Cleveland Named One of the Top 15 Emerging Downtowns

In a March 25 article, Downtowns: What’s Behind America’s Most Surprising Real Estate Boom, Forbes named Cleveland, Ohio to a list of the top 15 U.S. City’s Emerging Downtowns. About Cleveland Forbes says:

“Cleveland began revitalizing its downtown in the mid-1990s. Today, more than $3.5 billion is currently invested in furthering the area’s redevelopment. The Global Center for Health Innovation and a 750,000 square foot convention center will open this summer, totaling $465 million. Roughly $200 million in mixed-use development is under way around the relocation of the Cuyahoga County Administrative Headquarters at Euclid Ave. Recreational projects include a newly finished aquarium, an up-and-coming recreation center and a proposed skate park expected to break ground this year. The area’s population nearly doubled in the two decades ending in 2010, according to Census data, and the area welcomed the biggest percentage increase in population growth of any district in the greater city as a whole. From fourth quarter 2011 through the fourth quarter of 2012, the number of housing units grew about 13%, according to the Downtown Cleveland Alliance. Another 715 units are expected to come online in 2013.”

According to Forbes, “America’s major metro area downtowns welcomed double-digit population growth in the decade ending 2010, more than double the rate of growth for their overall cities, according to the U.S. Census. As more Americans, particularly college-educated young adults ages 25 to 34, opt for urban lifestyles, cities scramble to revitalize their central business districts.”

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