a database of current information on rebates and tax credits for installing reflective roofs.
| Feb 26, 2013
Southern Pine Inspection Bureau publishes new design values effective June 1
New design values for all sizes and grades of visually graded Southern Pine dimension lumber were published in the Southern Pine Inspection Bureau’s (SPIB) Supplement No.13 to the 2002 Standard Grading Rules for Southern Pine Lumber on Feb. 11.