Center City Philadelphia

Contact Information:
Linda K. Harris, Director of Communications
lharris@centercityphila.org
215.440.5546

CCD Presents 'State of Center City, 2011' on April 19

Center City is thriving, despite the recent economic downturn that has caused significant job loss and declining housing values in other cities, according to the "State of Center City, 2011," presented by Paul R. Levy, president and CEO of the Center City District.

The numbers behind this story are remarkable. The downtown population has grown by 27% in the last two decades. Two-thirds of the population has at least a college degree, substantially above national averages. Philadelphia's healthcare and educational institutions have continued to add jobs, attract more students and garner more research grants. Center City's hotel occupancy rates have held up extremely well, while office vacancy rates are significantly lower than in the suburbs, and city housing prices have retained their value better than any other city except Dallas.

"'State of Center City, 2011' not only highlights successes, it underscores continuing challenges and includes recommendations for infrastructure improvements that can enhance the city's competitiveness in the Northeast corridor," Levy said.

To view the report online, please go to centercityphila.org/socc/.

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The Center City District, a private-sector sponsored business improvement district dedicated to making Center City Philadelphia clean, safe and attractive, is committed to maintaining Center City’s competitive edge as a regional employment center, a quality place to live, and a premier regional destination for dining, shopping and cultural attractions.