Neat stat: @DowntownRaleigh has lower % regional office vs competitor cities = Downtown upside, low congestion pic.twitter.com/Bb45ZhPBNV
— Joe Milazzo II (@RTATriangle) October 30, 2014
Here’s something that I just had to share. I found this graph very interesting. If you can’t see the embedded tweet click here.
It shows that 8.6% of office space in Raleigh is located downtown compared to other cities that we generally compete with. Raleigh’s downtown really is small for the city of our size and the reverse rush hour traffic pattern that we have is very unique.
On the flip-side, perhaps this lack of office space has allowed the residential and arts communities to grow in downtown. Something to think about.
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Based on the overall market size, I am guessing that the entire Triangle is included. If so, it’s an unfair comparison to use just DT Raleigh on that chart. As a multi-node metro, I’d at least expect it to be combined with DT Durham. That said, it’s probably still quite low compared to other cities. Also, does this report include the government office space in its report or just market office space? If it excludes government offices, then it’s really an unfair to compare the three state capitals to Charlotte and Orlando.
While I’d like to see (and expect to see) more DT office space in the future, I do like that DT is exploding with residents and creating walkable neighborhoods. I wouldn’t want to lose that dynamic.
Yes, I think it would relate to space and parking!