I don’t know how many of you get the quarterly emails from Downtown Cincinnati Inc. (DCI), but I do…and I am obsessed with the quarterly reports that they put out on the state of Downtown Cincinnati. No fluff…no shenanigans, just facts. If you would like to receive the quarterly emails as well just let them know. From here though I am going to highlight some of what I think are the most important numbers/pieces of information from the 2Q report:
- The CBD/immediate periphery saw 44 condo sales and 9 single family home sales in the 2Q, selling for a median price of $279,032 and $228,000 respectively.
- 10 new retail establishments opened (including bars/clubs) while 8 retail establishments closed…but in all honesty, a good chuck of the businesses that closed had other issues not related to downtown.
- Downtown hotels continue to boast the best occupancy rates in the region (62.6%) and also saw the largest increase in occupied rooms over 2006 (+3.4%). Downtown hotels also boast the highest cost per room ($126.12) and accordingly the highest revenue per room($79.00) in the region.
- Part 1 crimes (more serious crimes) are down 11.4% and Part 2 crimes (quality of life crimes) are down 16.1% over the numbers from the same time period for 2006.
- DCI Ambassadors assisted 13,858 pedestrians, removed 23,740 lbs of trash, addressed 3,019 instances of panhandling, removed 513 graffiti tags and distributed 3,800 Go To Town Guides.
As for development…there is either proposed or under construction:
- 4,877,160 sq. ft. of space
- 2,641 residential units
- 13,800 parking spaces
- For a grand total of $1,450,300,000 in total investments.