Industry Report Underscores the Value of Downtown Atlanta
June 5,2019
Media Contact:
Paige Sullivan
Central Atlanta Progress
404-658-5981 (o), 770-688-5689 (m)
psullivan@atlantadowntown.com
Industry Report Underscores the Value of Downtown Atlanta
Report evaluates five key principles, identifies link between Downtowns and long-term regional prosperity
ATLANTA -- Downtown Atlanta showed significant growth in vibrancy and economic activity since 2010, ranking it as a “growing downtown” among 24 cities studied in a new report by the International Downtown Association.
Cities and regions have the potential to 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 released by the International Downtown Association (IDA). While small in physical size, downtowns are immensely valuable, diverse, efficient, inclusive and resilient on multiple levels. 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.
The report encompasses 100 key data points to evaluate downtowns on five principles including: Economy, Inclusion, Vibrancy, Identity, and Resilience, while also benchmarking them against their respective cities and regions. The downtown Atlanta area studied is generally bounded by North Avenue to the north, I-20 to the south, Northside Drive to the west, and Boulevard to the east.
Key findings for Downtown Atlanta include:
- Downtown Atlanta is categorized as a “growing downtown” making up approximately 2.5% of the citywide land area
- 42% increase in residential growth in Downtown between 2010 and 2016, outpacing the 10% residential growth in the city overall.
- Much of this growth occurred on the fringes of Downtown; to the north and east of the core
- 28% of the City’s jobs are located in Downtown Atlanta – along with 43% of the City’s creative jobs
- Land value is $1.7 billion per square mile, a rate 9.2 times higher than the citywide rate
- 11% of the city’s retail spending occurs in Downtown, amounting to $1 billion in annual sales.
- 40% of Downtown residents utilize alternative commute methods (non-single occupancy vehicles), including transit (15%), walking (14%), carpool (7%) and biking (1%).
“Though relatively small in total land mass, Downtown Atlanta provides a significant economic and community return,” said A.J. Robinson, president of Atlanta Downtown. “This report, coupled with an additional $9 billion in total investment under construction or planned for Downtown Atlanta over the next ten years, evidences the inherent value in investing in our City’s core.”
An executive study of the complete study can be viewed online here.
Stay connected with Central Atlanta Progress at AtlantaDowntown.com and on social media at @DowntownAtlanta.
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About Central Atlanta Progress / Atlanta Downtown Improvement District: Central Atlanta Progress, Inc., is a Downtown business association with approximately 240 members. Its mission is to champion a vibrant community with strong leadership and sustainable infrastructure that is safe, livable, diverse, economically viable, accessible, clean, hospitable and entertaining. The Atlanta Downtown Improvement District is a 501(c)(3) non-profit, charitable corporation created by CAP to make Downtown safer, cleaner and more hospitable.
About the International Downtown Association: The International Downtown Association is the premier organization for urban place professionals who are shaping and activating dynamic city center districts. Our members are downtown champions who bring urban centers to life, bridging the gap between the public and private sectors. We represent an industry of more than 2,500 place management organizations, employing 100,000 people throughout North America and growing rapidly around the world. Founded in 1954, IDA is a resource center for ideas and innovative best practices in urban place management. For more information, visit downtown.org.