Destination: 45202
Jonathan DeHart |
Thursday, June 02, 2011
The year 2008 marked the first time in human history when more than half of the world's population resided in an urban area.
While this movement marked a radical shift for some of the world's still developing societies, where swelling rural populations flooded the planet's most crowded cities, closer to home tech savvy, career-minded urbanites, mainly between 25 and 34 years old, have led the charge.
Urban migration has coincided with sweeping changes and involvement in Cincinnati's downtown, an area defined broadly as the area within three miles of the central business district (CBD).
"Downtown is in a renaissance," says Stephen Samuels, Founder of Bridging Broadway and Vice-President, Client Experience at
Blackbook Experience Management Group, a firm that helps YP transplants get settled and plugged in to downtown Cincinnati. "As far as the Midwest is concerned, Cincinnati is ahead of the pack. We are charging ahead at an accelerated pace."
This enthusiasm is reflected by the data. According to the "Young and Restless" 2011 study, published by urban leadership think tank
CEOs for Cities, in 45 of the 51 urban areas examined - all with metro populations over one million - the likelihood that young adults with high educational attainment would choose to live near the urban core of their city increased from 61 percent in 2000 to 94 percent today. When put in context, these numbers are a long time in the making. "The trend toward urbanism is now four decades long," says Julia Klaiber, Director of External Affairs, CEOs for Cities.
Cincinnati is no exception to this trend. At present, fresh college graduates are 28 percent more likely to plant roots within three miles of Cincinnati's CBD than in other corners of the metro area. By comparison, the same demographic was only ten percent more apt to live in downtown Cincinnati than elsewhere ten years ago. This increase in downtown's YP population has coincided with a development spree across the city, creative programming in public and private spaces, and a renewed sense of civic pride.
"There's something happening here every day," adds Dave Ostreicher, a YP Cincinnati transplant originally from Detroit. "When I first moved to town, I would describe Cincinnati as a place where there was always one thing happening on any given night."
Flocking to areas close to downtown like Over-the-Rhine, Hyde Park, Pleasant Ridge, Oakley, Mt. Lookout, Clifton, Northside, and in northern Kentucky (Newport and Covington), these young professionals "are a highly prized demographic because they tend to be passionate about their city," says David Ginsburg, CEO of
Downtown Cincinnati, Inc. "The news that downtowns, and downtown Cincinnati in particular, are increasingly the choice residential locations for them is good news indeed."
This news bodes particularly well for real estate and the city's entrepreneurial flair, where trendy condor for sale like
Trinity Flats in the Gateway Quarter just outside of downtown are being snatched up as soon as they become available and venture capital is flowing more freely than ever before, which also helps with job creation.
From architects and designers to advertising superstars and branding visionaries, Cincinnati's YP contingent is a creative powerhouse, bolstered by a bevy of professionals in law, finance and beyond. In order to retain this educated base of talent a city needs options."It follows that our downtown development priorities ought to reflect what they say they want: compact, mixed-use, walkable urbanism with vibrancy, arts and culture and local businesses," Klaiber adds.
Movers and shakers in Cincinnati clearly share this sentiment. A quick survey of the projects that are reshaping this terrain in recent years highlights the relationship between this influx of young professionals and the rebirth of downtown.
"Downtown has recently seen a revitalization, from the renovation of historic
Fountain Square to the
Banks Riverfront Development project to Over-the-Rhine," says Jennifer Young, who works in Marketing Communications for the
Cincinnati USA Regional Chamber, the nation's fifth largest. Samuels adds, "I think these developments are being built with the creative, young professional class in mind. Many don't just choose to live here. They choose to participate in the public forum and get involved."
With initiatives like
Agenda 360,
Vision 2015, C-Change and
Go Vibrant, the relationship between development and the YP rush goes both ways. These initiatives give urban professionals the chance to participate at a level that is out of reach in many places.
"Cincinnati is a city that is full of opportunities that are easily accessible," Ostreicher says. "In other large markets, an individual might need to be a huge donor, or be connected to a key public figure to get on the Board of some of the area's most prestigious organizations. Here, these opportunities are just one introduction - or a simple raising of your hand - away."
A prime example of the city's commitment to attracting and retaining YP talent is HYPE (Harnessing Young Professional Energy), a program run by the Cincinnati USA Regional Chamber. Young, who is on the team behind this dynamic YP forum, sees the snowball effect that the combination of downtown investment and the YP migration into the city's core.
"Cincinnati will only continue to get stronger and attract more and more of the best talent," Young says. "It is contagious. People want to be a part of change. People want to do something that matters. I see it every day in the people I get to interact with and work alongside--we are creating, attracting and nurturing not only the leaders of tomorrow, but the leaders of now."
This story originally appeared in hiVelocity's sister publication, Soapbox.