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State of Center City, Philadelphia

The Center City District and Central Philadelphia Development Corporation recently published a report called: State of Center City 2016. The objective was to measure the progress being made in Philadelphia’s downtown. 

I moved out of Center City (Rittenhouse Square) in 2009, but I still like to follow what’s happening. I really enjoyed my time in Philly. In fact, I remember missing its immensely walkable downtown after I returned to Toronto and touched down in the suburbs briefly before moving back downtown.

If you take a look at the report, one of the first things you’ll probably notice is the concentration of jobs and the concentration of knowledge works (with advanced degrees) in the Center City area. We are seeing this shift in so many cities around the world.

Here are a few graphics (all of which are from the report):

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Part of the reason for this is that Center City is anchored by a number of fantastic Universities. This is critical for cities, today.

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To end this post, I thought I would post the below comparison of average office rents in major CBDs across the US. I always find these charts interesting, even though the usual suspects are up at the top.

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I hope you’re all having a great holiday weekend.

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