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 | Nov 26, 2019
Updated ASHRAE standards focused on ventilation design, air quality in residential applications
Standard 62.1 and 62.2 updates provide new tables of ventilation rates per unit area.
Codes and Standards | Nov 25, 2019
Real estate professionals say coworking is not a flash in the pan
More than 60% say coworking space is in their portfolios.
Codes and Standards | Nov 22, 2019
Utility’s proposal threatens California’s rooftop solar mandate
Would allow customers to use solar farms instead of installing their own PVs.
Codes and Standards | Nov 21, 2019
Number of LEED commercial building projects surpasses 100,000
More than 2.6 million sf of space being certified each day.
Codes and Standards | Nov 19, 2019
Most U.S. voters support licensing standards for architects
NCARB survey shows strong support for architecture as a licensed profession.
Codes and Standards | Nov 18, 2019
Cambridge, Mass., teams up with utility on energy retrofit program
Buildings large than 25,000 sf targeted in initiative to further carbon neutrality goal.
Codes and Standards | Nov 14, 2019
Resistance to Toronto’s ‘smart city’ reveals pitfalls of such ambitious projects
Concerns over data privacy, governance, feasibility prompt criticism.
Codes and Standards | Nov 13, 2019
Heat pumps, strategic energy management could be next major focuses for efficiency
After lighting, efficiency experts look to new opportunities to boost energy efficiency.
Codes and Standards | Nov 12, 2019
National Infrastructure Performance Council to address ‘national security crisis’
Coalition wants to double annual level of infrastructure investment.
Codes and Standards | Nov 11, 2019
Major cities are adopting new building performance standards
Initiatives can include multiple standards.
