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Discover Center City District’s guide to the regions must-see retail and dining district
The return to shopping and dining will be slow and gradual, influenced by how well and consistently businesses address public concerns about public health and safety, as well as the City of Philadelphia’s flexibility in encouraging the expanded use of public space to accommodate seating and waiting lines, according to results of a new CCD survey of Philadelphia residents.
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.
In 2018, 2,810 new housing units were completed in Greater Center City – the largest number since Center City District began tracking the market almost 20 years ago. Strong growth is continuing at the beginning of 2019 with 3,017 more housing units under construction in Greater Center City.
Jobs are back, salaries are rising, Center City’s population continues growing, conventions, tourism and retail are all rebounding, and pedestrian vitality is almost fully restored in many portions of the downtown. Office vacancy, however, is rising, challenged by a partial return to office and reinforced by a wage tax that encourages suburban residents to remain remote.