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Center City’s commercial core is experiencing a sustained process of recovery, with new businesses opening and existing retailers moving to new, often larger locations, according to the just-released CCD/CPDC Center City Retail Update. In the first quarter of 2022, taxable retail sales in the core of Center City reached 94% of 2019 levels and restaurant sales reached 74% of 2019 levels.
The total number of workers, residents and visitors in Center City continued to rise in October 2023 to 82% of October 2019 levels, with the largest increases among workers and residents. Overall, the upward trend in pedestrian volumes for the last three and a half years is showing no signs of having reached any plateau.
Beginning Wednesday, June 4 and continuing every Wednesday through August 27, dozens of bars and restaurants will take part in Philadelphia’s favorite happy hour tradition by offering exclusive discounts found only in Center City.
Center City retail and restaurants have almost fully rebounded from the events and challenges of 2020.
A new CCD/CPDC report, Center City Pedestrian Counts, November 2022, documents that pedestrian volumes in October 2022 in the commercial core reached 77% of the October 2019 level, showing steady growth throughout 2022. The rate of increase has been greatest in the commercial office district and the successful return of major conventions is clearly visible in the volume recorded by CCD sensors at 12th and Market Street.