What is a Commercial Business District?
Theoretically it the commercial and business center of a city. These are known as financial districts. These are not only the central business unit of the region but also have a lot more to offer. Considering some of the oldest or Newest CBD’s across the world, these are the common characteristics that each of them shares:
Iconic Structures: Most of the CBDs across the world are now mostly defined by the iconic structure they possess. For example, the iconic infrastructure of Midtown, Grande Arch at La Defense. Cloud Gate at the Loop and the Merlion Park, Downtown, Singapore. To the common public, these places are not known as commercial districts but defined by these bespoke structures.
Public Open Spaces: All the CBDs have a lot of common open spaces, to ensure a greener and low-density environment. These also serve as a leisure and fitness spot for the internal stakeholders i.e. visitors or employees. For example, Midtown has Bryant Park, Waterfront in Downtown, Andre Malraux Park in La Defense, etc.
Distinguished Hospitality: The presence of boutique hotels in the CBD is prominent. The CBD provides an ecosystem and opportunity to thrive and access top-notch, less price-sensitive clients. The location also helps them to brand their properties well.
Experiential F&B and Retail: All the CBDs have the presence of experiential F&B and retail in their premises, to provide convenience to the employees and look out to the visitors.
Convention centers/Theatres: There is a lot of convention centers or public engaging spaces present in and around CBD to host world-class events, or for community engagement. For example, the loop in Chicago is famous for its iconic theatres and Rockefeller Centre.
Grade A supply: Lastly and most importantly, these have an abundant supply of offices to cater to the needs of the region and absorb high-end offices.
All in all, if all these factors are combined, a CBD provides a 9 AM to 9 PM experience. There is something for everyone to look upon. All the commercial developments around the world have to benchmark at least these criteria to stand out and be characterized as a Commercial Business District.
