Downtown Cleveland Champions
2024 Development & Advocacy Report
Letter from the President + CEO
“Downtown Cleveland, Inc. is the champion for downtown’s future. We are the economic development and advocacy organization solely dedicated to building up the heart of Cleveland itself. This year has proven just how critical this role is to the community and region.”
-Michael Deemer, President + CEO
Downtown Cleveland is the champion for the city center. We are the only economic development and advocacy organization solely dedicated to building up the heart of Cleveland itself. This year demonstrated just how critical this role is to the community and region.
Our downtown emerged from the pandemic stronger and better positioned than most. We lead the nation in office conversions. We rank first in Ohio and second in the Great Lakes region in downtown recovery. Our visitor and workforce recovery ranks in the top ten among large American cities. Over the last year, downtown foot traffic increased, office workers steadily returned, visitor traffic nearly eclipsed pre-pandemic levels, and investment grew.
Despite this progress, challenges remain. Safety perceptions, despite declining crime rates, can pose barriers to people coming downtown. A struggling office market, high development costs, and an aged public realm threaten economic growth. We confidently confront these challenges with an ambitious vision, clear strategy, and dogged work.
The City’s Reimagining Downtown framework has guided this work over the last year. Reimagining Downtown seeks to accelerate completing the core’s transformation from a traditional central business district to a dynamic, 18-hour, 15-minute neighborhood. This Development & Advocacy Report chronicles our work and progress in reimagining downtown.
In the year ahead, we will cease speaking of recovery and shift toward advancing a Greater Downtown Vision. We will weave together existing plans, support private development, and connect downtown with bold placemaking. To achieve this vision, we will engage Downtown Champions—business and civic leaders, public officials, residents, small business owners, and entrepreneurs—to support and help implement.
Thank you,
Michael Deemer - President & CEO, Downtown Cleveland
2024 Highlights
2024 At a Glance
Foot Traffic
38M
Total Visits by residents, visitors, and workers
Residents in Downtown Cleveland
Residents
21K
86.2% overall recovery
Occupancy
+850 units completed or under construction
90%
Housing
Development
$1.3B+
In private and public development completed or underway
Office Market
81.9%
Overall Occupancy
*71.9% peak return-to-office rate
New storefront openings
Retail
29
6M total airport passengers YTD
Peak hotel occupancy
75.7%
Hospitality
Transit
14.1M
RTA Passengers YTD
*Compared to 2019
Housing & Real Estate Development
Growing downtown Cleveland’s residential population is at the center of Reimagining Downtown. The plan aims to accelerate our transformation from a traditional 9-to-5 business district into a truly mixed-use neighborhood with diverse housing options. A strong residential base is critical to ensuring that downtown is economically resilient, safe, and vibrant.
There are approximately 850 new units slated for completion this year, stemming from three transformational projects: The Bell, Skyline 776 (formerly known as the City Club Apartments), and Ten60 Bolivar. These projects result in a combined $240.5 million investment in our residential housing supply.
Year to date, occupancy holds steady at 90% with the average cost of a rental unit at $1.79 per square foot. So far this year, 21 for-sale residences have sold at an average price of $203.36 per square foot, underscoring the demand for more for-sale housing options.
Housing development will continue this strong growth trajectory, with three more projects in the planning stages. By the most conservative estimates, our 2023 Housing Demand Study projects that there is enough demand for downtown living to reach 26,000 residents with an additional 4,400 units by 2032. Our advocacy agenda takes a strong position on the need to eliminate barriers for converting underutilized properties into market-rate and affordable housing and build more for-sale housing.
Real Estate Development Map
Hover over the colored circles below to see project information:
Office Market
In June 2024, downtown Cleveland saw its highest return-to-office rate post-pandemic, reaching 71.9%* compared to June 2019. In most cases, downtown employers have settled into their post-pandemic work arrangements. Hybrid workweeks are still dominant, and our data shows consistently high levels of daytime foot traffic Tuesday through Thursday.
Total workforce recovery - inclusive of office, service, and hospitality workers – demonstrated year-over-year recovery every month of this year so far. We attribute the increase in worker activity in part to our work enhancing the downtown experience through public space programming and activation.
Despite several office buildings experiencing financial distress, office leasing remained relatively stable throughout the first half of 2024. Overall office occupancy was 81.9% at the end of Q2, at an average rental price of $20.85 per square foot and Class A space was 82.7% occupied at a price of $24.26 per square foot.
In 2025, our Economic Development Committee will conduct a commercial real estate assessment to create data-informed policy recommendations for business attraction, job creation, and office modernization.
*Source: placer.ai
Major Recommitments to Downtown
Hover over the colored circles below to see new and renewed leases:
Retail
So far this year, Downtown Cleveland has welcomed 29 new storefront tenants. These businesses range from unique experiences to traditional shopping, but food and beverage dominate the retail landscape. This is due in large part to our significant “visitation drivers,” including Playhouse Square, The Rock and Roll Hall of Fame, our three professional sports stadiums, and multiple live music venues. These types of destinations often bring people downtown from across the region, who tend to stop at a restaurant or bar before or after their event.
Our goal in implementing Reimagining Downtown is to create both the pedestrian experience and the storefront economy that encourages people to come earlier before their event and stay later after. At the same time, we must have a retail environment that allows the thousands of neighborhood residents to meet their daily needs. Our Economic Development & Planning Committee is focused on creating the environment for retail to succeed through targeted streetscape and public space improvements, strong research and marketing, and a business attraction strategy that supports retail brokers in the community.
Additionally, we launched the new DTCLE Happy Hour Maker’s Market, a vendor market series that adds shopping options for visitors and residents while spotlighting local entrepreneurs. These markets offer low barriers to entry for small businesses while providing an opportunity to develop a following that might support moving up to a brick-and-mortar space in the future.
Retail Openings in Downtown
Hover over the colored circles below to see retail opening information:
Parks + Public Spaces
Improving downtown’s public spaces is essential to attracting people, jobs, and investment to the urban core. Reimagining Downtown focuses on making downtown’s parks feel inclusive, accessible, and active with community-focused programming. In addition to producing 340 public space activations this year, Downtown Cleveland secured nearly $1 million in new funding to make longer term investments in our parks and public spaces.
We envision a downtown park system that provides opportunities for play, recreation, and true respite. To realize this vision, we must enhance existing parks with lighting, seating, public restrooms, infrastructure for sports and children’s activities, and excellent maintenance. Upon assuming responsibility for managing, maintaining, and programming Public Square and Malls B and C this year, our team immediately got to work raising money to make these types of improvements in these spaces and across downtown. This is in addition to the resources we already allocate to maintaining the planters and hanging baskets along Euclid Avenue and overseeing the landscaping at Perk Park and North Coast Harbor.
Downtown Cleveland Raised…
$750,000 in capital funding for public play design and equipment from the State of Ohio
$100,000 for Public Square improvements from Project for Public Spaces
$100,000 from the Cleveland Tree Coalition and the Cuyahoga County Healthy Urban Tree Canopy to begin reforesting downtown
Our team strongly supports the development of new parks and public spaces, including our waterfronts.
Canal Basin Park
Downtown Cleveland serves on the steering committee for the master planning process. The visionary improvements planned for the riverfront park would create new opportunities for people to enjoy the east bank of the Cuyahoga River and provide a world-class experience at the terminus of the Towpath Trail.
The Riverfront
The 15-to-20 year vision will reimagine 35 acres of riverfront and transform Tower City. This development will include the addition of 2,000 residential units, 850,000 square feet of office space, new parking, over 12 acres of public space, and the Cleveland Clinic Global Peak Performance Center.
North Coast Connector and Master Plan
Downtown Cleveland advocated for the State of Ohio’s $20 million commitment to construct the North Coast Connector, which would connect Mall C to the vacant property north of Huntington Bank Field. The Master Plan envisons a developed lakefront with a fishing pier, athletic courts, hotels, and new retail.
Hospitality + Programming
Downtown Cleveland has welcomed over 57.3 million visits this year, representing an 88.4% visitor recovery. Visitation levels have been boosted by several major events; the NCAA Women’s Final Four, total solar eclipse, Pride in the CLE, MetroHealth Juneteenth Freedom Fest, and major conferences like ASAE all resulted in spikes in foot traffic.
Downtown’s capacity for events is growing. The Huntington Convention Center completed a $49 million renovation this summer, expanding downtown’s capacity to host conferences and conventions. Two major historic hotel renovation projects are adding beds and delivering quality experiences in the core: Hotel Cleveland, the former historic Renaissance Hotel, completed a $62 million renovation this year. Fidelity Hotel made progress on its $57 million renovation, which is set to open in January. Combined, this accounts for nearly $170 million in new investment in downtown’s hospitality market.
While downtown enjoys the benefits of hosting significant events, we also know that it is critical to create an urban environment that feels vibrant every day. This is required if we are going to grow our residential population, sustain retail, and attract investment. As such, Downtown Cleveland will produce 340 activations across six public spaces this year, including live music, food trucks, fitness classes, art classes, walking tours, and more.
Hotel Occupancy
Events + Activations
41 Fun/Games Activations
29 Winter Events
12 Community Cleanup Events
17 Other Activations
105 Food Truck Days
3 Holiday Events
84 Sports/Rec
Activations
49 Music Pop-Ups
Clean+Safe
Despite decreases in violent crime across the city, both the perception and reality of public safety is an ongoing issue. We deploy Neighborhood Safety Specialists every day to provide an unarmed, uniformed presence to deter criminal activity and de-escalate conflict.
We’re creatively tackling safety issues in the core.
Court Watch: Through Court Watch, our team advocates on behalf of the downtown community in response to criminal activity. We monitor individuals’ court dockets and attend pertinent hearings to help end the cycle of chronic offenders and advocate for rehabilitation.
Smart Cameras: In October, we forged a new partnership with Robotic Assisted Devices (RAD) to install a smart security camera on Public Square. The camera feed is monitored by our operations center from 7am to midnight daily and feeds the City of Cleveland’s real time crime center.
Perk Station: We launched a new co-deployment center at Perk Park to add a high-visibility, community-facing presence. Perk Station opened in the spring.
Innovations like these, coupled with Mayor Bibb’s successful RISE initiative aimed at hiring more law enforcement officers, create a multifaceted approach to public safety.
Public safety is about more than just policing and security – it is about creating an environment that feels vibrant and welcoming. In addition to increasing the sense of safety, our Ambassadors work year-round to keep downtown clean and welcoming. Our work to build more attractive streetscapes and public spaces, remove graffiti and litter, report infrastructure deficiencies throughout the district, and regularly program our parks all contribute to a safer downtown environment.
Measures of Success
Clean + Safe Outreach Specialist, Amanda
Compassionate Care
Downtown Cleveland conducts outreach to those experiencing homelessness. Our full-time outreach specialist performs a variety of services for our vulnerable neighbors, including conducting wellness checks, connecting them with resources, and obtaining government-issued documents. We also work with social service agencies to connect individuals to housing and medical care. Outreach workers are trained in engagement, conflict de-escalation, and naloxone (Narcan) administration.
Downtown Cleveland serves as the fiscal agent for a $2 million initiative to rehouse individuals experiencing homelessness through Mayor Bibb’s “A Home for Every Neighbor” initiative. The initiative is on pace to house 150 unsheltered residents by the end of the year, many of them previously sleeping in tents or the public right-of-way within the downtown improvement districts.
In collaboration with Lutheran Metropolitan Ministries, Downtown Cleveland’s SEEDS program employs those relying on shelters with work enhancing the urban landscape Downtown. Participants learn professional landscaping skills that aid them in securing long-term employment and permanent housing. The goal is to transition them from the social services system altogether, all while beautifying Downtown Cleveland.
Downtown Cleveland supports policies that improve the quality of life for all our neighbors. Advocacy successes this year include:
The passage of the Cuyahoga County Health & Human Services levy. Our advocacy effort focused on improving shelter conditions and services for the unhoused. Cuyahoga County has improved conditions at the Men’s Shelter and is in the process of improving conditions at the Women’s Shelter.
“A Home for Every Neighbor” program. Downtown has long advocated for strategies to address unsheltered homelessness in the core. In response, the Bibb Administration adopted the highly successful “housing first” best practice. This program is on pace to place 150 unsheltered residents in supportive housing by the end of the year.
Effective Rehabilitation: Repeat offenders harm businesses, individuals, and the downtown neighborhood. Incarceration is not always the best path for people within the justice system. Through our Court Watch program, we advocate for addressing repeat offenders seriously and diverting appropriate cases to the mental health docket.
Looking Ahead:
Champions for Downtown’s Future
To fulfill the Greater Downtown Vision, we need Downtown Champions. Next year, we are launching a new Downtown Champions business center that will:
Engage downtown business leaders, residents, and civic partners in advancing the Greater Downtown Vision.
Ensure we have the financial resources necessary to make placemaking improvements and promote downtown to investors.
Advocate for public policies that reduce barriers to doing business downtown and promote dense, walkable development.
Transforming downtown requires a champions mindset. This means sustained commitment and investment. It requires significant coordination, collaboration and partnership.
Together, we can do more than just improve what exists – we can reimagine what downtown Cleveland can become. A vibrant core that drives regional prosperity. A welcoming destination that attracts talent and investment. A place that makes every Clevelander proud.
Be a
Downtown
Champion.
Will you join us? Become a Champion for this city—invest, advocate, and help us grow.