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 | Aug 29, 2019
Code-conforming wood design guide available
The guide summarizes provisions for the use of wood and wood products in the 2018 IBC.
Codes and Standards | Aug 29, 2019
LEED residential market up 19% since 2017
The U.S. Green Building Council says that the LEED residential market has grown 19% since 2017. Nearly 500,000 single family, multifamily, and affordable housing units have been certified globally.
Codes and Standards | Aug 27, 2019
Slower speed limits in urban areas offer multiple benefits
Improved safety, better adoption of electric scooters and autonomous vehicles are possible if drivers ease off the accelerator.
Codes and Standards | Aug 27, 2019
Renewables creating significant savings for commercial and public facilities
Payback ranges from five to 15 years.
Codes and Standards | Aug 27, 2019
Oregon rescinds tsunami-zone construction ban
Other states have no ban, but have strengthened building codes for tidal wave resilience.
Urban Planning | Aug 27, 2019
Pop-up parks revitalize empty lots
Pop-up parks that provide instant open areas for public use and programming can revitalize under-utilized spaces and add vibrancy to neighborhoods.
Codes and Standards | Aug 22, 2019
Texas flood prevention initiative would create nation’s most ambitious barrier system
Plan including sand dunes and mechanical barriers would cost as much as $32 billion.
Codes and Standards | Aug 22, 2019
Multimedia app identifies construction hazards
Researchers say program will reduce injuries, save lives.
Codes and Standards | Aug 22, 2019
Cities take action to keep cool as climate heats up
Initiatives include cool streets, cool roofs, and broader urban tree canopy.
Codes and Standards | Aug 22, 2019
5G expected to give a boost to construction technology
Virtual reality, Internet of Things, robotics, and drones will all benefit from enhanced data flows.