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I feel like some cities have been poised over the years for a population, economic and building development "boom," but for many reasons, it has not happened--or just has not happened yet, due to timing and all the right "ingredients" coming together for it.
Criteria for a "boom" that I'm referring to would be--
*Population growth in city and metro area at a fast clip, at a minimum of 2-3% per year+
*Companies relocating to the city and metro region fairly consistently
*Job growth in white collar sector, and blue collar sector (if decently paying)
*In-city infill growth of mid-rise and skyscraper residential, hotel and office at a consistent clip, year over year
Cities I'm thinking of that seem like they could boom eventually, or their time was there and the boom just didn't happen--
*Richmond, VA
*Birmingham, AL
*Louisville, KY
*Indianapolis, IN
*Oklahoma City, OK
Do you think any of the cities above will wind up with fast-growth on a "boom level" in the next few years?
Population boom invariably is noticed first. So I’d expect economic and building development in mid-sized metros already pulling in people. Greenville (SC), Charleston (SC), Boise, OKC.
But I’ll add Cincinnati given its mild weather and proximity to some decent natural areas
Funny thing is, Columbus — formerly the smallest of Ohio's 3 C's — did have a boom. That's why it's passed Cincy population-wise and is on a plane with the other major cities along I-70 in the Midwest (Indianapolis, St. Louis, Kansas City).
Two of my top three are in Ohio - Cinci (and the entire NE Ohio region), and Cleveland. They have an attractive setting and good urban bones, plus in a practical sense they are well-connected to other parts of the country.
I think Milwaukee is due for a boom as well. In some ways it’s Chicago lite and has decent access to Chicago, but also the Dells as well as great smaller cities which I think are great for getaways.
El Paso. Granted I’m biased as I like both desert locales and Hispanic culture, but El Paso is a pretty, easygoing place and bucks the stereotype of border cities being run-down hellholes. Lack of access to a lot of other places will hold it back, though.
Baltimore. It’s got a lot of problems to fix, but given its location in the megalopolis and proximity to DC, I’m a bit shocked it hasn’t seen more gentrification as a secondary hub for federal contractors looking for a cheaper space when being directly in DC isn’t a priority.
Florida’s Emerald coast. It got blasted by hurricanes, but wow is it a beautiful coast. I’m surprised given the military connections that it hasn’t boomed a bit more with that stable base plus the general popularity of Florida as a retirement destination.
I feel like some cities have been poised over the years for a population, economic and building development "boom," but for many reasons, it has not happened--or just has not happened yet, due to timing and all the right "ingredients" coming together for it.
Criteria for a "boom" that I'm referring to would be--
*Population growth in city and metro area at a fast clip, at a minimum of 2-3% per year+
*Companies relocating to the city and metro region fairly consistently
*Job growth in white collar sector, and blue collar sector (if decently paying)
*In-city infill growth of mid-rise and skyscraper residential, hotel and office at a consistent clip, year over year
Cities I'm thinking of that seem like they could boom eventually, or their time was there and the boom just didn't happen--
*Richmond, VA
*Birmingham, AL
*Louisville, KY
*Indianapolis, IN
*Oklahoma City, OK
Do you think any of the cities above will wind up with fast-growth on a "boom level" in the next few years?
And what other cities come to mind?
I think Richmond has great potential given it's connectivity to the northeast as a whole.
One local city that comes to mind for me is Clearwater, FL. It's got great potential, but hasn't taken off like other areas of Florida have. A lot of people blame the scientologists, but I'm not sure if that's the core issue.
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