Challenge: Downtown Duluth stakeholders sought a comprehensive understanding of the real estate market in the city’s central business district.
Northspan’s Role: Gathered parcel data on every property in the Greater Downtown Council’s service area in 2016, calculated vacancy rates by property type, and has since updated the report in 2017 and 2019. The report assesses the vacancy rates of all properties in the GDC’s area and subdivides them by use to provide greater context for trends in the market. The 2019 update also included information on rents for major office properties in the downtown district.
Results: The GDC now receives regular data on downtown real estate and can accurately track trends, respond to challenges, and measure and celebrate revitalization in Duluth’s urban core.
Reference: Kristi Stokes, Greater Downtown Council President, kstokes@downtownduluth.com, 218.727.8549
Contact Karl Schuettler at kschuettler@northspan.org for more information.