Connect with us
[adrotate banner="51"]

Downtown

New national study: Downtown Richmond leads City’s growth over two decades

“Downtown Richmond continues to drive economic value, creativity, and innovation for the entire region.”

Published

on

Richmond’s downtown is home to more than half the city’s jobs, it has absorbed nearly half of the city’s population growth over the last two decades, and it represents 35% of the city’s total assessed property value, all on less than 5% of the city’s total land area. A study by the International Downtown Association, and recently reported by Venture Richmond, offered this and other insights.

“Downtown has a remarkable concentration of the city’s real estate and cultural assets and has been a growth driver for the City’s transformation. It has also had a significant impact on the image of the entire Region,” said Lucy Meade, Venture Richmond’s director of economic development and community relations.

As part of Venture Richmond’s Annual Community Update, David Downey, President and CEO of the International Downtown Association, provided insights into how downtown Richmond is well-equipped to rebound from the financial challenges stemming from the pandemic while sharing a new study examining the value of Richmond’s downtown.

Various generations – from Generation Z to older populations – continue to have a high demand for the downtown experience, according to Downey. He noted that Richmond’s strong housing market, walkability, quality open spaces, and diversity scores, particularly in downtown, are positive indicators for the future.

“Downtown Richmond continues to drive economic value, creativity, and innovation for the entire region,” Downey said.

With the COVID-19 vaccine distribution continuing, Downey emphasized the need for companies to create productive and efficient plans for returning to the office to address the potential loss of innovation, creativity, and collaboration when working virtually.

During the event, Downey also shared takeaways from The Value of Downtowns and Center Cities, a report that quantifies the value of U.S. downtowns across more than 150 metrics under five core value principles with a focus on how downtowns contribute to the city and region around them. From 2017-2020, the IDA analyzed a total of 37 downtowns and center cities across the country.

The pre-COVID study finds that not only does Richmond’s downtown account for a significant proportion of the region’s jobs, but the city’s core experienced the region’s biggest percentage spike in residential population growth since 2000.

The significant and insightful results from the study included the following highlights. The full report can be found atVentureRichmond.com.

Jobs

Richmond’s downtown accounted for more than half (53%) of the city’s jobs (77,465 out of 147,251) compared to the average of 40% for other “established Downtowns” in the study. Richmond leads the list of “established downtowns” with 63% of the City’s knowledge industry jobs, which is relatively higher than Seattle (58%), Minneapolis (58%), and Miami (52%); compared to the average of 41% for other “established Downtowns.”

The private sector employs 66% of jobs Downtown (50,910 jobs) and knowledge industry jobs account for 35,100 jobs.

Workers in the city center are better educated, comparably. Two in five (39%) of downtown workers have at least a college degree vs. one in three (33%) workers citywide and 31% in the region.

Residential Population

Downtown is young and educated. Today, 40% of our residents are between 18-24, and 30% of residents are between 25-34. The Downtown residential population is well educated with 57% having a bachelor’s degree or higher—up from 40% in 2010 and 40% are enrolled in college.

Most impressive was the increase in residential units, soaring 71% since 2010. However, only 14% of downtown residents own their own homes, but the racial balance of homeowners in downtown is close to even: 51% white vs. 49% non-white.

Economy and Quality of Life

Downtown is an entertainment and tourism destination with 70% of the citywide hotel rooms located Downtown – 16 properties with 2,581 rooms.

According to the report, Richmond’s downtown has one-fourth of the city’s retail businesses (478) and one-third of its restaurants and bars (252). Total annual downtown retail sales of $526 million represent 23% of the city’s retail sales. Non-Downtown residents account for 55% of that economic activity. The city center’s restaurants, bars, and breweries generate a combined $221 million in annual sales, 89% of which come from non-residents.

Downtown received a strong Walk Score of 94% and a Bike Score of 80% compared to other established Downtowns and an average Walk Score of 85% and Bike Score of 70%.

The report found that downtown Richmond’s sustainable transportation numbers left room for improvement with 65% of Downtown residents commuting alone compared to 35% commuting to work using a sustainable form of transportation (i.e. do not drive to work alone).

“As our downtown businesses continue to meet the challenges imposed by the pandemic, this IDA report is a timely reminder of the value that downtown Richmond brings to both the city and the region,” said Lisa Sims, CEO of Venture Richmond.  “Our downtown will always play a significant role in our economic, civic, and cultural lives. As more people receive the vaccine, we are confident in the economic rebound of downtown.”

To view the full IDA report online, visit Venture Richmond’s website here: https://venturerichmond.com/about-us/reports/2020-ida-study-richmond/

Comments

comments

Trevor Dickerson is the co-founder and editor of RVAhub.com, lover of all things Richmond, and a master of karate and friendship for everyone.

Continue Reading
Advertisement

Downtown

CDC says the vaccinated should wear masks indoors in areas with high infection rates

Federal health officials on Tuesday urged Americans in areas of the country with the highest surges in COVID-19 infections to once again wear masks when they are in public, indoor settings — even if they are fully vaccinated against COVID-19.

Published

on

By Laura Olson

The updated recommendations marked a sharp shift from the agency’s guidance in May that Americans fully vaccinated against COVID-19 do not need to wear a mask in most situations, indoors and outdoors.

The updates also included changes for schools, with federal health officials now urging everyone in K-12 schools to wear a mask indoors. That includes teachers, staff, students and visitors, regardless of vaccination status and the level of community transmission.

The update in CDC guidance was prompted by new data indicating that although breakthrough infections among the vaccinated are rare, those individuals still may be contagious and able to spread the disease to others, said Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention.

Wearing a mask indoors in areas with “substantial” or “high” transmission of the virus could help to reduce further outbreaks of the highly contagious delta variant, she said.

Some 39 states have infection rates that have reached “substantial” or “high” levels of transmission, according to a data tracker on the CDC website. The CDC rates Virginia, with 56.4 cases per 100,000 people over the past seven days and a 5 to 8 percent positivity rate, as having a “substantial” level of community transmission. However, that varies widely by locality.

“As always, we will thoroughly review these recommendations,” said Alena Yarmosky, a spokeswoman for Gov. Ralph Northam.  “The governor has taken a nuanced and data-driven approach throughout this pandemic—which is why Virginia has among the nation’s lowest total COVID-19 cases and death rates.

“As he has said repeatedly, the only way to end this pandemic is for everyone to get vaccinated. The facts show vaccines are highly effective at protecting Virginians from this serious virus — over 98 percent of hospitalizations and over 99 percent of deaths have been among unvaccinated Virginians.”

The agency also tracks infection rates on the county level, and 63 percent of U.S. counties are in those two categories of concern.

“This was not a decision that was taken lightly,” Walensky said. She added that other public health and medical experts agreed with the CDC that the new information on the potential for vaccinated people to have contagious infections required the agency to take action.

President Joe Biden described the agency’s revision on recommended mask use as “another step on our journey to defeating this virus.”

“I hope all Americans who live in the areas covered by the CDC guidance will follow it,” Biden said. “I certainly will when I travel to these areas.”

The mask-use changes may not be the only changes coming as the White House attempts to respond to the spiking infections. Biden also said Tuesday that a vaccination requirement for all federal employees is under consideration.

The U.S. Department of Veterans Affairs already has required its frontline health care workers to be vaccinated against COVID-19.

But the new recommendations on masks are expected to be met with resistance.

Areas of the country with the highest spikes in COVID-19 infections tend to be those with the lowest vaccination rates and places that were the fastest to end mask mandates for public settings.

Some have taken legal steps to prevent future mask mandates. At least nine states — Arkansas, Arizona, Georgia, Iowa, Oklahoma, South Carolina, Texas, Utah and Vermont — have enacted legislation that prohibits districts from requiring masks in schools, according to a CNN analysis.

Iowa Gov. Kim Reynolds, a Republican, blasted the updated guidance in a statement Tuesday, describing it as “not grounded in reality or common sense.” Iowa’s level of community transmission is rated as “substantial” in the latest CDC map. 

“I’m concerned that this guidance will be used as a vehicle to mandate masks in states and schools across the country, something I do not support,” Reynolds said, adding that the vaccine “remains our strongest tool to combat COVID-19” and that she will continue to urge vaccinations.

Walensky sidestepped a question during Tuesday’s news briefing about the level of compliance that the CDC expects with the new recommendations, saying only that the way to drive down rising community transmission rates is to wear masks and to increase vaccination rates.

Comments

comments

Continue Reading

Community

Train Derailment Near Hollywood Cemetery Again

This derailment occurred Friday afternoon. A train also derailed in the same vicinity on June 9th.

Published

on

All photos courtesy of RFD Twitter.

Posted by RFD Twitter on July 23rd

At approximately 1:26 p.m., crews responded to an area down the North Bank Trail near Hollywood Cemetery for the report of a train derailment. Once on scene, they found multiple freight cars that had been tipped over. The cars were carrying coal.
Some of the load spilled onto the track and ground in the area, but there was no coal in the water. No injuries reported. The incident was marked under control at 1:59 p.m. and turned over to CSX.

Comments

comments

Continue Reading

Community

Suspect Sought in West Clay Street Burglary

At approximately 4:57 p.m. on Thursday, June 24, the man in the photos climbed a wall in the rear of a house, located in the 00 block of West Clay Street, broke into the residence and stole a computer and credit cards.

Published

on

Richmond Police detectives are asking for the public’s help to identify the individual in the attached photos who is a suspect in a residential burglary that occurred in the Jackson Ward neighborhood last month.

At approximately 4:57 p.m. on Thursday, June 24, the man in the photos climbed a wall in the rear of a house, located in the 00 block of West Clay Street, broke into the residence and stole a computer and credit cards. A photo of his distinctive pink and black sneakers is also attached.

 

Anyone with information about the identity of this person is asked to call Fourth Precinct Detective J. Land at (804) 646-3103 or contact Crime Stoppers at (804) 780-1000. The P3 Tips Crime Stoppers app for smartphones may also be used. All Crime Stoppers methods are anonymous.

Comments

comments

Continue Reading

Richmond Weather