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
| Jan 16, 2013
New standard for geothermal heat pump systems piping to be included in 2015 International Mechanical Code
NSF International, an independent global organization that writes standards, and tests and certifies products, has published the first in a series of American National Standards for Ground-Source Geothermal Piping Systems – NSF/ANSI 358-1.
| Jan 16, 2013
ANSI passes new safety standards for reinforcing steel and post-tensioning
The ANSI A10 Accredited Standards Committee for Construction and Demolition Operations recently approved amendments to the ANSI A10.9 Concrete and Masonry Standard.
| Jan 8, 2013
Congress passes Drywall Safety Act
Congress recently passed the Drywall Safety Act; President Barack Obama is expected to sign it soon.
| Jan 8, 2013
Building-integrated PVs could help boost green standards over the next few years
A developing technology could begin to have an impact on sustainable standards over the next few years.
| Jan 8, 2013
Revamp of codes among nine low tech steps to raise community resiliency
Updating of local zoning and building codes is one of nine low-tech steps that can boost sustainability and storm resiliency, according to this article.
| Jan 8, 2013
Group releases safety and building codes from 24 countries
Public.Resource.Org released 10,062 public safety documents including building codes covering 24 countries and 6 regions.
| Jan 8, 2013
Montana developing high-performance building standards for state projects
The Montana Department of Administration is developing a single building standard for all state facilities, and hopes to have a plan in place this spring.
| Jan 4, 2013
AGC economist says "fiscal cliff" deal will give construction a boost
The deal in Congress to avoid going over the so-called fiscal cliff "should encourage many businesses to go ahead with projects they have held in reserve," said Ken Simonson, chief economist of the Associated General Contractors of America.
| Jan 4, 2013
California standards on furnishings, insulation to be revised
California is revising the state’s standards on interior furniture and insulation to maintain or improve fire safety while reducing or eliminating the use of toxic chemicals.
| Jan 4, 2013
Tilt-Up Concrete Association releases new temporary wind bracing guidelines
The Tilt-Up Concrete Association has released revised guidelines on Temporary Wind Bracing of Tilt-Up Concrete Panels During Construction.