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This annual housing report examines Center City Philadelphia's residential sector momentum and 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.

This Center City District/Central Philadelphia Development Corp. annual housing report reveals unprecedented growth in Greater Center City's residential sector, with residential development reaching a 5-year high in 2024, according to new CCD research.

This new CCD/CPDC report documents that in September 2022 overall pedestrian volumes reached 75% of pre-pandemic levels compared to September 2019, with residents, shoppers and visitors at significantly higher levels. These findings are from both CCD’s pedestrian counters at multiple locations downtown and from anonymized cell phone data.

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.

Center City's retail occupancy rates, pedestrian volumes, retail sales and jobs are continuing to rise and are approaching levels last seen in 2019, according to Center City Retail Report, November 2023.

Sustained by a diversified retail customer base that includes the third largest downtown population in the U.S., workers, tourists, and regional visitors, Center City Philadelphia is on pace for the second consecutive year of positive net openings, according to the new Center City District/Central Philadelphia Development Corporation Center City Retail, November 2022.