City with most positive momentum?

[TVN]

Which US city has the most positive momentum right now? (In the generel growth), and what could be the main reason?

[DowntownIndianapolis]

Indianapolis.
One of the main reasons is we just got done hosting Super Bowl 46. and were the first northern city to be put on the Super bowl rotation list.
Also our cities budget is balanced and were the fastest growing city/metro in the midwest.
Thats due in part to Indianapolis being the most affordable real estate market in the country and having a cost of living 15% lower than the national average. Low Taxes too
Plus downtown is the action place of Indiana and hence why more people are moving to Downtown.

[mhays]

Seattle, maybe. The economy is bad here too, but it's easy to forget.

(This will sound like bragging, and it is. Sorry.)

Within the city limits, we have our biggest rental apartment boom ever underway, maybe around 5,500 underway, plus 1,500 dorm beds. Greater Downtown has about 3,400 of those rentals underway in an area around 2,000 acres. (No condos, so admittedly nothing like the underway unit total of 2007 etc.) Developers are lining up in hopes of starting thousands more this spring/summer. Even suburban nodes are beginning to start some projects, usually in urban form.

Microsoft, Costco, Amazon, Starbucks, Nordstrom, PACCAR (Kenworth/Peterbilt), and Boeing have been seeing strong sales growth and profits. Our top few HQs are each multiples of the largest HQ in some peer cities. Boeing isn't an HQ anymore, but they employ 80,000 locally and growing, poor us. Amazon is growing explosively and building millions of square feet near and in Downtown including three 1msf towers recently announced. I've lost count of the companies moving into Downtown or growing, speaking as a contractor who gets RFPs for many of them.

On the transportation front, we have $20b of voter-approved transit projects underway or coming including a subway currently boring north from Downtown. The airport recently added another runway, and has gathered several more overseas routes in the past year or two. We recently started replacing a hated Downtown viaduct with a deep bypass tunnel and a surface boulevard.

Greater Downtown has a couple moderate sized museums under construction. A few office buildings are being built (Amazon and a few others). Target is renovating a building and will open in July. The tourist market is back to normal counts, even though they're spending less.

The Gates Foundation gives away billions per year, a sizeable chunk of it locally, often for biomedical research.

[QuantumX]

Originally Posted by TVN

Which US city has the most positive momentum right now? (In the generel growth), and what could be the main reason?

You should visit the Miami forum sometime. There is too much going on to even begin to mention here.

[CincyBearcats]

Originally Posted by DowntownIndianapolis

Indianapolis.
One of the main reasons is we just got done hosting Super Bowl 46. and were the first northern city to be put on the Super bowl rotation list.
Also our cities budget is balanced and were the fastest growing city/metro in the midwest.
Thats due in part to Indianapolis being the most affordable real estate market in the country and having a cost of living 15% lower than the national average. Low Taxes too
Plus downtown is the action place of Indiana and hence why more people are moving to Downtown.

Get your facts straight. Columbus is growing faster than Indianapolis, almost twice as fast. 4.8 vs 10.6%....

I want to see facts, articles, etc to back yourself up on. You sugarcoat Indianapolis like there is no tomorrow.

[Sean in New Orleans]

The one you haven't heard too much about, yet, but, will in the next few years: New Orleans.

[diablo234]

Pretty much all of the Texas cities (DFW, Austin Houston, San Antonio), Oklahoma City, New Orleans, Salt Lake City, and Denver have alot of projects and infill development taking place as of right now and those cities also have some of the lowest unemployment rates in the US.

[GarfieldPark]

To CincyBearcats: He said fastest growing city/metro. I interpret this as fastest growing metro -- which is the way population issues are most accurately discussed since metro populations are looked at in the same way across the nation. "Fastest" growing might not be the best term. The largest net gain in population was in Chicago -- although their percentage increase was only about 5%. Indianapolis has the strongest growth rate of any metro area in the Midwest and Northeast at about 14.8%. It was just minutely above Columbus, OH's metro area growth rate. Plenty of what DowntownIndy said is a little overblown -- but stating that Indy is the fastest growing large metro in the Midwest is accurate.

[QuantumX]

Originally Posted by PeterSmith

From the Atlantic Cities: http://www.theatlanticcities.com/job...ng-again/1396/

Why Miami's Real Estate is Booming Again
Richard Florida 8:00 AM ET Comments Reuters



Florida's housing market is a misery, as I wrote about in a recent post. But as a commenter rightly pointed out, that this isn't the whole story. When you look at housing from a city level, some Florida metros, like South Beach and downtown Miami, have recovered nicely.

As the New York Times reported last week, Miami's housing market is doing much better than other warm, sunny vacation and second-home destinations, like Phoenix or Las Vegas. Even though its real estate prices have plummeted considerably from their peak, they remain nearly 38 percent above their 2000 levels according to the Case-Shiller Home Price Index, while Phoenix home prices are just 2 percent above their 2000 levels and Las Vegas home prices have dipped to nine percent below their 2000 values.

What forces have enabled Miami to rebound while the broader state of Florida and other U.S., resort, and second-home destinations have faltered? Well in several important ways, Miami is different.

First and foremost, Miami is a big metro, much larger than greater Phoenix or Las Vegas. It's home to more than 5.5 million people, making it the nation's eighth largest, roughly the same size of greater Washington, D.C., and just slightly smaller than greater Houston or greater Philadelphia.

Its economic output or gross regional product is more than $250 million compared to $190 million for Phoenix and just $91 million for Las Vegas. Plus, Miami is the economic hub of the enormous So-Flo mega-region, the world's 15th largest, home to 15.1 million people and producing $430 billion in economic output - bigger than Norway and about the same size as Taiwan or Sweden. Of course, Miami serves as a major center for Latin American and global commerce.

Miami's resurgence is being driven more by global than local forces. Miami is a hot spot for buyers from Latin America, Europe, and Asia who are drawn to its comparatively low prices as well from big U.S. metros like New York, D.C., Chicago, Philadelphia, Los Angeles, and Atlanta. As the Times notes:

As in New York, the very high end of Miami’s market is surging. The buzz among top brokers here is of big-ticket sales to deep-pocketed international buyers, rather than foreclosures, painful lessons from easy credit and unrestrained speculation.

After sitting on the sidelines during the crash, rich buyers started piling back in last year. “They realized that if they were going to buy they had better do it now,” said Jill Hertzberg, a broker with Coldwell Banker.

This is facilitated by its global connectivity. In contrast to many other resort cities, Miami is connected by direct flights to a wide variety of global cities in Europe, Latin America, and around the world.

There is a flip-side to Miami's rebound. While the super-rich are buying, locals continue to suffer. Wages and income levels are low, and the metro has a high level of income inequality. Miami's housing market and broader economy remains highly uneven and divided. While South Beach and the downtown corridor may be booming, the area inland is rife with housing misery, foreclosures and homelessness. The economic and social distance between the the global super-rich and suffering locals is substantial and growing.

Miami is not just a resort destination, but a global economic spike. The flip side of globalization has been the transformation of a small number of global cities — London, New York, and Hong Kong, for example — into locational hubs for what Chrystia Freeland has dubbed "the global super-elite." Miami fills an intriguing niche in the global economy, which combines elements of a global economic and financial center and an international resort and second-home destination, with all the growth and unevenness that comes with it.

Brickell Citicentre (which has been compared to New York's Rockefeller Plaza) is already under construction with several new projects to start this year.
image hosted on flickr

CSC_1070 by QuantumX, on Flickr

[CincyBearcats]

Originally Posted by GarfieldPark

To CincyBearcats: He said fastest growing city/metro. I interpret this as fastest growing metro -- which is the way population issues are most accurately discussed since metro populations are looked at in the same way across the nation. "Fastest" growing might not be the best term. The largest net gain in population was in Chicago -- although their percentage increase was only about 5%. Indianapolis has the strongest growth rate of any metro area in the Midwest and Northeast at about 14.8%. It was just minutely above Columbus, OH's metro area growth rate. Plenty of what DowntownIndy said is a little overblown -- but stating that Indy is the fastest growing large metro in the Midwest is accurate.

I see what you're saying, but as far as city, within the city limits itself, Columbus is still growing the fastest and by a significant amount over Indianapolis. So if you want to say fastest growing city in the Midwest/Northeast, Columbus holds that title. As far as fastest growing metro area, isn't Madison, Wisconsin growing faster?

[bayviews]

Originally Posted by CincyBearcats

I see what you're saying, but as far as city, within the city limits itself, Columbus is still growing the fastest and by a significant amount over Indianapolis. So if you want to say fastest growing city in the Midwest/Northeast, Columbus holds that title. As far as fastest growing metro area, isn't Madison, Wisconsin growing faster?

Columbus has been Ohio's boomtown for decades,
Glad to see it's still going well!

How long though might boomtimes last though? given its the capital of a state where many of the cities & towns have been struggling for a long time?

I'd guess Indy faces somewhat similar challenge.

[CincyBearcats]

Originally Posted by bayviews

Columbus has been Ohio's boomtown for decades,
Glad to see it's still going well!

How long though might boomtimes last though? given its the capital of a state where many of the cities & towns have been struggling for a long time?

I'd guess Indy faces somewhat similar challenge.

Columbus' population has been quite steady over the last two decades, but nothing like how it was growing in the 70s. Ohio is unique in the fact that unlike most states in the country, we have quite a large amount of cities, and they are all really doing wonders these days. Akron has completely reinvented itself, Cleveland is booming, and Cincinnati has more companies than any other city its size, and these companies are building all kinds of new buildings throughout the CBD. From new smart urban development, to public transit, Ohio is really going somewhere. I hate John Kasich for stopping the 3C Corridor, but what can you do? Cincinnati's streetcar is under construction, a billion dollar development is underway on the central riverfront, and Cincinnati has some of the best, most attractive neighborhoods in this part of the country. Cleveland is building a new convention center and medical mart to show off its booming medical based economy, the Flats East Bank, the city's neighborhoods are doing great things like Ohio City and University Circle. Akron's economy has went from steel to high tech and has done a great job of transforming that city. Dayton is a hub for aerospace technology. With being 7th in population in the country and 5th in the country for fortune 500 companies, being rated just recently the best state to do business in, and our cities seeing some of the highest development in the Midwest and Northeast, Ohio is doing something right. Cleveland's downtown has been compared to the renaissance of what happened in Center City Philly.

It's not all about Columbus. Whereas in Indiana, Wisconsin, Illinois, or Michigan where most of the money is going to one city, Ohio is spreading its money across the state to several large cities. So I am pretty excited to see all the development happening in other cities in the state outside of Columbus. Big money projects that are game changers.

[CincyBearcats]

On that note, I always believe in backing yourself up with facts. I advocate that is very important of forums where people are always trying to boast their city, state, or region/country. I tried to go along with this threads positive momentum, and talk about all the great projects happening here in Cincinnati, but I guess with being a new member, I am limited to what I can post?

Here are some of the links for what I said in my previous post. I don't just say stuff to say it and make a point that way; I will back myself up.

Ohio 5th for fortune 500 companies:

http://money.cnn.com/magazines/fortu...states/OH.html

As much as I hate Kasich, Ohio won the Governor's cup with 498 new projects. Texas came in second with 464.

http://www.vindy.com/news/2012/mar/0...s-kasich-ohio/

Unemployment is pretty moot, I know it isn't exactly a great indicator of what is happening in a state's economy. But Ohio sits at 7.7% under the national average of 8.3%, and much better than surrounding states or other heavily populated states. Ohio's largest metro areas also sit well under the national unemployment rate, once again, it's not all just about Columbus.

[QuantumX]

Originally Posted by CincyBearcats

On that note, I always believe in backing yourself up with facts. I advocate that is very important of forums where people are always trying to boast their city, state, or region/country.

It's not so much a matter of boasting my own city as it is keeping people up on current affairs who don't seem to be.

image hosted on flickr

5711524998_e7ee672b27_o by Quantum2010, on Flickr

image hosted on flickr

citicentre by Quantum2010, on Flickr

image hosted on flickr

6247872178_c30a4e90f8_o by QuantumX, on Flickr

Originally Posted by miami1

Brickell House looks like its going to be as tall as Jade and Spiritu Santo from this rendering. The new intro at their website has a better rendering...www.brickellhouse.com

[IMG][/IMG]

The Chelsea


http://www.loopnet.com/Listing/14604...Blvd-Miami-FL/

And it appears to be a pre-crash proposal from 2006: http://www.skyscrapercity.com/showpo...&postcount=865

Originally Posted by jesus2000

[GarfieldPark]

CincyBearcats: It is good to hear about all of the positive things happening in Ohio. I know downtown Cincy has much going on -- and Columbus is always doing pretty well as well. I hope Cleveland keeps moving in the right direction. As far as Columbus and Indianapolis -- the truth is - they are amazingly similar in so many aspects. Both are growing at almost the exact same rate. Columbus may show faster numbers for the city itself - and this has a lot to do with where the boundaries are for the city. Suburban growth keeps happening in both cities (as well as downtown growth) -- so if there are suburban areas that are within the city limits - it will show up as city population growth. Metro area comparisons are the best ways to compare what is going on with overall population growth - and like I said -- Indy and Columbus are almost exactly the same in this aspect.

[desertpunk]

Austin, Miami, Oklahoma City and Houston. With more on the way!

[QuantumX]

Originally Posted by desertpunk

Austin, Miami, Oklahoma City and Houston. With more on the way!

Even our own boss said that I had one of the most active forums. That is because there is just so much going on down here. It will be interesting to see what the Miami skyline looks like once our supertall One Bayfront Plaza is completed in 2018. There is so much more to come between now and then. Being a skyscraper enthusiast for decades now, I feel like a kid at Christmas again!

[desertpunk]

After 2008 they said that it would take a decade for Miami to recover and fill all those empty towers. Well guess what?

TRD

Once-empty downtown Miami condos reach 93 percent occupancy
March 09, 2012 12:00PM



The once-vacant “condo canyon” in downtown Miami has been almost entirely filled up, according to a report from the Downtown Development Authority, the Miami Herald reported. Approximately 93 percent of the 23,000 condominiums built in Miami since 2002 like Icon Brickell are now occupied. “I always encourage my clients to bring their checkbooks for the first month’s rent,” said Lauren Popham, a rental specialist with Jeanne Baker Realty. “There is a lot more demand than there is supply.” The 93 percent number, up from 65 percent in 2008, means about 1,000 units are vacant in the area. “We were hearing from everybody driving down the road: Hey, the condos are empty,” said Alyce Robertson, director of the Downtown Development Authority. “You never know what the numbers are going to say. What if they really were all empty?”

[mhays]

The people who predicted a decade weren't thinking clearly.

They were probably basing it on condo absorption rates. They forgot about fire sales. When developers get desperate, or lenders take over, prices will drop as much as necessary. If your population is growing and the properties stay desirable (as a managed building generally will), the homes will sell eventually.

Of course, prices still have to rise back to sustainable levels before any new condos get built.

Apartments, on the other hand, don't need condos to be healthy. They just keep breaking ground in my city even while condos remain (a little) overbuilt.

[bayviews]

Originally Posted by TVN

Which US city has the most positive momentum right now? (In the generel growth), and what could be the main reason?

Philadelphia & Milwaukee.

Nope, these aren't boom towns.

However over the past decade both ended decades of decline & began re-growing.

How: Both cities made special efforts to attract large numbers of new immigrants from nearby gateway cities, NYC in the case of Philly, Chicago in the case of Milwaukee.