2023 State of Downtown Madison

2023 STATE OF

DOWNTOWN MADISON

2023 State of Downtown Madison | 1

TABLE OF CONTENTS 3

Boundaries & Map

14-15

Employment

4-5

Development & Investment

16-17

Education

6-7

Residents

18-19

Retail & Restaurants

8-9

Housing

20-21

Tourism & Attractions

10-11

Quality of Life & Safety

22-23

Mobility

12-13

Office Market

ACKNOWLEDGEMENTS A special thank you to the following people and organizations for their contributions and assistance with the compilation of the 2023 State of the Downtown report: •

AlphaGraphics Madison (Elizabeth Bickers Gargano and Erik Kjelland)

•

Broadwing Advisors, LLC (Craig Stanley, Emily Mehl & Deana Porter)

•

CBRE (Gretchen Richards)

•

City of Madison Assessor’s Office (Michelle Drea, Megan Lukens & David Faust)

•

City of Madison Economic Development Division Office of Business Resources (Meghan Blake-Horst)

•

City of Madison Parking Utility (Stefanie Cox & Bill Putnam)

•

City of Madison Planning Division (Heather Stouder, Colin Punt & Kevin Firchow)

•

City of Madison Police Department (Julie Laundrie & Daniel Haueter)

•

City of Madison Treasurer’s Office (Craig Franklin)

•

Clean Lakes Alliance (Adam Sodersten)

•

Dane County Regional Airport (Kim Jones, Michael Riechers & Tomasz Pajor)

•

Destination Madison (Ellie Westman Chin, Maureen Martin & Ana Cordova)

•

Madison BCycle (Helen Bradley)

•

Madison Metropolitan School District (Eric Lequesne & Brianne Monahan)

•

Madison Public Schools Foundation (Melinda Heinritz & Mary Bartzen)

•

Madison Region Economic Partnership (Jessica Reilly & Jana Moore)

•

Madison’s Central Business Improvement District (Matt Tramel, Tim Jenquin & Michelle Morrison)

•

Metro Transit (Mick Rusch)

•

REALTORS® Association of South Central Wisconsin/South Central MLS (Patty Stuard)

•

The Beacon - Catholic Charities Diocese of Madison (Fannicia Hawkins & Carly Sobye)

•

University of Wisconsin-Madison, Division of Extension, Community Development Institute (Matt Kures) Plus all other people, businesses, and data sources who contributed time and information to this report!

2023 State of Downtown Madison | 2

INTRODUCTION

Downtown Madison Inc. (DMI) is proud to present its 13th annual State of Downtown Madison, a report that provides objective and accurate information on downtown Madison. Thirteen years of data has given us a wealth of information to better understand the current state of downtown and help plan for future projects, growth, challenges, and opportunities to maintain a healthy and vital downtown Madison. We encourage residents, businesses, community organizations, and city officials to join DMI in using the information in this report to help make downtown Madison an economically strong, inclusive, equitable, and vibrant place to live, work, and visit.

BOUNDARIES & MAP

The central downtown is defined in this report as the area bounded by Lake Mendota, Lake Monona, Blair Street, and Park Street. The majority of data compiled in this report focuses on the central downtown area. On a broader scale, downtown Madison is often viewed as the Madison isthmus from Camp Randall Stadium on the west to the Yahara River on the east. This broader definition is reflected in various metrics throughout the report, but the primary focus is the central downtown. The geographic boundaries of Madison’s Central Business Improvement District (BID) and 53703 zip code are also used in the report.

2023 State of Downtown Madison | 3

Legend

Lake Monona

­

Lake Mendota

DEVELOPMENT & INVESTMENT Downtown Madison Tax Base

Source: City of Madison Assessors Office (*compiled by DMI)

In 2023, the tax base in downtown Madison was $3.84 billion, an increase of $1.97 billion, or 104.8%, since 2011*

New Construction in Downtown Madison (in millions)* Residential

Commercial

Downtown Madison

Total $4.3 $67.1

$1.0 $74.0

$75

$75.0

Real Estate Taxes Generated (in millions) City of Madison

$71.4

$10.8 $43.3

2011

$54.1 $50

$41.6

$2.4 $17.3

$3.5 $16.6

$4.8 $30.8

$19.6

$20.1

$35.5

$457.5

2023 $67.4*

$25

Sources: City of Madison Assessors Office and Treasurers Office (*compiled by DMI)

0 2018

2019

2020

2021

2022

2023

Source: City of Madison Assessors Office (*compiled by DMI). Residential defined as Single-Family, Condominium, 2-unit and 3-7 unit properties only. All other properties including large apartment buildings defined as commercial. Central Downtown area only. Figures represent new and rehab construction projects. Figures only include new development completed prior to the annual tax assessments.

2,790

$705.7

Residential units approved for construction in downtown Madison in the past five years (20182022) which is 18% of the total residential units approved by Plan Commission citywide

424

Acres in downtown Madison which is about 1% of acres citywide*

39%

Percentage of tax-exempt parcel acres in downtown Madison*

Sources: City of Madison Planning Division and City of Madison Assessors Office (*compiled by DMI)

New development approved in downtown Madison in 2022

9

projects

515

sq. ft. of office space

1,497

new residential units

33,170

sq. ft. of commercial space

Source: City of Madison Planning Division

2023 State of Downtown Madison | 4

Citywide Real Estate Taxes Generated from Downtown Madison

11.1% 10.9%

11%

10.5%

10.3%

10.3%

10.1% 10% 9.6%

9.6%

2014*

2015*

10% 9.6%

9.3% 9.1%

9.1%

2011

2012

9% 2013

2016*

2017*

2018*

2019*

2020*

2021*

2022*

2023*

Sources: City of Madison Assessors Office and Treasurers Office (*compiled by DMI)

Development in Downtown Madison 2018-2022 Multi-Family Buildings Constructed 2018-2022 Total Units Constructed: 813 Approved/Under Construciton Units: 2,714 2-9 10-24 25-49

50-99

100-199

Other Projects

Approved or Under Construction

Non-Residential Building

200+

Prepared by the City of Madison Planning Division, August 2023

For current, recently completed, and planned development projects in the downtown Madison area, check out DMI's Downtown Madison Development Tracker: www.downtownmadison.org/downtown-madison-development-tracker.

2023 State of Downtown Madison | 5

RESIDENTS 6 10

Central Downtown Madison Neighborhoods/Associations: Bassett, First Settlement, James Madison Park, Mansion Hill, Miffland (all part of Capitol Neighborhoods, Inc.), and Campus Area Neighborhood Association

Greater Downtown Madison Area Neighborhoods/Associations: Bay Creek, Bayview Foundation, Inc., Brittingham Apartments Resident’s Association, Greenbush, Marquette, Monona Bay, Parkside Resident Association, South Campus Property Owners Association, Tenney-Lapham, and Vilas Sources: City of Madison Department of Planning, Community & Economic Development, Planning Division website and Capitol Neighborhoods, Inc. website

Accessibility

Population with a disability in the City of Madison and Dane County is both 8.3%

Source: U.S. Census Bureau, 2017-2021 American Community Survey 5-Year Estimates* (for downtown Madison, the margin of error exceeds the limit to use in the report)

Age in Downtown Madison Age

2000

2023

Under 15 years

0.8%

1.3%

15 to 34 years

87.4%

83.1%

35 to 54 years

7.7%

7.4%

55 to 74 years

2.1%

5.9%

75 years and older

2.0%

2.3%

Population Downtown Madison

City of Madison

Dane County

2000

22,168 208,054 2010

24,009

488,073

233,209

2020

32,996

269,840

561,504

33,931

279,716

583,130

2023

Source: U.S. Census Bureau, 2000 Census; ESRI estimates, 2023*

Race and Ethnicity

426,526

Source: U.S. Census Bureau, 2000, 2010, 2020 Census, ESRI Estimates: 2023*

Downtown Madison

City of Madison

Race and Ethnicity

2000

2023

Change

2000

2023

Change

American Indian and Alaska Native Asian Black or African American Hispanic or Latino (of any race) White Other race/2 or more races

74 1,352 951 827 19,019 772

136 4,716 1,154 2,307 24,770 3,156

+83.8% +248.8% +21.3% +179.0% +30.2% +308.8%

759 12,065 12,155 8,512 174,689 8,386

1,399 27,412 20,699 25,734 196,361 33,846

+84.3% +127.2% +70.3% +202.3% +12.4% +303.6%

Source: U.S. Census Bureau, 2000, ESRI Estimates: 2023*

2023 State of Downtown Madison | 6

Gender City of Madison

Downtown Madison

Female 46.8%

Female 50.1%

Male 53.2%

Male 49.9%

Downtown Madison

City of Madison

1.82

2.11

35,000

City of Madison

3.3%

96.7%

20.6%

79.4%

Source: U.S. Census Bureau, 2017-2021 American Community Survey 5-Year Estimates*

Per Capita Income

40,000

33.2%

Downtown Madison

Source: ESRI estimates, 2023*

45,000

City of Madison

47.9%

Occupied Housing Units With vs. Without Related Children of Householder Under 18 Years

Average Household Size

$39,210

Downtown Madison

Source: U.S. Census Bureau, 2017-2021 American Community Survey 5-Year Estimates* (Households spending over 30% of their income on housing are considered cost-burdened)

Source: ESRI estimates, 2023*

Downtown Madison

Occupied Housing Units with 30% or more of Monthly Housing Costs as a Percentage of Household Income in the Past 12 Months

City of Madison

Dane County $44,746

Occupied Housing Units Vehicles Available Downtown Madison

City of Madison

One or Fewer 73.4%

One or Fewer 54%

Two or More 26.6%

Two or More 46%

$42,693 $36,430

30,000 25,000

$20,495

$28,164

20,000 15,000

2009-2013

2017-2021

Source: U.S. Census Bureau, 2009-2013, 2017-2020 American Community Survey 5-Year Estimates*

Source: U.S. Census Bureau, 2017-2021 American Community Survey 5-Year Estimates*

*ESRI data are estimates only that may not include local changes or factors such as the increase of population due to recent development projects.

These estimates and Census figures are also not direct comparisons due to differences in the sources and data collection methodologies. Comparisons are for estimates only. U.S. Census Bureau, American Community Survey 5-Year Estimates figures are subject to a margin of error based on a 90 percent confidence interval. Per capita income figures are based on periods that contain overlapping years. Period differences in the figures may not be statistically significant. Figures are adjusted for inflation in 2021 dollars. Income for downtown includes student population. Downtown Madison defined as 53703 zip code for household spending on housing, related children of householder under 18 years, and available vehicles data.

2023 State of Downtown Madison | 7

HOUSING Downtown Madison Apartment Units In 2023, there were 11,129 apartment units in downtown Madison, an increase of 50% from 2011.

Source: City of Madison Assessors Office (*compiled by DMI). Central Downtown area only.

Types of Units in Downtown Madison

251

170

Apartment Units

Duplexes

Condo Living Units

Single-Family Properties

223

148

1,181

7,423

11,129

2011

2023*

1,240

Source: City of Madison Assessors Office (*compiled by DMI). Central Downtown area only.

Median Value of Owner-Occupied Housing Units 2023

2022

2021 Downtown Madison

City of Madison

$393,925 $265,882

Downtown Madison

City of Madison

$500,532 $313,068

Source: CBRE, ESRI 2021-2023

2023 State of Downtown Madison | 8

Downtown Madison

City of Madison

$539,946 $345,665

Rental Vacancy Rates in Downtown Madison 5%

4.7%

4.5%

4%

3.2%

3.3%

3.1%

3.6%

3.4% 2.8%

3%

2.2%

1.9%

2.1%

2012-2016

2013-2017

2% 1% 0% 2007-2011

2008-2012 2009-2013 2010-2014

2011-2015

2014-2018

2015-2019

2016-2020

2017-2021

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates. Figures are subject to a margin of error based on a 90 percent confidence interval. Downtown Madison defined as 53703 zip code.

Median Sales Price in Greater Downtown Madison (in thousands) Single-Family

Condos $455

$450 $400

$381.5

$369

$340

$350 $297

$300 $250 $200

$296.2 $247

$225 2010 2015 2020 2022

2010 2015

2020 2022

Source: REALTORS® Association of South Central Wisconsin/South Central Wisconsin MLS. Downtown Madison defined as the greater downtown area, not including the Bay Creek neighborhood.

Average Rental Rate Comparisons

LOCATION

AVERAGE RENT

AVERAGE APARTMENT SIZE CITYWIDE

Downtown Madison, WI Madison, WI Downtown Austin, TX Downtown Cincinnati, OH Downtown Des Moines, IA Downtown Minneapolis, MN Downtown Portland, OR Downtown Raleigh, NC

$2,032 $1,597 $3,432 $1,900 $1,267 $1,645 $1,786 $1,833

838 sq. ft.

838 sq. ft.

863 sq. ft.

866 sq. ft.

760 sq. ft.

775 sq. ft.

758 sq. ft.

952 sq. ft.

Source: RentCafe, updated July 2023. Downtown Madison defined as Capitol area.

Per RentCafe: 1-bedroom apartments are closer to the average apartment size.

2023 State of Downtown Madison | 9

QUALITY OF LIFE & SAFETY Places of Worship in Greater Downtown Madison Members/people served in 2023: 10,308 Average weekly service attendance in 2023: 4,254 Meals/people served at onsite food pantries/meal programs in 2022-2023*: 36,487 Sources: Bethel Lutheran Church, Blackhawk Church-Downtown, Calvary Lutheran Chapel, First United Methodist Church, Grace Episcopal Church, Pres House, Diocese of Madison (Cathedral Parish and St. Paul Catholic Student Center), St. John’s Lutheran Church, and Wisconsin Lutheran Chapel. Additional places of worship may be located in downtown that are not included in these numbers. *Includes onsite food pantries/meal programs at Bethel Lutheran Church (meals in 2022), First United Methodist Church (meals in 2023 as of 8/29/2023), and Grace Episcopal Church (individuals in 2022).

The Beacon homeless day resource center is operated by Catholic Charities Diocese of Madison as a public-private partnership providing community solutions to help men, women, and children who are experiencing homelessness in Dane County, Wisconsin.

The City of Madison is currently collaborating with Dane County to plan for and design a purposebuilt shelter facility that will serve primarily men in our community who experience homelessness.

Guest Visits (daily average) 250

223

208

200 150

171 129

103

100 50 0

2018-2019 2019-2020

2020-2021

2021-2022

2022-2023

Source: The Beacon - Catholic Charities Diocese of Madison. Numbers are from June-May.

Downtown Madison Safety Criminal Offenses in Downtown Madison* 4000 3750

3,883 3,735

3,623

3,635

3,542

3,497

3,400

3500

3,173

3250

3,167 2,998

3000

3,132 2,831

2750

2,569 2500 2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Source: City of Madison Police Department (*offenses include: battery simple assault, burglary, theft from building, theft from vehicle, all other larceny, damage/vandalism of property, drug/narcotic violation, disorderly conduct, liquor law violations, and trespass of real property)

2023 State of Downtown Madison | 10

2022

Child Care in Greater Downtown Madison In 2023, the daytime capacity at child care providers in greater downtown Madison was 593.

Source: Wisconsin Department of Children & Families, YoungStar Program website. *Downtown providers include: Child Development Lab, Creative Learning Preschool and Child Care Center, Cultured Kids Vilas, First Happy Children, Meriter Children’s Center, Nina Okwali, SSM Health Child Care Center, St. James, Tenney Nursery and Parent Center Inc., and University Ave Discovery Center Inc. Additional child care providers may be located in downtown Madison that are not included in these numbers.

Parks and Beaches in Downtown Madison 6

Parks in central downtown Madison: (Brittingham Park, James Madison Park, Law Park, Peace (Elizabeth Link) Park, Period Gardens, and Proudfit Park)

22

Parks in greater downtown Madison

2

Playgrounds in central downtown Madison (1 all-inclusive playground at Brittingham Park)

10

Playgrounds in greater downtown Madison

6

Beaches in greater downtown Madison (B.B. Clarke Beach, Bernie's Beach, Brittingham Beach, James Madison Beach, Tenney Beach, and Vilas Beach)

Source: City of Madison Parks Division website

Lakes in Downtown Madison Phosphorus Concentration (mg/L)

Lake Mendota

Lake Monona 0.045

Goal = <0.02-0.032 0.045

0.045 0.035 0.030

0.030

0.015

0.030

0.030

0.026 0.022

0.030

0.025 0.020

0.039

0.037

0.040

0.026

0.045

NA* 0.036

0.036

0.026

0.025

0.024

0.022 2013

2014

2015

2016

2017

2018

0.025

2019

2020

2021

2022

Source: R. Lathrop (UW Center for Limnology) and Clean Lakes Alliance's annual State of the Lakes (*Covid-19 prevented UW’s Long-Term Ecological Research (LTER) program’s ability to collect info for Lake Monona in 2020). Data is July-Aug medians.

Water Clarity (ft)

Lake Mendota

Lake Monona

Goal = >5 – 8.1

9 7.2

8

6.6

7 6 5

4.6

4.9

4 3 2

3.6 2013

4.1 2014

5.1

4.9

6.2

5.9 6.6

3.9

2015

2016

2017

4.9

5.7

5.1

4.9

4.6

5.2

2018

2019

NA*

4.6

2020

2021

Source: R. Lathrop (UW Center for Limnology) and Clean Lakes Alliance's annual State of the Lakes (*Covid-19 prevented UW’s Long-Term Ecological Research (LTER) program’s ability to collect info for Lake Monona in 2020). Data is July-Aug medians.

2023 State of Downtown Madison | 11

2022

OFFICE MARKET Downtown Madison Office Market Overall vacancy rate for office space in downtown Madison: 16.7%, up 3.3% from 2022 Downtown Madison Office Market by the Numbers: Downtown Madison is comprised of 43.66% Class A, 41.16% Class B, and 15.18% Class C office space Source: Broadwing Advisors, LLC, REDI/Catylist, JLL and Hubbell Commercial, Q2 2022 and 2023.

Downtown Madison defined as Madison, WI, CBD (Capitol Square+).

Office Space by Class in Downtown Madison

Total Inventory: 4,653,407 sq. ft. Vacancy Rate: 16.7%

Class A

Class B

Class C

Inventory: 2,031,765 sq. ft.

Inventory: 1,915,391 sq. ft.

Inventory: 706,251 sq. ft.

Vacancy Rate: 9.9%

Vacancy Rate: 21.5%

Vacancy Rate: 22.9%

Source: Broadwing Advisors, LLC, REDI/Catylist, JLL and Hubbell Commercial, Q2 2023. Downtown Madison defined as Madison, WI, CBD (Capitol Square+).

2023 State of Downtown Madison | 12

Office Space Vacancy Rates in Downtown Madison 20 17.17%

16.7% 15.85%

13.91% 15

13.4%

13.4% 10.9%

10.77%

9.8%

9.05%

9.35%

8.99%

10

7.95%

7.35%

5 2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Source: Broadwing Advisors, LLC, Xceligent, Q3 2010-2011, Q2 2012-2017, Broadwing Advisors, LLC, REDI/Catylist, Q2 2018-2020, Broadwing Advisors, LLC, REDI/Catylist, and JLL, Q2 2021, and Broadwing Advisors, LLC, REDI/Catylist, JLL and Hubbell Commercial, Q2 2022-2023.

Downtown Madison defined as Madison, WI, CBD (Capitol Square+).

Office Space Vacancy Rate Central Business District Comparisons in 2023 Portland, OR

Minneapolis, MN

Madison, WI

Milwaukee, WI

27.0%

17.4%

16.7% (downtown) 12.9% (city)

17.6%

Raleigh, NC 13.3%

Cincinnati, OH 21.2%

Boulder, CO 29.0%

Indianapolis, IN 22.0%

Austin, TX 20.5%

Des Moines, IA 18.7%

Sources: Broadwing Advisors, LLC, REDI/Catylist, JLL and Hubbell Commercial for Madison, WI, Minneapolis, MN, and Raleigh, NC, Commercial Association of REALTORS® Wisconsin (CARW) for Milwaukee, WI, JLL for Austin, TX, Cincinnati, OH, Des Moines, IA, and Indianapolis, IN, Colliers for Portland, OR, and The Colorado Group for Boulder, CO. Numbers are for Q2 2023. Central Business Districts for each city. Downtown Madison defined as Madison, WI, CBD (Capitol Square+).

2023 State of Downtown Madison | 13

EMPLOYMENT Downtown Madison Employment In 2023, 17% of employees citywide were located in downtown Madison.

Source: CBRE, ESRI 2023

Number of Employees

Number of Businesses

Downtown Madison: 2020: 50,627 2023: 49,637

Downtown Madison: 2020: 1,992 2023: 1,961

City of Madison: 2020: 236,099 2023: 265,424

City of Madison: 2020: 11,565 2023: 11,450

Dane County: 2020: 410,694 2023: 428,555

Dane County: 2020: 22,240 2023: 22,206

Source: CBRE, ESRI 2020 and 2023

In 2023, 13,885 people were employed by the 10 largest private-sector industry businesses in downtown Madison compared to 31,615 by the University of Wisconsin-Madison, State of Wisconsin, Dane County and City of Madison combined.

Sources: Madison Regional Economic Partnership (MadREP), Lightcast Q3 2023 Data Set, August 2023, Workforce Development Board of South Central Wisconsin (Data for individual businesses is provided by DatabaseUSA.com, which maintains a database of more than 14 million U.S. business entities. Note that in aggregate it will not be consistent with Lightcast labor market data due to differences in definitions, methodology, coverage, and industry/geographic classification. Due to a lack of source data at the ZIP code level, Lightcast's ZIP-level estimates can be less accurate when looking at a small number of ZIP codes. This is especially likely to occur in rural areas. Downtown Madison defined as 53703, 53706, 53707 and 53715 zip codes. Size measured by the combined number of full-time and part-time employees. Not all employees work onsite.) and University of Wisconsin-Madison, wisc.edu/about/facts/, 2023.

2023 State of Downtown Madison | 14

Employment by Industry in Downtown Madison in 2023 (Top 10)

0%

10%

20%

30%

40%

Public Administration

37.9%

Educational Services

15.3%

Accommodation and Food Services

10.7%

Food Services and Drinking Places

7.3%

Professional, Scientific and Technical Services

6.6%

Finance and Insurance

4.9%

Health Care and Social Assistance

4.5%

Information

4.3%

Other Services excluding Public Administration

4.0%

Legal Services

3.4%

Source: CBRE, ESRI 2023

2023 State of Downtown Madison | 15

EDUCATION Higher Education in Downtown Madison University of Wisconsin-Madison 49,886

938

acres

$3.7

Total Enrollment (Fall 2022)

Campus (main campus)

Madison Metropolitan School District (MMSD) District Enrollment

24,660 students (all grades)

Development Partner

Key philanthropic and resource development partner to MMSD: Madison Public Schools Foundation

billion

Budget

8th

Research expenditure ranking (national), 2021

13

Schools and Colleges

25,297

Primary Education in Downtown Madison

2023-24 Spending Plan $581,154,025

Faculty and Staff

DMI Member Organizations 475,556

who are foundation-based Adopt-a-School partners: 16

Living Alumni

Source: University of Wisconsin-Madison, wisc.edu/about/facts/, 2023

Source: Madison Public Schools Foundation, August 2023

2023 State of Downtown Madison | 16

MMSD Elementary Enrollment Downtown Madison

All-District

2010-2011 1,189

11,960

2015-2016 1,151

12,304

2020-2021 1,020

12,713

2022-2023 1,003

12,693

Source: Madison Metropolitan School District and madison.k12.wi.us* *Downtown schools include: Lapham (4K-2), Marquette (3-5), Franklin (4K-2), and Randall (3-5). Figures exclude 4K and PK programs for 2010-2011 and 2015-2016 and include 4K and PK on-site and off-site programs for 2020-2021 and 2022-2023.

2023 State of Downtown Madison | 17

RETAIL & RESTAURANTS Madison’s Central Business Improvement District (BID) Madison’s Central BID is at the heart of downtown’s retail/restaurant area and encompasses the greater State Street, Capitol Square, and King Street areas (see map on page 3).

107 King Street

3,500,000 3,186,649

3,274,997 3,000,000

Daily Average: 58,405 Weekly Average: 409,963

Pedestrian Counts Comparison 625 State Street

Pedestrian Counts along State Street & King Street

2,688,244

2,500,000

Monthly Average: 1,776,507 Source: Madison’s Central BID (counts for May 2022-April 2023)

2,000,000

BID Business Ownership Mix 1,500,000 1,554,676 1,000,000 900,777

759,703

500,000

602,914 379,839

0 2019

2020

2021

2022

Source: City of Madison Traffic Engineering Eco-Totem counts

Customers helped by Madison’s Central BID’s Downtown Information Ambassador Program in 2022: 23,085, an increase of 88% from 2021 Source: Madison’s Central BID

12% 6%

82% National companies, chains Regional companies, chainlets Locally owned

Source: Madison’s Central BID, 2023 (Ownership mix figures do not include non-profits. Locally owned includes Wisconsin ownership, locally owned franchises.)

2023 State of Downtown Madison | 18

BID Business Type Mix

Food & Drink

Total: 212

Total: 360

Total: 380

Total: 363

50%

50 40

Service

Retail

45%

42%

38%

37%

38%

35%

37%

28%

30 20

20%

18%

2020

2023

12%

10 0 1998*

2010

Sources: Madison’s Central BID and Gibbs Report 1998 (BID boundaries expanded in 2018 impacting the number of businesses and spaces available. Available spaces do not include properties slated for development. Numbers as of 8/22/2023.) *greater State Street area only

Street Vending in Downtown Madison Mall Concourse

BID Business Space Vacancy Rates 10.2% 10.6%

11

9.5%

10 9

7

6.3%

Food Cart Vending Licenses Issued: 25

7.4%

7.1%

8 6.3% 5.8%

6 5

Sidewalk Cafés and Roadway Café Total Applications: 72

4 3 2 1

2016

2017

2018

2019

2020

2021

2022

(85.7% of applications submitted city-wide)

2023

Source: Madison’s Central BID (BID boundaries expanded in 2018 impacting the number of businesses and spaces available. Available spaces do not include properties slated for development. Numbers as of 8/22/2023.)

Source: City of Madison Economic Development Division Office of Business Resources (statistics are current as of 9/21/2023).

The Downtown Madison Mall Concourse is roughly the same boundaries as the BID.

2023 State of Downtown Madison | 19

TOURISM & ATTRACTIONS Downtown Madison Tourism Many signature events are held in downtown Madison including the Dane County Farmers’ Market, Concerts on the Square, Madison Night Market, Art Fair On the Square, Maxwell Street Days, Taste of Madison, and more, as well as many sporting events such as Wisconsin Athletics, Forward Madison FC, and Ironman Wisconsin.

Visitor Spending in Downtown Madison (in millions) $303.7

325

Downtown Madison

250

8000

$296.5

6,517

7000 6000

225 200

$187.7

5000

175

4000

150

3000

125

2000

3,322

1000

100 75

$114.9

0

50 25

City of Madison

$277.7

300 275

Number of Hotel Rooms/ Accommodations in 2023

2018

2019

2020

2021

2022

Source: Destination Madison, Tourism Economics. Downtown Madison defined as 53703 zip code.

10

20

30 40 50 60 70 80 90 $82.2

Food & beverage Lodging*

$75.3

Retail

$62.2

Transportation** Recreation/ Entertainment

$37.0 $21.0

Rooms

273

ADA Compatible

Source: Destination Madison. Downtown Madison defined as State Street/Campus, Capitol/Downtown, and Near East. Numbers include hotel/motel/resort, bed & breakfast, and extended stay rooms.

Visitor Spending by Category in Downtown Madison in 2022 (in millions) 0

149

Total: $277.7

Source: Destination Madison, Tourism Economics. Downtown Madison defined as 53703 zip code. *Lodging includes 2nd home spending. **Transportation includes both ground and air transportation.

2023 State of Downtown Madison | 20

Downtown Madison Tourism by the Numbers: $28.9

Million in visitor associated state and local tax revenue in downtown Madison in 2022, an increase of 34.6% from 2021

$277.7

Million in visitor spending in downtown Madison in 2022, an increase of 48% from 2021

3,078

Jobs directly supporting visitors in downtown Madison in 2022, an increase of 14.2% from 2021 Conferences and conventions at Monona Terrace Community & Convention Center in 2022 (up from 13 in 2021)

46

712

Average attendance (down from 955 in 2021)

$27.8

Million in economic impact (up from $5.9 million in 2021)

30,414

Hotel room nights generated (up from 9,369 in 2021)

Sources: Destination Madison, Tourism Economics (Downtown Madison defined as 53703 zip code), and Monona Terrace Community & Convention Center Annual Report 2022

Visits to Destinations in Greater Downtown Madison* (in millions) 0

1

2

3

4

5

6

7

8

2019-2020 2020-2021

9

10 9,895,888

2,054,483 7,609,340

2021-2022

9,408,889

2022-2023

In 2022-2023, total visits to destinations in greater downtown Madison increased 23.6% from total visits in 2021-2022 Sources: Alliant Energy Center, Big Top Baseball Breese Stevens Field, Henry Vilas Zoo, Madison Children’s Museum (fiscal year July 1–June 30), Madison Museum of Contemporary Art, Madison Public Library, Monona Terrace Community & Convention Center Annual Report, Overture Center for the Arts (season July-June), UW Athletic Department (all facilities, July 1–June 30), Wisconsin Department of Administration (Wisconsin State Capitol tours), Wisconsin Historical Museum, Wisconsin Institutes for Discovery, Wisconsin Union (fiscal year July 1-June 30), and Wisconsin Veterans Museum. *Additional destinations may be located in downtown Madison that are not included in these numbers.

2023 State of Downtown Madison | 21

MOBILITY Downtown Madison Pedestrians The daily average pedestrian count on State Street and King Street from May 2022-April 2023 was 58,405, an increase of 5.8% from May 2021-April 2022.

Source: Madison’s Central BID

Downtown Madison Mobility in 2022 by the Numbers

Bus (Metro Transit) • Fixed route ridership: 8,287,021, an increase of 53.7% from 2021 • Paratransit ridership: 92,341, an increase of 35.8% from 2021 • Routes serving downtown: 18 including UW circulators

Air • Dane County Regional Airport passengers: 1,882,218, an increase of 33% from 2021

Bicycle

Automobile

• Bicycle counts on Southwest Path at Monroe St.: 298,947, an increase of 0.6% from 2021 • Bicycle counts on Capital City Trail at North Shore Dr.: 440,717, a decrease of 11% from 2021

• City of Madison parking spaces in downtown: 3,888 off-street (84 ADA spaces) and 1,032 on-street metered (27 designated ADA spaces)

Bike Share (Madison BCycle)

• Stations: 68, an increase of 10 from 2021 • Trips: 308,990, an increase of 6.1% from 2021 • Miles biked: 929,050, a decrease of 5% from 2021

Sources: Metro Transit, Madison BCycle, Dane County Regional Airport, City of Madison Traffic Engineering Eco-Totem counts, and City of Madison Parking Utility (Off-street parking spaces include State Street Capitol, Wilson Street, Overture Center, State Street Campus, and Capitol Square North Garages; Brayton, Buckeye, Blair, and Wilson Lots. On-street metered spaces exclude periphery spaces (Schenk’s Corner and Monroe St.) and spaces out-of-service long-term. Parking spaces count as of 8/18/2023.)

2023 State of Downtown Madison | 22

Means of Transportation to Work Carpooled

Drove Alone

Public Transportation

Walked

3.4% 0.3%

Other (Taxicab, Motorcycle, or Other Means)

Worked at Home

Bicycle

1.3%

1.1% 10.1%

10.1%

3.6%

12.1%

6.1% 38.3%

40.1% 27.5%

8.9% 60.5%

7.1%

26.6%

6.6%

15.2%

13.6% 4.1%

3.4% Downtown Madison 2007-2011

Downtown Madison 2017-2021

City of Madison 2017-2021

Source: U.S. Census Bureau, 2007-2011 and 2017-2021 American Community Survey 5-Year Estimates; figures are subject to a margin of error based on a 90 percent confidence interval. Downtown Madison defined as 53703 zip code.

Occupancy Rates for Garages and Lots in Downtown Madison

90%

60%

2022

82%

80% 70%

2019

72% 61%

51%

50% 40%

46%

44%

33%

30%

30%

70%

63% 63%

42% 33%

20%

20% 10% Overture Center (G)

Buckeye (L)

State Street Campus (G)

State Street Capitol (G)

Capitol Square North (G)

Government East/Wilson Street (G)*

South Livingston St. (G)

Source: City of Madison Parking Utility (occupancy rates measured from 10am-2pm). *The Wilson Street Garage opened in late June 2020, replacing the Government East Garage. Occupancy is Government East Garage for 2019 and Wilson Street Garage for 2022. G=garage, L=lot.

2023 State of Downtown Madison | 23

2023 2023 2023 2023 State State State State of ofof the the of the Downtown the Downtown Downtown Downtown Sponsors Sponsors Sponsors Sponsors Presenting Presenting Presenting Presenting Sponsor: Sponsor: Sponsor: Sponsor:

Major Major Major Sponsors: Sponsors: Major Sponsors: Sponsors:

Supporting Supporting Supporting Supporting Sponsors: Sponsors: Sponsors: Sponsors:

Associate Associate Associate Associate Sponsors: Sponsors: Sponsors: Sponsors: 360 Commercial Real Estate 360 360 Commercial Commercial 360 Commercial Real Real Estate Estate Real Estate The Boldt Company Cinnaire EUA EUA The The Boldt Boldt Company The Company Boldt CompanyCinnaire Cinnaire CinnaireEUA EUA &Homes 360 LLC LLC & 360 & 360 Homes &Homes 360 LLC LLC Homes Monona Terrace Community Monona Monona Terrace Monona Terrace Community Community Terrace Community TruStage Sprinkman Real Estate Ho-Chunk Ho-Chunk Ho-Chunk Gaming Ho-Chunk Gaming Gaming Madison Madison Gaming Madison Madison Sprinkman Sprinkman Sprinkman Real Real Estate Estate Real Estate & Convention Center & Convention & Convention & Convention Center Center Center

Printed Printed Printed and Printed and and Designed Designed Designed and Designed by: by:by: by:

MISSION MISSION MISSION MISSION STATEMENT: STATEMENT: STATEMENT: STATEMENT: Make Make Make Downtown Downtown Make Downtown Downtown Madison Madison Madison Madison anan an an economically economically economically economically strong, strong, strong, inclusive, strong, inclusive, inclusive, inclusive, equitable, equitable, equitable, equitable, and and and vibrant vibrant vibrant and vibrant place place place toto live, place to live, live, work, to work, live, work, and and work, and visit. visit. visit. and visit.

Produced Produced Produced in November inProduced November in November 2023 in 2023 November by: 2023 by: by: 2023 by:

VALUES VALUES VALUES VALUES STATEMENT: STATEMENT: STATEMENT: STATEMENT: DMI DMI DMI strives strives DMI strives tostrives to beto be an be an to inclusive an inclusive beinclusive an inclusive organization organization organization organization committed committed committed committed toto respect to respect respect to and respect and and generosity generosity generosity and generosity ofof spirit. of spirit. spirit. of spirit.

We We believe We believe believe Wethat believe that that diversity diversity that diversity diversity strengthens strengthens strengthens strengthens downtown downtown downtown downtown Madison Madison Madison Madison and and and our our entire our and entire entire our community community entire community community and and and encourage encourage encourage and encourage our our members our members members our members toto engage to engage engage towith, engage with, with, learn learn with, learn from, from, learn from, and and from, and develop develop develop and an develop an understanding an understanding understanding an understanding ofof others. of others. others. ofWe others.

We expect We expect expect Webehavior expect behavior behavior behavior that that that exhibits exhibits that exhibits respect exhibits respect respect for respect for all for all all for all people people people and people and and supports supports supports and supports these these these values values these values atat values DMI at DMI DMI gatherings. at gatherings.

DMI gatherings. gatherings.

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