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Lease expirations in the CBD’s most competitive towers set for spike in 2020 and 2024 there after /262/richmond-8-22-cbd-leases<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-blue-sky-office-exterior.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/262/richmond-8-22-cbd-leasesLease expirations in the CBD’s most competitive towers set for spike in 2020 and 2024 there after ​A law firm relocation to a new tower in 2015 (Gateway Plaza), combined with several law firm downsizes, reset market fundamentals in the CBD, giving tenants the upper hand during lease negotiations.
Multifamily development now concentrated near the CBD/148/multifamily-development-cbd<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/residential-multifamily.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/148/multifamily-development-cbdMultifamily development now concentrated near the CBD​Rising employment within the city limits, roughly a 17.0 percent increase since 2000, created a surge of apartment development in the urban submarkets.
Were no DC, but the number of commuters traveling by foot and bicycle increases within the city limits./106/commuters-traveling-by-foot<img alt="" height="63" src="/united-states/en-us/PublishingImages/Snapshots/transportation-man-on-a-bicycle-with-red-bag-jll.jpg" width="120" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/106/commuters-traveling-by-footWere no DC, but the number of commuters traveling by foot and bicycle increases within the city limits.Employment within the City of Richmond has reached its highest level since 1990, increasing by 18.8 percent between 2009 and 2016.