Fastest Growing Neighborhood
Downtown Baltimore neighborhoods are adding new residents.|
Almost 43,000 people now live within one-mile of the Pratt & Light intersection, an area which has experienced more than 10% residential growth over the past ten years. And the fastest-growing Downtown neighborhoods, according to the US Census, are Charles Center, Preston Gardens, and the Bromo Tower Arts District - with a population that has grown more than 250% since the year 2000. In 2000, 1,700 residents lived in these neighborhoods; in 2010, the number increased to 4006, and, in 2018, we are confident that we have easily passed the 6,000 resident mark. These neighborhoods were, historically, Baltimore's business and financial district, but they are now home to young professionals, retirees, new families, and their pets. A majority of these residents are new to Baltimore and bring with them strong demand for the restaurants, theaters, and retail shops that have been opening up. And these neighborhoods have been recognized by the U.S. Census as being among the most diverse residential tracts in the entire City.
These facts aren't widely known and they deserve recognition. They attest to Baltimore's vibrancy and the demand for urban, transit-oriented living, and they reaffirm our strategy to re-purpose older office towers as residences. Most importantly, the trend doesn't show signs of slowing down. Our recent survey shows market-driven demand for up to 7,000 additional apartments in the foreseeable future. Read our Outlook 2022- market-rate housing demand study- for more information.
Now you know.