Why is Downtown becoming such a hot zone? Progressive Urban Management Associates prez Brad Segal (here with Downtown Dallas Inc’s John Crawford) identifies three key factors from his study with the University of Colorado: global, national, and local economic and social trends that are favorable to inner city development.
1) The rise of Gen Xers. They’re getting real jobs and taking leadership roles. Plus, Millennials want to move toward urban cores. Corporations chasing this talent pool see the move to city centers as one way to appeal to them.
2) Downtown cores will need more K-12 education opportunities. Those Millennials who have kids need a place for them to go to school. Just ask The Lion King: it’s the circle of life.
3) As the urban lifestyle grows, quality-of-life amenities will be critical to a Downtown’s growth. We’re not talking about having a 7-Eleven for a quick Shiner run, but public transportation, parks, trails, recreation, and programs like bike and car share.
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