May 27, 2022
Retail Recovery
DowntownFTL is leading the way among peer cities in South Florida and across major cities in the sun belt based on its retail foot traffic recovery. This metric speaks to the continued growth of Las Olas Boulevard as a destination for downtown and countywide residents, employees, and visitors. DowntownFTL outpaces Downtown West Palm Beach by 12-points and Downtown Miami by 23-points according to Placer.ai.
Others factors driving DowntownFTL's leading performance in this indicator are the rising residential density downtown, quicker return to the office compared to most downtowns nationally, and growth in the number of downtown hotels.
Impact of Office
The area with heaviest concentration of Class A office buildings is seeing visitation +15% above pre-pandemic levels, driven by workers returning to the office and the opening of new multifamily buildings. During 2020, visits to this section of downtown were 50% below pre-pandemic levels. DowntownFTL's evolution as a vibrant, mixed-use destination led foot traffic in the central business district to quickly bounce back.
