2012 State of the Center City ReportJanuary 24, 2013 4:02 pm
Center City has emerged from the recession with a more diverse economy, a rebounding office market, and investments in new cultural venues and 21st century transportation infrastructure. These investments have laid the foundation for recruiting new companies and a talented workforce to Charlotte.
The influx of the educated and upwardly mobile Generation Y is a primary driver for a new residential development cycle, as they seek walkable and dynamic neighborhoods. These young professionals will be a key factor in Charlotte’s continued competitiveness, as they become the majority of the workforce in less than a decade. View an online version of the report or download the full report.
Uptown hosts 41% of the region’s office space and continues to outperform most of its peer cities in this capacity.
Residential construction in Center City is booming. $300 million is going into new projects that will increase total housing stock in Center City by 20%. These developments will deliver more than 2,500 units in 2013.
With the residential population booming, the future for retail is bright. Every weekday, 21,000 pedestrians and 10,000 cars pass through the intersection of Trade and Tryon streets, at the heart of Center City.
South End is maturing as Charlotte’s prime design destination, with more than 130 home furnishing and creative businesses. In 2012 alone, the South End neighborhood welcomed 30 new retail and entertainment businesses.
11 million visitors come to Center City each year. In 2012, Charlotte also welcomed 35,000 delegates and visitors—and nationwide attention—for the Democratic National Convention.
On The Go
New systems make it easier to “park once” in Center City. There are more than 46,000 parking spaces in Center City, and 15 decks with real time availability technology. Charlotte B Cycle, a new bike sharing system, provides 200 bikes for short trips around town during the work day.
In 2012, Charlotte secured a full federal funding agreement to extend the blue line light rail 9.3 miles north to UNC Charlotte.
Charlotte Douglas International is the 6th busiest airport in the world.