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 Dec. 16, 2014
With the holiday seasons in full swing, OnMilwaukee.com, our ShopLocal marketplace and Local First Milwaukee have teamed to offer many unique, local items and deals. Here's the first one.
Published Dec. 10, 2014
The SURG Restuarant Group and owners Michael Polaski and Omar Shaikh have brought together some unique "once in a lifetime" opportunities all to help a friend and military leader with more than 20 years of service.
Published Dec. 9, 2014
Come on, good people of Milwaukee, let's put an end to the phrase "I'll do the ...." It's "may I please have (or order) the honey wheat bagel?" "Thank you." That's how you place your order.
Published Dec. 7, 2014
Thrillist has issued its 2014 list of "The 21 Best New Restaurants in America." And, one Milwaukee restaurant makes the cut.
Published Dec. 2, 2014
They're fun, easy to use, free for those less then 30-minute trips to meetings and a great addition to our city's transit infrastructure. But, after today, they're gone for the season.
Published Dec. 1, 2014
The Milwaukee Holiday Lights Festival ornaments are one-of-a-kind keepsakes. Great gifts for family, friends, co-workers and business associates, each year features an iconic Downtown landmark cast in pewter.
Published Dec. 1, 2014
Cracked Designs brings a unique flare and fun to its posters, cards, T-shirts and more.
Published Nov. 30, 2014
Griselda Aldrete is a Milwaukeean by birth, but spent her early childhood in Mexico. Leadership, mentorship and community are her passion points. She talks about these and more in this latest edition of "Milwaukee Talks."
Published Nov. 25, 2014
WSJ.com published an indepth piece on shopping today. Specifically, the story centers around shoppers in the greater Milwaukee area.
Published Nov. 22, 2014
Since we're nearing the end of Movember I asked an expert at Froedtert & the Medical College of Wisconsin a few questions about prostate cancer.