City at the Crossroads
The trends shaping Chicago, the decisions we must make — a biweekly series by journalist Ed Zotti.
Unlike previous generations coming to Chicago, this one typically brings middle-class backgrounds, coming to the United States for college.
Among companies already moving us in that direction: mHUB, a product startup incubator, Azul 3D, with leading 3D printers, and Fusion OEM, with robots that operate alongside humans.
The first phase of redevelopment was a residential boom than began around 2000, ending with the recession. Since, recovery has been slow and uneven. Here’s a breakdown.
Conditions for black Chicagoans have become worse vs. the country overall and also compared to the rest of black America. Yet there are signs of a population turnaround.
There are changes, but it’s not just that the city is getting hotter. Summer nights are warmer but summer days not so much — except in super-hot years.
Other cities and regions are bigger visitor draws or growing faster. Based on hotel-room demand growth, downtown Chicago has done better than Los Angeles but is well behind New York City.
Despite gentrification worries, the recent influx has kept the city from going the way of Detroit. But the exodus of the black middle class is pushing many neighborhoods into poverty.
It’s also where most new employment in the city will continue to be. And it isn’t just people with MBAs or law degrees who will be getting hired.
Of those distinct parts of the city, five are on the way up, one is treading water, and one remains in steep decline. That’s a big change since 2010.
To help ensure that it helps, rather than hurts, the city, put it right downtown, not in an isolated spot.
Downtown is going to be the major generator of new jobs for the foreseeable future. For the first time in the modern era, more than half of the city’s jobs are downtown.
Chicago is lively, easy to get to and cheap. If it doesn’t stand out in any particular field right now, don’t worry. Something will emerge.