From the transformation of Market Street’s former department store corridor, to the completion of the tallest building in the Philadelphia skyline, to the expansion of housing development throughout all of Greater Center City, 16.1 million square feet of construction has just been completed, is underway or is the planning stage downtown.
Building upon a decade-long, sustained national economic expansion, development of all types, including five public space projects, new hotels, education and cultural developments, are occurring simultaneously across Center City.
As highlighted in our annual Center City Developments real estate report, 23 development projects totaling $2.8 billion were completed in Center City between Fairmount and Washington avenues, river to river, in the period from January 1, 2018 to August 31, 2019. Eighteen projects totaling $3 billion in new investment were under construction as of September 1, 2019. Another 21 projects with a total estimated development value of $1 billion are in the planning or proposal phase.
Center City Developments (available to download here) is a detailed compilation of 62 major projects in Center City. The publication includes images and information on projects with an estimated development value of $6.8 billion.
For the first time this year, we’ve made available a digital interactive companion to this publication: a searchable, online map that features all of the information found within the printed publication. It will be continually updated as Center City projects are announced, modified and completed.