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Downtown Rebounds examines the cumulative effects of three decades of growth, the rebound from 2020 and its impact on housing markets, new and upcoming residential developments and homeownership trends, and the status of the rental market.
Center City District (CCD) has retained a group of local artists to create a major display of new banners, currently being installed across Center City, to coincide with the partial reopening of businesses and the gradual return of workers and visitors to the downtown.
For two decades, the fastest growing residential section of Philadelphia has been Greater Center City. In 2022, the downtown rebound was built on decades of success: At just 5.8% of the city’s land area, Greater Center City accounted for 48% of the city’s total supply of new housing units.
This newly released Quarterly Market Update for Q1 2025, highlights the positive trends in Center City’s office market.