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For the last two decades, Greater Center City has been the fastest growing residential section of both Philadelphia and the entire region. After a temporary dip in population, the number of downtown residents on sidewalks in Center City had rebounded to 2019 levels by the end of 2021. Rents and home sale prices held up and the number of newly-permitted residential units in both Center City and citywide reached the highest point in decades in 2021.
Pedestrian activity in Center City has continued its gradual two-year upward trend, buoyed by a substantial ongoing increase in downtown residents as well as the return of visitors and a slower but notable return of office workers, according to this new report from CCD/CPDC.
As Philadelphia marks the two-year anniversary of the mandated citywide COVID-19 shutdown on March 16, 2020, Center City continues to show promising signs of recovery, buoyed by rising numbers of pedestrians who are supporting increases in retail and restaurant sales, local tax revenue, new store openings and downtown vibrancy.
A private tour hosted by CPDC on May 8 provided members a behind-the-scenes look at three new luxury apartment developments along Spring Garden Street.
Nearly two years after Philadelphia offices were ordered to close as the first COVID-19 cases were detected, and more than a year after vaccinations got underway, Center City and University City companies are continuing to adapt and remain flexible, while strongly valuing the importance of in-office work and a downtown presence, according to a CCD survey. CCD distributed a survey to employers to gauge their current stance on in-office and remote work, their plans for the first quarter of 2022, and factors they were weighing in making workplace decisions.
Recovery in Center City is gaining momentum. Workers are returning to offices; transit ridership and hotel occupancy are rebounding; arts and cultural institutions are welcoming audiences. The State of Center City 2022 tracks trends by industry.