Q1 2026 Broker Report
Downtown Cleveland: Q1 in Motion
Pop-Up Snow Days
Follow Downtown Cleveland on Instagram or Facebook about Pop-Up Snow Days, where you can sled, tube, roast marshmallows, build a snowman, and more on Mall B with enough snow (and we’ve been getting our fair share).
Curling on the Square
In collaboration with Mayfield Curling Club, we’ve hosted Curling on the Square. Over the two events, 200+ attendees learned how to curl.
St. Patrick’s Day
Cleveland’s annual St. Patrick’s Day parade kicks off at 1PM on Tuesday, March 17. Check out event page on our website for the updated parade route. This event brings over 100K visitors downtown!
NCAA Men’s Wrestling Championships
Cleveland will host the 2026 NCAA Division of Men’s Wrestling Championships at Rocket Arena from Thursday, March 19 through Saturday, March 21. According to the Cleveland Sports Commission, the event is estimated to provide $19M in economic impact to Northeast Ohio with a projected 110,000 visitors over the 3-day event.
Under Construction Beginning in Q1
Project Scarlet
“Project Scarlet” is fully underway to transform the Rose Building (at East 9th and Prospect Avenues) and Sloan Building (Prospect Avenue) into a mixed-use complex that joins multifamily and hospitality under one roof. This $120M+ project will also include a Marriott-branded Tribute Hotel (the first in Cleveland), a premium hotel brand to the building. Also included will be Tribute-branded luxury apartments. The building is expected to open in 2027.
Trends + Opportunities
Foot Traffic - 151.4K Avg. Daily Visits
We know that one of the common questions you get from prospects is “what’s the foot traffic like downtown?” We also know that retail density drives foot traffic, and vice versa. We’re committed to regularly activating our public spaces downtown, attracting visitors all year round, with the goal of giving storefront businesses the confidence to open downtown.
Our high-frequency public space programming, combined with increased marketing, led to attendance growth at our downtown events in 2025. We are building on this momentum in 2026.
Retail Occupancy
Retail occupancy sits at 82%. Tied to foot traffic, safety, and everyday activity, retail is holding up despite rising operating costs and shifting consumer behavior.
Downtown Cleveland’s Economic Development and Planning team provides concierge-level services to existing and prospective storefront tenants. From permitting assistance, to zoning appeals and beyond, we’ll help businesses navigate the process.
Serious Crime - Down 26% YOY
That’s it. That’s the message. From violent crimes to theft, public safety has improved significantly in the core. These improvements reflect strong cross-sector collaboration.
Office Occupancy
Office occupancy sits at 80%. The downtown office market is in a reset, creating real opportunity for reinvestment and repositioning. You know the data; we can tell the story.
Businesses, brokers, and site selectors should engage the Downtown Business Growth Network to take advantage of resources to better attract businesses to the downtown office market. Email Silvia Iorio for more information.
Business Openings
We welcomed 22 new businesses downtown in 2025. Two businesses opened in Q1 of 2026 Our team connects businesses with the right resources for their success and helps to streamline approvals, so they can focus on opening and growing their business.
Downtown Cleveland Attractions
Business Incentives and Resources
The City of Cleveland offers a variety of loans and grants to help new and expanding businesses locate throughout the city, including downtown. Downtown Cleveland’s Economic Development team offers concierge services for businesses interested in city programs.
Introducing: Quarterly Broker Reports
Brokers, these reports are dedicated to you. We aren’t here to tell you what you already know; we’re here to support you in doing what you do best. You know the market: we tell the story. We want to elevate your expertise. What do you want to see in these reports? Email VP of Economic Development, Silvia Iorio with your ideas!
How Downtown Cleveland Can Help You
Through the Greater Downtown Vision and our Business Growth Network, downtown partners are investing in safety, public space activation, connectivity, and business attraction to actively strengthen the conditions that drive demand for employers, tenants, and investors.
To support brokers, site selectors, and companies evaluating downtown, we’ve also expanded practical market tools at DowntownCleveland.com, including:
Why Downtown — a concise set of proof points on jobs, talent, density, access, and quality of place to support client pitches and internal decision briefs.
Broker Resources — centralized market information and direct contacts to accelerate leasing, site selection, and repositioning conversations
Business and Developer Resources — a clear pathway for relocations, expansions, and development inquiries, including workforce access and incentive coordination.
These resources are designed to make it easier to position downtown with clients and decision-makers.
For brokers and companies evaluating downtown, this means:
A stronger, safer, and more active downtown environment
Practical tools to support business attraction, leasing, and site selection
Clear connection between placemaking investments and job growth
A market positioned for repositioning, value-add, and long-term urban growth
But the work is never finished, and we rely on great partners like you to tell us how we can continue to support you. We encourage you to look through these resources and to reach out to us. This report is yours.
Your Downtown Cleveland Economic Development + Planning Team
Silvia Iorio
VP of Economic Development
Drew Crawford
Senior Director of Planning
Ian Meadows
Project and Social Media Manager
Sam Rocco
Senior Director for Policy and Research