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The vitality and economies of U.S. downtowns have steadily improved since 2020. This major new CCD/CPDC report measures the recovery rates of 26 U.S. downtowns since then using various metrics, including employment, hotel occupancy, retail sales, and housing prices and rents.
Center City continued to show promising signs of recovery throughout the summer months, buoyed by returning conventions and office workers and increasing numbers of pedestrians who are contributing to rising retail and restaurant sales, local tax revenue, new business openings and increases in convention travel and hotel occupancy.
Philadelphia’s largest employment center and fastest growing residential section is showing unprecedented signs of growth and new investment, according to the newly released State of Center City, 2016, produced by the Center City District (CCD) and Central Philadelphia Development Corporation (CPDC).
This edition of the CCD and CPDC quarterly newsletter includes: CCD President, Paul R. Levy's cover essay making the case for returning to work; CCD 2021 Budget Details; profiles of our essential on-street workers, Summer Park Events, New communications campaigns and CCD/CPDC Reports; How you can support downtown’s recovery.
This new CCD/CPDC report examines the current state of the downtown restaurant and retail sectors. Using pedestrian, transit and parking occupancy counts and detailed visual surveys of almost 2,000 retail premises, conducted by CCD staff, the report provides a close-up look at business conditions, supplemented with information from the commercial office sector, employment trends, housing market data and ecommerce trends.
Center City Philadelphia holds 43% of all jobs citywide with a workforce from every neighborhood in the city, with more than 100,000 being employed in the office district. This spring and summer, Center City District (CCD) will celebrate and support Center City in-office employees by hosting free, outdoor events on West Market and JFK Boulevard.