The ten largest US central business districts
Central business districts serve as a magnet for economic growth and employment. The following is an overview of the top 10 largest CBDs in the country.
Boston’s CBD is one of the most important business hubs in the East Coast. Business density is particularly high in the Financial District, which is home to large banking, finance, and insurance corporations like Bank of America,PricewaterhouseCoopers, and Fidelity Investments. Boston’s CBD is characterized by its large percentage of Class A commercial stock (nearly 70 per cent of the total according to 2015 data). Tech-related firms and businesses involved in healthcare, life sciences, and advanced manufacturing are key drivers of the Boston economy.
Philadelphia’s central business district covers an area of 2 square miles to the east of Delaware river and contains more than 42 million square feet of commercial real estate. Major industries include tourism, financial services, bio-science, and telecommunications. In recent years, rising rents and a shortage of Class A space have prompted a second business cluster in University City and Navy Yard, where several office developments and business centers have been recently built.
Washington’s central business district covers an area of approximately 1 square mile in northwest Washington. The CBD comprises over 144 million square feet of commercial real estate and 2 separate business improvement districts: the Golden Triangle BID (which is home to more than 1,600 businesses) and Downtown DC, known as a bustling retail and commercial hub. In addition to the public sector, key industries include media and communications, tourism, hospitality, finance, and publishing.