The shift from office districts to city neighborhoods in America’s cities

It’s no secret that office buildings are sitting vacant. However, this does not mean that America’s big cities are empty. In fact, foot traffic and rent data show strong performance for neighborhoods throughout New York, Chicago, and LA. The activity is not happening in office districts, but rather neighborhoods that have apartments, bars, and restaurants.
Some people predicted a downward spiral for big cities as remote workers shifted to cheaper and more spacious places to live. While that did happen to come degree, population loss in cities has slowed or reversed. Many remote workers continue to live in cities and frequent the bars, cafes, shops, and restaurants in their own neighborhoods which is driving business. For example, foot traffic in downtown Chicago is down, but foot traffic is up in neighborhoods like Logan Square. Grubhub data shows less corporate lunches are being sold in the traditional business districts.
Falling commercial building values present a looming issue with city budgets and tax revenue.
The housing shortage continues to keep rents elevated.
This is a reminder to support your local businesses.
Works Cited:
https://www.wsj.com/articles/american-cities-are-starting-to-thrive-again-just-not-near-office-buildings-d839798f?mod=hp_lead_pos10
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