Reimagining Cities-Disrupting the Urban Doom Loop

In six cities, the share of GDP created by WalkUPs declined, with Atlanta the most impacted as its Downtown had still not recorded a full GDP recovery as of 2023 year-end. (It is the only Downtown that had negative GDP growth over this timeframe.) It is not that the cities in these markets did not grow—it is that the non-city metro economy grew faster . A good example of this is Dallas—the city grew by 14.7% over this timeframe, but the non-city grew by 21.2%. Thus, the city’s share of metro GDP fell from 33.4% in 2019 to 32.2% in 2023.

GDP MARKET SHARE SHIFTS Change in WalkUP vs Non-WalkUP share of metro GDP (2019 vs 2023)

WalkUPs Gain Most Market Share

WalkUps Lose Most Market Share

-2.5% -2.0% -1.5% -1.0% -0.5% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5%

Miami

Dallas

Austin

Seattle

Boston

Denver

Atlanta

Raleigh

Phoenix

Chicago

New York

Philadelphia

Los Angeles

San Francisco

Washington DC

WalkUP Total

Rest of City

Metro ex City

Source: Places Platform, LLC; Cushman & Wakefield Research

Reimagining Cities: Disrupting the Urban Doom Loop 45