Contact: 
JoAnn Loviglio 215.440.5546 
jloviglio@centercityphila.org 

For Immediate Release 

Greater Center City Philadelphia Sees Over $2.1B in Real Estate Development Activity

Mixed Use Development Continues as Downtown Diversifies

PHILADELPHIA (February 11, 2026) — Center City Philadelphia continues to demonstrate its robust growth trajectory with 64 major development projects either completed, under construction, or in planning stages. The just-released 2026 Center City Real Estate Development Report provides images and key details for these projects, which span from Girard Avenue to Tasker Street, river to river. 

"As this new report illustrates, Philadelphia’s value proposition as a place to live, work, and invest is increasingly self-evident," CCD President and CEO Prema Katari Gupta said. "With 21 projects completed in 2025 and 24 more under construction, Center City’s livability, walkability and appeal are fueling energy, optimism, and anchors for future growth and investment." 

The report notes that the $2.14 billion in major developments completed or under construction encompasses approximately 555,000 square feet of commercial space and nearly 355,000 square feet of residential space that includes 8,240 residential units. 

In addition to providing the most up-to-date documentation of currently proposed, under construction and recently completed projects, the report also notes five key development trends in Center City’s real estate landscape: 

Major Projects Restart After Lag: Following a construction boom and subsequent slowdown tied to Philadelphia's original tax abatement program, the city's development pipeline is gaining momentum in 2026. Major projects are proceeding with financing in place, including Harper Square, set to become the city's tallest rental building with $173 million in financing, and Post Brothers' Piazza Alta expansion. Combined with strengthening apartment absorption across Greater Center City, this signals healthy demand for high-quality residential development. 

Transformative Public Investments Reshape Landscape: Philadelphia is undergoing a dramatic physical transformation through fully funded infrastructure projects that will enhance connectivity and livability for generations. From the Delaware River Waterfront Corporation's historic capping of I-95 at Penn's Landing to the Market Street Bridge reconstruction and the Spring Garden connector's protected bike lanes, these public investments are knitting together neighborhoods and creating world-class public spaces. These investments will improve quality of life and connectivity across Center City even as other proposed projects remain in limbo due to funding uncertainty.  

Market East Poised for Change with Public-Private Partnerships: One of Center City's most important corridors is entering a new chapter as the city launches a comprehensive planning process alongside major private investments. The Wanamaker Building's transformation into a mixed-use destination with 622 residences and revitalized retail and office, combined with Harris Blitzer Sports Entertainment and Comcast's holdings positioning 900-1000 Market Street for development as early as 2027, signals Market East's emergence as a dynamic live-work-play district. 

West Market Evolves into Vibrant Mixed-Use Neighborhood: Philadelphia's office district is defying national trends by embracing residential conversion and mixed-use development, leveraging its unique advantages including surrounding walkable neighborhoods and extensive transit connectivity. Recent conversions at Three Parkway and 17 Market West kicked off the latest round of repositioning, with partial conversions now teed up at Ten Penn Center and 1880 JFK Blvd. , Combined with new retail amenities and the active marketing of major properties like Centre Square for adaptive reuse, the district is steadily transitioning into a dynamic urban environment. 

Avenue of the Arts Rebounds with Creative Reinvention: The Avenue of the Arts is experiencing a remarkable revival following the University of the Arts’ abrupt closure, with visionary developers transforming former campus buildings into new centers of creativity and commerce. Highlights include Temple University's Center City Campus at Terra Hall, Scout's ambitious Village of Industry and Art at Hamilton and Furness halls, and the Bellevue's evolution into luxury living complemented by high-end retail including Mr. Edison's restaurant and the Bathhouse spa concept. 

“From Market East to South Broad Street, from the office district to the Delaware River waterfront, there’s a sense of dynamism and confidence for the future of Center City’s beloved buildings and public spaces,” Gupta said. “In the coming year and beyond, we’re poised to welcome dozens of new projects and the people, businesses, and investors they bring.” 

The full 28-page report is available at centercityphila.org/developments. 

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Center City District, partner to property owners and downtown stakeholders, is the steward and advocate for a clean, safe and thriving Center City Philadelphia. Find us at www.centercityphila.org.