How Does Birmingham, Alabama Compare to Other U.S. Metros? [Economic Report] 

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REV Birmingham's recent report reveals that Downtown Birmingham has outperformed national trends post-pandemic.
The report, focusing on economic vitality, highlights key findings:
• Daily foot traffic downtown is at 95.8% of pre-pandemic levels, surpassing the national median of 81%. Notably, the southern part of downtown shows stronger recovery compared to the northern area.
• Residential growth has been robust, with 1,138 units added in 2023, and 474 more under construction along with 275 proposed units.
• Presently, there are 7,760 multifamily housing units downtown, expected to increase to 8,509 as developments come online.
• Office occupancy averages at 77.6%, hindered by four buildings with less than 42% occupancy.
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David Fleming, President and CEO of REV Birmingham, emphasizes the importance of mixed-use development for downtown's future.
Additional statistics from the report include:
• 66K+ daily employee visits downtown
• 11K+ downtown residents
• 431 active retail locations
• 16 developments currently under construction
The study was made possible with sponsorship from Verizon and contributions from various groups including Retail Strategies, Dobbins Group, Shannon Waltchack, Graham & Co, J.H. Berry & Gilbert, Inc., Harbert Realty, EGS/Cushman Wakefield, Colliers International, and CBRE.
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