Adobe Stock/Roland Nagy

While New York City, Chicago and Boston have all long been considered large economic hubs with ample employment opportunities, other U.S. cities are rapidly emerging as new economic powerhouses. A new Urban Land Institute reports says the following neighborhoods are well-located, but have underutilized land that could be used for residential, office, retail, and public space development. The areas have also seen growth in population, employment, and income. Check out some of the places below.

Located six miles south of Downtown Charlotte, North Carolina, SouthPark is transforming from a suburban town to a growing urban center. SouthPark is now becoming increasingly urban and walkable as well. The area is in the midst of several construction and redevelopment projects — which may affect the surrounding areas. As The Charlotte Observer notes, the influx of thousands of apartments to SouthPark is causing some residents to worry about an uptick in congestion.

Just south of Capitol Hill in Washington DC, the Capitol Riverfront has attracted more than 7,000 residents as well as millions of visitors in the past decade. Modern buildings have replaced many former industrial buildings and parking lots in Capitol Riverfront, according to ULI. Today, 3,400 residential units and 500,000 square feet of office are under construction in this business district, which is expected to quadruple its residential population by the time everything builds out.

Read more emerging economic powerhouses at Business Insider.

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