In 2016, a record number of new residential units were brought to market for a growing downtown population, with 2,506 new units delivered in Greater Center City, a 15.5% increase over the previous high of 2,168.
Center City is benefitting from a national trend of shifting away from home ownership toward rentals, while shrinking household size also fuels demand for apartments. Density, walkability and convenient access to restaurants, retail, culture, and medical care are appealing to all ages and, particularly, to young adults and empty nesters.
Join Paul Levy, chief executive of Philadelphia’s Center City District (CCD), for a presentation on the 2017 Housing Report: Building on Optimism, published by CCD and the Central Philadelphia Development Corporation in February.