Tampa Downtown Partnership Unveils Biennial Survey Results
Results show mounting interest in urban lifestyle, transportation, retail options, and job opportunities
View the full presentation given by HCP Associates.
TAMPA (March 24, 2017) – Tampa Downtown Partnership unveiled the results of the Fifth Biennial Survey of Downtown Workers and Residents. during Tampa Downtown Partnership’s 21st Annual Downtown Development Forum at the Tampa Convention Center on Friday, March 24, 2017.
Collaborating with the Tampa Downtown Partnership, HCP developed a baseline study in 2008 of resident stakeholders as well as the 60,000 workers within Downtown Tampa. This study has been repeated in two year intervals, since the baseline. The results of the 2016 survey reflect the perceptions and expectations of more than 1,050 Downtown workers and residents. Tampa Downtown Partnership and HCP also launched the Second Biennial Survey for Downtown university students yielding more than 240 responses from a group of 12,000 students.
Key findings of the surveys include mounting interest in living Downtown, growth in the number of Downtown pet owners and families, overwhelming interest in exploring new modes of transportation, and staggering statistics showing the potential of retail and talent retention in the Downtown core.
Vibrant Activity Draws Workers and Residents to Downtown
- The number of Downtown Tampa residents doubled from 2008-2016.
- The urban lifestyle, arts/entertainment, events, restaurants and the proximity to work were the top 5 reasons people moved to downtown with Urban Lifestyle being number one.
- Nine in 10 residents and eight in 10 workers engage with Downtown Tampa social events, The Riverwalk and public parks.
- 87.4% of residents and 72% of workers are likely to recommend downtown as a place to live and two in five workers expressed interest in moving Downtown in the next five years.
Downtown is Pet and Family-Friendly
- Two in five residents believe Downtown caters to families with young children.
- Nine out of 10 residents believe Downtown caters to pet owners.
- 56% of residents own a pet with four in 10 claiming dog ownership.
- The increased sense of safety is on the rise with 96.4% of residents considering their sense of safety to be meeting or exceeding expectations.
Transportation Gains and Woes
- Worker commutes of 30 minutes or more are on the rise.
- 91% of workers drive alone on a typical work day.
- 25% of workers have used the Downtowner proving they are early adapters of new transportation modes if they are convenient.
Opportunities for Growth in Retail
- One in two residents consider downtown insufficient for home furnishings, shoes, formal clothing, casual clothing, and gifts.
- For the first time, Hyde Park Village overtook International Plaza as the most frequented monthly shopping attraction for Downtown residents proving they prefer shopping closer to home.
- Residents are spending a larger share of their restaurant and entertainment dollars within downtown, but make a majority share of grocery, gas, retail, and personal care purchases outside.
Talent Retention Concerns and Potential Employment
- Three in five students believe Tampa caters well to students.
- One in five students has participated in an internship with a company downtown and half of those students secured an internship in the downtown core.
- 41.8% of students hoped to secure an internship downtown, but were unable.
1 in 4 students are likely to remain living in downtown Tampa following graduation.
In 2017, we are seeing another boom take place in residential development with a reported total of 8,300 units recently delivered, under construction or planned for our Downtown. Amenities such as the Riverwalk, Curtis Hixon Park, and many cultural organizations provide a diverse line up of events and programs putting the desire to live Downtown Tampa at an all-time high.
Brokers, investors and public officials alike can benefit from understanding and interpreting the results of the Fifth Biennial Survey when looking to the future of Tampa’s Downtown. Not only does the survey provide insight for what workers, residents, and students want for their Downtown, but it provides undeniable statistics on their behavior. This type of knowledge is invaluable when determining the potential profitability and success of investment decisions.