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2018 Annual Report

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2018 Annual Report 2018 ANNUAL REPORT 8TH FASTEST GROWING 1ST LARGEST RESIDENTIAL 1ST HIGHEST CONCENTRATION OF OVER $8 BILLION IN DOWNTOWN MARKET FOR TECH TALENT DOWNTOWN POPULATION IN HEALTH SCIENCE JOBS IN THE U.S. DEVELOPMENT CBRE OHIO since 2008 Downtown Cleveland witnessed significant progress over the past year, including growth in both the number of residents and businesses in downtown, a strong hotel market that exceeded occupancy numbers over 2016, and the 10th anniversary of the Healthline, a milestone investment that helped kick over OUR MISSION start the resurgence of Downtown Cleveland ten years ago. Downtown Cleveland Alliance’s mission is 17,500 105,000 $8 billion to make Downtown Cleveland the region’s Though there is much to celebrate, it is important to remember that there are still opportunities for growth JOBS RESIDENTS in investment completed, most dynamic place to live, work, play and as well as challenges that lie ahead. The next phase of downtown development is critical to our continued highest concentration of jobs underway, and planned largest downtown in Ohio in Ohio (2008-2018) visit. progress as a neighborhood and support from our investors and advocates just like you, will help us OUR VISION achieve our goals. Our vision of a Downtown Cleveland that is not only clean and safe, but also vibrant, well connected and prosperous, is one that we can all share and that will positively impact our city, To create a vibrant city center by county, and Northeast Ohio. enhancing the pedestrian experience and attracting more investment into Downtown As we strive to advance our mission, we are grateful for the extraordinary support we receive from our 42% 4,000 $160 million Cleveland through strategic initiatives and Board of Directors, donors, volunteers, and the countless other organizations that work in partnership of downtown residents hold a in investment completed in 2018 advocacy efforts. 4 year or advanced degree JOBS with the Alliance to ensure that Downtown Cleveland is the most compelling place to live, work, play and created or retained in 2018 visit in the region. We know our work is far from over, but together we will set the stage for the next 10 years of development and excitement in Downtown Cleveland. PG | 2 PG | 3 THE REVITALIZATION OF HISTORIC EUCLID AVENUE $200 77 $3.58 2018 marked the 10th anniversary of the Healthline, DOWNTOWN recognized by the Institute of Transportation and MILLION DEVELOPMENT BILLION Policy as the leading model of bus-rapid transit in HEALTHLINE INVESTMENT PROJECTS IN DOWNTOWN INVESTMENT North America. The Healthline seamlessly connects Downtown and University Circle, linking the first and fourth largest employment hubs in the state of Ohio, and 24 percent of all the jobs in Cuyahoga County, with 24-hour, 7 day a week bus rapid transit service. $9.24 It makes Historic Euclid Avenue a pedestrian and 193 transit-oriented corridor and one that weaves historic TOTAL EUCLID fabric together with contemporary buildings like the BILLION AVENUE PROJECTS Beacon and the Lumen, providing a vision for the TOTAL INVESTMENT ON future of the rest of Downtown Cleveland. EUCLID AVENUE DCA and our neighborhood partners, the Historic Gateway District and Playhouse Square, worked to EUCLID AVENUE RENOVATIONS advocate for the creation of the Healthline, the Euclid FROM DOWNTOWN, MIDTOWN, UNIVERSITY CIRCLE & EAST CLEVELAND Historic District, the Ohio Historic Preservation Tax Credit Program, the E-Line Trolley, and the inclusion 8,142 3,448 of brick sidewalk and cross-walk pavers to enhance 24% TOTAL DWELLING UNITS RESIDENTIAL UNITS the pedestrian experience. DCA also established and OF CUYAHOGA COUNTY JOBS 54.5 percent in new or under are connected via the Healthline maintains planters along Euclid Avenue to further Downtown alone construction in 2018 improve the pedestrian environment and beautify our streetscape. Our team provides technical assistance IMPACT OF THE and advocacy support to historic preservation projects, and our business attraction, retention and 1.58 MILLION SF 23.5 MILLION SF expansion support helped Dwellworks, Cohen & Co., HISTORIC SPACE RENOVATED OF TOTAL SPACE RENOVATED Inforce Technologies, and BDO bring hundreds of HEALTHLINE jobs to Downtown. SOURCES INCLUDE: 2018 RTA Study, Cleveland State University Levin College of Urban Affairs PG | 4 The Greater Cleveland Regional Transit Authority Healthline riding along Euclid Avenue PG | 5 A LOOK BACK TO MOVE US FORWARD The history of Euclid Avenue in many ways is a In the early ‘70s grassroots efforts galvanized to reflection of the evolution of our Downtown. The stop indiscriminate building demolition and save the initial development of Euclid Avenue occurred in the historic theaters. Although Euclid Avenue remained first part of the 18th century. It attracted many of the the commercial center of the city, the energy that wealthy industrialists who helped position Cleveland entertainment and retail experiences provided was as a progressive city. Millionaires’ Row was home to lost. THE EVOLUTION OF many of the known millionaires in the United States at that time, and they all built their homes on Euclid In the 1980s and ‘90s, Downtown saw another Avenue from 6th Street along Euclid. transition with the construction of new office towers being built in and around Public Square. This EUCLID AVE As Cleveland began to grow, the city began to migration created significant commercial vacancy Playhouse Square, looking west, Cleveland, Ohio in the Fall of tax these mansions and residential structures as 1956 Postcards of Cleveland, Cleveland State University Library along Euclid Avenue in the following decades. commercial buildings. This led to these millionaires and retail heart of the city. The success of the selling their homes in Downtown and moving Recognizing the need for revitalization in the early Theaters at Playhouse Square coupled with the further east to the hillcrest areas of our eastern 2000s, DCA’s founding neighborhood partners addition of major department stores such as suburbs. Once they relocated, they began to make successfully advocated for the creation of the Euclid Halle’s, Higbee’s, Taylor’s and Sterling Lindner investments in University Circle, in cultural assets Avenue Historic District, which positioned property attracted additional commercial investment. Euclid like Severance Hall and The Cleveland Museum of owners to take advantage of historic tax credits and became the home of many firms including National Art which were “just a carriage ride away” from their combine them with multi-layered financing tools. City Bank, Ernst & Ernst and Squire, Sanders homes. & Dempsey, fueling the growth of Downtown The adaptive reuse of these historic buildings and In the later part of the 18th century through the Cleveland. the success of the Theatre District fueled a new 1920s, many new buildings were built and began momentum for Euclid Avenue, transforming the The 1960s and ‘70s, saw the rise of suburban to replace their homes. Some of these structures, “9-to-5” business district into a vibrant and dynamic shopping centers which began to erode the retail such as the historic Union Commerce building and neighborhood. and entertainment foundation of the corridor. Playhouse theaters, are still standing today. Department stores closed and the theaters were Working with our neighborhood based partners, Cleveland Trust Bank and new tower expansion project. (1970) The trend of new construction continued and Euclid abandoned for suburban multiplex movie theaters. the Alliance firmly believes this is the development Cleveland Press Collection, Cleveland State University Library Street scene of streetcar and pedestrians, Euclid Avenue near East 6th Street (1930) Avenue emerged as the commercial, entertainment blueprint for the future of our entire Downtown. Cleveland Press Collection, Cleveland State University PG | 6 PG | 7 HOW WE GREW THE LARGEST crosswalk pavers to encourage foot way were made, including planters directions to hotels and restaurants, traffic. We also advocated for the throughout downtown that helped to to information on construction and RESIDENTIAL DOWNTOWN IN OHIO trolley to accompany the Healthline, beautify the street. Connecting and events. Their work has drastically linking the Historic Warehouse District, improving the pedestrian experience changed the public’s perception of Historic Gateway District, Playhouse is our main goal as we continue to Downtown, and helped to attract development of 31 projects and added HISTORIC REDEVELOPMENT Square and Campus District with a animate downtown. additional investment along Euclid 4,000 housing units. Today, over 40 free and frequent transit connection. Avenue and throughout Downtown Downtown Cleveland, an early adopter percent of Downtown Cleveland In 2014, DCA unveiled its Step Up Cleveland. of the Federal Historic Tax Credit residents live in historic tax credit These mobility options have continued Downtown Vision and Tactical Plan, Program, pioneered the coupling of financed buildings. to expand and advance Downtown focused on better linking downtown BUSINESS DEVELOPMENT these tax credits with conservation Cleveland closer to our goal of districts with enhanced pedestrian easements and equity investments We asked Downtown Cleveland making as many mobility options as and transit connections. Historic In 2011, DCA’s Business Development from the business community. residents what they love most convenient as possible for commuters, Gateway Neighborhood Corporation
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