Downtowns gaining population nationwide

A recent survey shows an unexpected population boom in downtowns across the country. The Brookings Institution Center on Urban and Metropolitan Policy and the Fannie Mae Foundation surveyed 24 major U.S. cities and found that all predict an increase in downtown population by 2010 (see table). The trend holds for northeastern and midwestern cities with well-established downtown residential districts, and for sunbelt central business districts that have not supported much housing in recent decades. Anecdotal evidence suggests that people are moving downtown because they want to live near jobs and cultural amenities, and because they like a bustling urban environment. Philadelphia, for example, expects to add 10,000 new center city residents (reaching 85,000 population), and Chicago projects a downtown population rise of 37,000 (reaching 152,000 residents). Anecdotal evidence in cities such as New York and Houston suggests that most new downtown residents have no children (e.g. empty-nesters, young singles or married professional couples), and are relatively well-to-do, according to the Brookings Institution. In Denver, however, the city sought to maintain economic diversity in its Lower Downtown (LoDo), by financing low and middle-income units. LoDo is a trendy district of warehouses and office buildings that have been converted to loft apartments and condominiums. A steady influx of new residents can provide significant benefits to a city’s business center, the Brookings Institution reports. By providing a pool of nearby workers, downtown residential growth can ease rush-hour traffic jams. Center city residents create a demand for restaurants and stores open after 5 p.m., contributing to an active night life.