Midwest secondary markets experience upswing
Midwest secondary markets are experiencing a swell of mixed-use urban development projects, according to a report from CBRE Group. The report attributes this development growth to the correlating population growth as residents move out of the suburbs and into downtown areas.
The data suggests it is not only millennials who are moving to urban centers, but recent empty nesters as well. This migration — combined with the generally lower cost of living, involved public leadership, various incentive programs, and a vibrant and innovative urban core — has made these Midwest secondary markets appealing to employers.
Eleven cities were included in the study: Cleveland; Cincinnati; Columbus, Ohio; Detroit; Indianapolis; Kansas City, Mo.; Louisville, Ky.; Milwaukee; Minneapolis; Pittsburgh; and St. Louis. In eight of the cities, the percentage of the population with an education level of a bachelor’s degree or higher is greater than the national average. Combined, the 11