At first glance, it might seem like a world separates downtown Chicago and Montreal because of what sets them apart. But the pandemic has highlighted what the second-largest business district in the United States, the Loop, and the second-largest financial hub in Canada have in common.
Posted at 3:00 p.m.
Our two city centers are now following a similar trajectory in the face of the end of the crisis and appear to be among the most dynamic frontrunners, while remaining cautiously optimistic. They are experiencing an evolution tinged with challenges, several victories and the same ambition: to bring life to the middle of the skyscrapers.
This summer, both experienced an exceptional summer season and a spectacular resurgence in attendance.
Despite a slower return of workers, our downtown cores have seen a strong recovery in tourism and commercial activity as footfall, hotel occupancy and retail spending approach pre-pandemic numbers.
They have revived all their major events, in addition to offering a diversified and accessible program, inviting tourists and residents to rediscover their many attractions and enjoy them like never before.
Both benefit from a significant increase in the population that chooses to live there. In 2021, more than 42,000 people inhabited the Loop, the highest rate ever recorded in its history. Downtown Chicago is now positioned as the center with the strongest residential growth in the United States. As for downtown Montreal, its population has grown by 40% since 2016, the second strongest demographic growth in Canada. A pleasure to live there that makes it all the more necessary to enhance and diversify a cultural, commercial and festive four-season event.
International influence
PHOTO FRANÇOIS ROY, LA PRESSE ARCHIVES
The Old Port of Montreal in the summer of 2022
Downtown Montreal and Chicago continue to shine internationally despite a long episode marked by the absence of visitors and major events. Chicago rose to second place in the ranking of the best cities in the world in 2022. While Montreal is the only city on the continent among the 10 cities that hosted the most international events in 2021, consolidating its position as the northern capital -American for international events.
Despite the challenges they face, both have never ceased to attract young talent, private investment and new businesses challenged by their abundant ecosystems. Google has chosen to strengthen its presence in Montreal and Chicago by inaugurating new offices, a symbol of the dynamism experienced by our downtown areas.
Both have played the card of customer diversity to breathe new life into their town centres. Montreal already had a head start, both the economic and cultural hub of Quebec where nearly 130,000 students converge. Just like the Loop, already renowned for its many attractions, including its world-class public art and its prestigious higher education institutions, and which has become a reference during this crisis for its ability to reinvent its business district by offering a panoply memorable and unifying experiences.
The pandemic has reminded us that the world is changing. And city centers, far from being suffocated, are also following this trend to meet the challenges they face.
As the summer season gives way to business tourism and thousands of students return to campus, these two destinations remain among the most popular in North America.
And it is through new events, urban art, entertainment and actions to beautify vacant premises, energize our commercial arteries, enhance accessibility, cleanliness and the feeling of security that we will continue to develop. an exceptional environment in which to live, study, work and come together.
It’s still too early to claim victory, but skeptics will be confounded. Montreal and Chicago travel together.
* Michael Edwards and Glenn Castanheira will be panelists at C2 Montréal as part of the conference “Investing in dynamic business districts to promote social growth”, which will take place on September 27 at 9 a.m.