Downtown Cleveland Alliance Update With CEO Michael Deemer - 12-10-21


Michael Deemer, President & CEO from The Downtown Cleveland Alliance spoke to Bill about This past week, DCA released its third quarter market update, highlighting the progress across Downtown’s market sectors - Heading into the winter and holiday season, what can folks expect as they make their way to Downtown Cleveland

Downtown’s resurgence remained steady in the third quarter and heading into the fourth quarter of 2021. 

  • 6 new storefront businesses Downtown in Q3 with lots more to come
  • At nearly 90%, residential occupancy in Downtown Cleveland is the highest it has been since before the pandemic in 2019
    • uptick in leasing activity since the lowest point in 2020, as well as strong absorption of the over 2,000 apartments added in the last two years
  • The office market-overall occupancy remained above 84%
  • Major office commitments like those of United Church of Christ, Cross Country Mortgage, and Sherwin-Williams show confidence in the market, and the future of the Downtown office market will rely on businesses to continue this trend in choosing in-person work over remote, even with added flexibility

Heading into the winter and holiday season, what can folks expect as they make their way to Downtown Cleveland?

  • Encourage everyone to shop local- patronize a downtown small business- visit favorites at 5th street, check out the new local retailers.
  • Ice Skating in Public Square
  • See the lights, go to a game- Browns and Cavs
  • See a show at Playhouse Square
    • Light It Up - family friendly holiday show just premiered this weekend and runs through the 21st
    • Wicked - premieres this week on December 8; tickets available 
  • Make a day or night of it- visit a Downtown restaurant
  • A lot to do the entire winter season leading up to and through the NBA All Star Game in February. 
    • Building a 4- season city with events and activation for all to enjoy. Continuing to give people reasons to return Downtown.
  • Get your booster shot and come Downtown for the holidays.

For more information or if you're interested in relocating or expanding into Downtown Cleveland, visit DowntownCleveland.com, or WinterfestCLE.com for winter season events taking place in Downtown Cleveland.


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