Activity in downtown Cincinnati bouncing back from pandemic

Parking trends and higher sales at many Downtown bars and restaurants indicate foot traffic in Cincinnati's central business district is gaining momentum as the city continues its recovery from the COVID-19 pandemic.

That's according to Cincinnati Center City Development Corp ., or 3CDC, which compared parking and retail sales receipts from December 2019 − three months before the pandemic began − to the same figures for December 2023.

3CDC says more people parking Downtown

The figures show Downtown parking garages and lots controlled by 3CDC at the end of last year generated revenues per space slightly ahead of where they were in December 2019.

Revenues from nine 3CDC parking facilities rose to $287 per space in December 2023, up about 3% from $278 per space in December 2019, according to 3CDC.

Adjusting for inflation, that $287 would be equivalent to $332 in December 2023 dollars, according to the Consumer Price Index.

Meanwhile, the number of cars parking Downtown in 3CDC facilities grew by 58% to 4,371 in nine facilities in December 2023, up from 2,760 in four facilities in December 2019.

The fact that revenues increased and were not diluted by the increase in the number of spaces indicates "there are more parkers in (Downtown) garages than there were pre-pandemic,'' said Joe Rudemiller, a 3CDC spokesman.

"We look at the numbers, and we feel like it tells a pretty compelling story,'' Rudemiller added.

Rudemiller attributed the increase in downtown activity to a combination of more workers returning to their offices post-pandemic and the city's entertainment and dining options encouraging people to spend more time Downtown.

For one restaurant group, 2023 was a 'great year'

The numbers also showed sales were up at Downtown eating and drinking establishments that lease space from 3CDC.

Downtown food and beverage revenues totaled $795 per square foot in 20 3CDC spaces in December 2023, up 31% from revenues of $605 per square foot in 10 spaces in 2019, according to 3CDC.

Although still experiencing highs and lows in terms of foot traffic, most of the restaurants under the Crown Restaurant Group umbrella are performing more strongly than they did at the height of the pandemic, according to owner Anthony Sitek.

Crown operates some of Downtown's most popular eateries, including Crown Cantina and Rosie’s Italian.

"Last year, 2023, was a great year sales-wise, and it's trending towards that this year,'' Sitek said.

Office vacancies still near historic highs

While sales at many eating and drinking establishments are up, Downtown office vacancy rates remain near historic highs, indicating many of the more than 80,000 employees who worked downtown before the pandemic are still missing from the scene.

Downtown had an office vacancy rate of about 23.5% in in the first quarter of 2024 − just under the historic high of 25.7% set in the second quarter of 2023, according to figures published by Cushman & Wakefield.

Those figures compare to a pre-pandemic Downtown office vacancy rate of 13.6% in the fourth quarter of 2019, according to the firm .

Cell phone data shows more people coming downtown after hours

Research from the University of Toronto's School of Cities indicates the rebound in downtown activity may be tied more to the bars, restaurants and other attractions Downtown rather than office workers returning to the business district.

Using cell phone data to track visits to Downtown points of interest, researchers found Cincinnati saw a 28% uptick in visits to the district in February 2024, compared to a year earlier.

That ranked the Queen City's business district No. 7 out of 66 North American cities for the fastest-recovering downtowns over the same period.

The cell phone data showed most of the recovery in foot traffic Downtown was driven by visits after typical daytime working hours from 9 a.m. to 5 p.m.

"We found that the working-hours recovery rate was quite a bit lower than the after-hours recovery rate,'' Karen Chapple, director of the School of Cities, told The Enquirer. "What is driving downtown Cincinnati's comeback is people living there, and people going there to eat and drink and for cultural events.''

This article originally appeared on Cincinnati Enquirer: Activity in downtown Cincinnati bouncing back from pandemic