Downtown Housing
Recent studies have shown a small but growing number of Americans are returning to downtowns to establish their residence. A Brookings Institute survey of 20 cities found all but one have projections for growth in the number of downtown residents. "Urban policy experts are elated. they have long said that getting people to live--not just work--downtown is the key to urban revitalization and a good way to contain runaway sprawl."1
It is recognized that a strong downtown residential sector is an important factor in converting a 9 to 5 downtown into a 24 hour district. Although families with children prefer the larger homes and good schools generally found in suburbs, much of the Baby Boomer generation is now in their 50s, and no longer have children at home. This makes the diversity of activities, convenience and amenities found in a downtown more appealing.
Projections of growth in the residential sector by Year 2010.2
| City | Current | Projected | % change |
|---|
| Cleveland | 6,400 | 21,000 | 228% |
| Denver | 3,500 | 9,200 | 165% |
| Seattle | 15,000 | 34,000 | 120% |
| Dallas | 3,500 | 6,400 | 85% |
| Chicago | 115,000 | 152,000 | 32% |
| Detroit | 33,000 | 35,000 | 6% |
1 Haya El Nasser. USA Today. "Downtown increasingly becoming hometown." September 25, 1998. p. 3A.
2 Projections based on developments under way, building permits, and anticipated real estate projects.
