It's less than two square miles, but Downtown Milwaukee has more than 10 percent of the city's tax base. It is the economic and entertainment heart of the city, not to mention the entire state. It's also a growing residential neighborhood with more people living in greater Downtown than Shorewood and Whitefish Bay combined.
According to The Atlantic, Milwaukee's not alone in this Downtown growth. ¬†As Nate Berg¬†recently reported, "In all U.S. metro areas, 16.1 million people were living within two miles of City Hall by 2010, about six percent of the total metro area population of 258 million."
How does Downtown truly add up? What are its new numbers? Milwaukee Downtown, the Business Improvement District that covers Downtown proper, has released new key economic indicators. ¬†
So, here they are, just the facts. ¬†Here are Downtown's new numbers.
- More than $1.7 billion in development investment has taken place since 2005
- More than $400 million in additional projects are currently under construction
- Since 2000, population has increased by 25.5 percent
- More than 81,000 workers are employed within Downtown
- 31.5 percent of these workers have college or advanced degrees
- 60.4 percent of the study area employees live less than 10 miles from work
- Convention attendance grew by 80.2 percent between 2007 and 2011
- 3,123 criminal offenses were reported in 2011, down 21.8 percent from 2009
- 21 percent of Downtown workers are under the age of 29.
- More than half (51.5%) of Downtown Milwaukee's workers are female, and the majority of employees fall within the age 30 to¬†54 cohort (60.6%).
- Downtown's retail vacancy went from 16.9% to 16.0%, and lease rates declined from $19.71 to $18.79 between first quarters¬†2011 and 2012.
- Restaurant and bars (37.4%) and personal services (22.5%) are the top two retail categories in Downtown Milwaukee.
Those are numbers. They don't lie.
What are your thoughts about Downtown? What does it need to continue its renaissance? Chime in via the talkbacks or Facebook.
I absolutely love Milwaukee. It is easy to say "develop the Park East" or "tear down the Transit Center." Good ideas both, and I am sure the future holds great things for developments in those areas. But to me, the 2 most pressing issues are improving MPS and improving our public transportation system. If we don't, then all the fancy riverwalks and glass buildings in the world won't stand a chance against the pervasive and debilitating poverty that exists in and around our great city.
1 comment about this article.
Post your comment/review now
Disclaimer: Please note that Facebook comments are posted through Facebook and cannot be approved, edited or declined by OnMilwaukee.com. The opinions expressed in Facebook comments do not necessarily reflect those of OnMilwaukee.com or its staff.
Recent Articles & Blogs by Jeff Sherman
Published May 19, 2015
Kenny "The Jet" Smith will help make a donation to the Milwaukee Urban League Young Professionals on behalf of Coors Light, to reFRESH the community basketball court at Washington Park in Milwaukee.
Published May 19, 2015
One of the best slides from yesterday's Public Policy Forum luncheon showed a Flirk map of Downtown Milwaukee. It contrasted, by color, where locals took and shared photos vs. photos from visitors. And, the contrast was striking.
Published May 19, 2015
A new report by Hunden Strategic Partners in Chicago was presented yesterday at a Public Policy Forum luncheon at the Intercontinental Milwaukee. It calls for more connectivity and density, and makes some obvious but not apparent to all observations.
Published May 15, 2015
Stacie Callies is the executive director of the Westown Association. She's been with the Downtown organization for nearly 14 years but 2015 may signal the most change the area has even seen. Amidst arena discussions and more, Jeff Sherman caught up with Callies for this latest edition of "Milwaukee Talks."
Published May 12, 2015
The May edition of a popular food lifestyle publication that offers "life through the lens of food," is out and Milwaukee has a large presence in print and online.
Published May 11, 2015
While country music dominates the traditional radio airwaves in greater Milwaukee, Downtown Milwaukee doesn't really have a big "country festival" like several other out state cities do. Until now and this summer.
Published May 8, 2015
For me, watching "TV" is a matter of time management. I find time for things that provide value and create entertainment value in my life. I think you should too. So, here's a list of what I watch and why.
Published May 6, 2015
Hugh Bob and the Hustle's new single, "Lost and Found," will be featured on tonight's episode of "Nashville."
Published May 1, 2015
Shorts weather is here. And, to help you prepare I found an expert on the subject right here in Milwaukee.
Published April 25, 2015
Chris Rock may not be a baseball expert, but he's a fan and his thoughts on the game are entertaining and fairly spot on. He shared them recently on one of my favorite shows, HBO's "Real Sports with Bryant Gumbel."