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
Building Enclosure Systems | Oct 30, 2024
Winners of Building Envelope Innovation Prize focus on secondary glazing
The U.S. Department of Energy (DOE) recently announced the winners of the first phase of the Building Envelope Innovation Prize. The prize targets high-performance, cost-effective secondary glazing systems to improve efficiency of commercial windows.
M/E/P Systems | Oct 30, 2024
After residential success, DOE will test heat pumps for cold climates in commercial sector
All eight manufacturers in the U.S. Department of Energy’s Residential Cold Climate Heat Pump Challenge completed rigorous product field testing to demonstrate energy efficiency and improved performance in cold weather.
Resiliency | Oct 29, 2024
Climate change degrades buildings slowly but steadily
While natural disasters such as hurricanes and wildfires can destroy buildings in minutes, other factors exacerbated by climate change degrade buildings more slowly but still cause costly damage.
Contractors | Oct 25, 2024
Construction industry CEOs kick off effort to prevent suicide among workers
A new construction industry CEO Advisory Council dedicated to addressing the issue of suicide in the construction industry recently took shape. The council will guide an industry-wide effort to develop solutions targeting the high rate of suicide among construction workers.
Codes and Standards | Oct 17, 2024
Austin, Texas, adopts AI-driven building permit software
After a successful pilot program, Austin has adopted AI-driven building permit software to speed up the building permitting process.
Resiliency | Oct 17, 2024
U.S. is reducing floodplain development in most areas
The perception that the U.S. has not been able to curb development in flood-prone areas is mostly inaccurate, according to new research from climate adaptation experts. A national survey of floodplain development between 2001 and 2019 found that fewer structures were built in floodplains than might be expected if cities were building at random.
Seismic Design | Oct 17, 2024
Calif. governor signs limited extension to hospital seismic retrofit mandate
Some California hospitals will have three additional years to comply with the state’s seismic retrofit mandate, after Gov. Gavin Newsom signed a bill extending the 2030 deadline.
Codes and Standards | Oct 16, 2024
North Carolina’s code policies likely worsened damage caused by Hurricane Helene
The North Carolina Legislature’s rejection of building code updates likely worsened the damage caused by Hurricane Helene, code experts say. Over the past 15 years, lawmakers rejected limits on construction on steep slopes, which might have reduced the number of homes destroyed by landslides.
MFPRO+ News | Oct 16, 2024
One-third of young adults say hurricanes like Helene and Milton will impact where they choose to live
Nearly one-third of U.S. residents between 18 and 34 years old say they are reconsidering where they want to move after seeing the damage wrought by Hurricane Helene, according to a Redfin report. About 15% of those over age 35 echoed their younger cohort’s sentiment.
Construction Costs | Oct 16, 2024
Construction Crane Index: Most major markets’ crane counts increase or hold steady in third quarter
Rider Levett Bucknall’s (RLB’s) latest Crane Index and Quarterly Cost Report shows continued decreasing cost inflation and crane counts increasing or holding steady in 10 of the 14 major markets it surveyed. The national average increase in construction costs was 1.07%, the lowest it’s been in the last three years.
