Affordable Downtown Living - Part 1 of 3

Today, people are starting to look at downtown living in a new and affordable way. Among other benefits, including the convenience of being close to work and entertainment, and the health aspects of a walkable neighborhood, residents are embracing the ways that city life can help save money and build futures.

This three-part blog series will examine the economical aspects of urban living.

The following article from the Fresh Greens blog by US News and World report writer Maura Judkis, explores affordability of downtown living with housing and transportation costs set against percentage of household income. Check out the full article and access the affordability index tool by clicking on the links below.

City Mouse, Country Mouse: Who Spends More?

By Maura Judkis, Aug. 20, 2008

For decades, people have chosen life in the 'burbs because of the lower cost of housing, the extra space, and the family-friendly atmosphere. Gas prices, however, could change everything about suburban life—and a great tool that analyzes the true cost of suburban living can show us how...

...The Center for Neighborhood Technology, Brookings Institution, and Center for Transit-Oriented Development have come up with an affordability index that maps the true cost of suburban life vs. urban life by combining census data about income, housing, and transportation. The index found that city living, which many people consider to be too expensive, can actually be more economical than life in the suburbs.

Said Maria Stamas of the Rocky Mountain Institute: "Among the findings, people who live close to transit, jobs, schools, and retail—typically in cities and inner-ring suburbs—spend up to $2,100 less per annum on gasoline than residents of outer-ring suburbs."...

CLICK HERE FOR FULL ARTICLE

CLICK HERE TO ACCESS HOUSING + TRANSPORTATION AFFORDABILITY INDEX

Revitalizing Cleveland’s Urban Core

Revitalizing an urban core, and restoring prosperity to a once vibrant community, takes a colossal effort, but it’s happening in Cleveland!

A rising tide lifts all boats, and billions of dollars are being invested into exciting new developments to bring positive change to the region: East 4th Street, Uptown at University Circle, the Euclid Corridor, University Hospital, Cleveland Clinic and Cleveland State University expansions, MOCA, the Flats and Warehouse District projects, Stonebridge and The Avenue District.

According to the Brookings Institution, there are 12 steps to turning around a downtown, and Cleveland is already at Step 10, with the re-emergence of the for-sale housing market.

Urban pioneers, including empty-nesters and young professionals, are driving demand for walkable urbanism in downtown Cleveland. These buyers are seeking vibrant, 24-hour neighborhoods with convenient access to the waterfront, public transit, parks and recreation, universities, medical facilities, shopping, entertainment, arts and dining.

Homeowners create community and attract others to live where they work and play, right in downtown Cleveland. Homeowners build demand for services and amenities, which fuels business development and leads us through Step 11 (“develop a local-serving retail strategy) and Step 12 (“re-create a strong office market”) in Cleveland’s revitalization.

The Brookings Institution recently released Restoring Prosperity: The State Role in Revitalizing America’s Older Industrial Cities, and in the executive summary they captured the importance and value of a strong urban core:

“(These cities) were vibrant communities where new ideas and industries were conceived and cultivated, where world-class universities educated generations of leaders, where great architecture and parks became public goods, and where glistening downtowns grew up within blocks of walkable, tree-lined neighborhoods, where the middle-class swelled and thrived. They were, in short, physical testaments to the innovation and spirit that shaped the nation and its citizens. And so they can be again.”

- Nathan Zaremba