Category Archives: Urban Development

JLL Research: 3 Ways Reurbanization is Revitalizing Midwest Markets

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By: Andrew Batson, Director of Research, JLL

JLL Full Circle

While cities spread throughout the Heartland are still making their comeback, the economic and investment outlook is promising according to our new research, Full Circle. The report takes a deep dive into the growth and development occurring in each of our markets, including Ann Arbor, Cincinnati, Cleveland, Columbus, Detroit, Grand Rapids, Louisville and Pittsburgh.

So, what did our research find?

Cities across the region are in the middle of a major renaissance as reurbanization continues to draw people, business and investments toward the downtown areas.

1. Young Professionals Gravitate Toward the Urban Core, Creating Need for More Multifamily Development

The face of the urban cores is changing, with the majority of each market’s downtown population made up of the millennial generation (20- to 36-year-olds), followed by generation Z (0- to 19-year-olds).

As these younger generations flock downtown, the need for more multifamily development is increasing. Each market has experienced positive population growth since 2000. What’s more is residential population has also posted impressive numbers in each market, most notably in Detroit with a downtown population of 37,700 followed by downtown Pittsburgh with 33,000.… Read More

The Cleveland Comeback: Urban Redevelopment Can Rebrand a City

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 By: Andrew Batson, Director of Research, JLL

Before the 2016 Republic National Convention (RNC), the city of Cleveland suffered a major image problem. After, however, the mindset of many of its residents and the general public changed.Cleveland Public Square

Two years of construction and planned redevelopment paved the way for Cleveland to make its way back into the spotlight—this time, with modern event facilities and trendy restaurants downtown and along the lakeshore.

Cleveland isn’t the only city using redevelopment as a tool to rebrand its image, but it provides a solid blueprint for doing so. Cities are investing more time and money into their downtown spaces in the hopes of being considered for large-scale events, becoming a tourist destination, driving business growth, and attracting top talent for current businesses.… Read More