Downtown Cleveland closed out 2019 with a compelling set of numbers that told the story of a urban core hitting its stride. With over 106,000 jobs — the largest employment base in the state — and a 321% increase in management positions since 2015, downtown’s economic engine was running strong. The office market logged 44 lease transactions totaling roughly 540,000 square feet, while the residential picture pointed toward a major milestone: with over 1,100 units under construction and steady absorption of new supply, downtown was on track to reach 20,000 residents by the end of 2020. That growing population was also notable for its diversity, representing one of the most economically and racially varied communities in the region. Capping it all off, downtown completed $535 million in total investment in 2019 and continued to generate more than a quarter of the city’s property tax revenues — proof that a thriving urban core lifts the entire city.

2019-DCA-Annual-Report