Tuesday, September 21, 2021

Data shows downtown residential is hot

Downtown Cleveland’s residential market has proven resilient in
the face of recent crises. Now it is on course to break through the
30,000 population ceiling by the end of the 2020s which should
attract more employers and neighborhood-style retailers, perhaps
even some regional retailers as well (LoopNet).

 If you spend too much time on social media, you might encounter a few folks who are under the false impression that parts of downtown Cleveland burned to the ground during the nationwide racial unrest last year. But while downtown’s commercial market is still recovering from the ongoing pandemic, the residential market is hot. You might even say it’s on fire.

Three data sets confirm this. One is downtown’s population, which is now above 20,000 people using the only resource that matters — the U.S. Census. Another is a recent CoStar report that says downtown apartment demand is on pace for a record-breaking year. The third data set comes from a unique source.


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