2025 Midyear Market Brief

Downtown Cleveland

2025 at a Glance

1.1K Daily Ambassador Interactions

77% of Businesses are In Office 3+ Days/Week† 

21,000+ Downtown Residents

$4.8B Development Underway + Planned*

28 Smart Cameras Installed YTD

14 New Storefront Openings YTD

*Including Riverfront Development and Lakefront Master Plan

†Findings from the Downtown Cleveland + GCP return to office survey

Development

$856 Million in Projects Completed YTD 2025:

  • Fidelity Hotel

  • The Bulkley Residences

  • Globe Iron Project

  • Sherwin-Williams HQ

  • Skyline 776

Additional $380 Million to be Completed by End of Year:

  • Cleveland Police HQ

  • 700 Prospect Ave.

  • Rock Hall Expansion

Cleveland Clinic Global Peak Performance Center, expected to open in 2027

Retail

14 New Storefront Openings YTD

82% Storefront Occupancy in Key Retail Corridors*

*Warehouse, Flats, Gateway, and Playhouse Square DIstricts

Hospitality

71% Peak Hotel Occupancy (June)

Strong occupancy rates supported by events and conferences including the Cleveland Marathon, the NACM (National Association of Credit Management) convention, AP Reading Event, and the AC/DC concert 

Transit

12 Million RTA Passengers YTD*

2.4 Million Airport Passengers YTD

Office

80% Overall Office Occupancy†

6.2 Million Employee Visitsˆ

Only 9% of businesses are fully remote**

Housing

85% Apartment Occupancy

2 New Buildings Opened in 2025:

  • Ten60 Bolivar

  • Bulkley Residences 

268 Units Added YTD

*Stable year-over-year †CBRE report findings ˆIncreased year-over-year **Findings from the Downtown Cleveland + GCP return to office survey.

Clean + Safe

*Equal to filling Progressive Field ‘s playing surface 10 times!

  • Downtown Smart Cameras

    We facilitated the installation of 28 new smart cameras across downtown, including high traffic areas throughout the district.  

  • Ambassador Lighting Audit

    Our Ambassadors have conducted monthly street lighting audits and reported outages to Cleveland Public Power. We audited 1,300 lights and reported 353 outages. 54% of those outages have been repaired YTD. 

  • Expanding Downtown's Tree Canopy

    Downtown Cleveland has secured nearly $100K to expand downtown’s tree canopy. Our 2025 Earth Day Campaign surpassed our fundraising goal of $5,000, which will go toward planting and maintaining trees and greenery downtown. This year, we will plant 36 mature trees to help reforest the city’s core.

  • Community Survey

    We conducted a community survey to assess what Clevelanders wanted in their downtown. The findings showed outdoor seating, lighting, recreational features, and green spaces were the most desired amenities among residents. These features are all part of Meet Me Here Park, an art-filled play space that Downtown Cleveland is building in partnership with LAND Studio in the Gateway District. 

  • Court Watch

    Our Court Watch program has expanded to include monitoring businesses that have a pattern of negative impacts on the neighborhood in addition to chronic offenders. Our goal is that all businesses adhere to the same operating standard that promotes safety and vibrancy in the neighborhood.

  • Why Downtown Guide

    Our Economic Development team developed a comprehensive “Why Downtown” guide that communicates the value of locating a storefront or office business in downtown. The guide, which supplements our business attraction work, includes development underway, incentives, and critical market data.

  • Hospitality and Hotel Deployment

    We launched a specialized Hospitality and Hotel Deployment in response to incidents at downtown venues. Throughout the year, we have conducted over 8,000 check-ins and have built strong relationships with local hotels. 

  • Activating Downtown

    We are on track to host over 400 public activations across 8 parks and plazas in 2025.