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State of Center City Philadelphia 2014 State of Center City Philadelphia 2014

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State of Center City Philadelphia 2014 State of Center City Philadelphia 2014 Center City District & Central Philadelphia Development Corporation STATE OF CENTER CITY PHILADELPHIA 2014 STATE OF CENTER CITY PHILADELPHIA 2014 Center City District & Central Philadelphia Development Corporation CONTENTS FOREWORD 05 THE BIG PICTURE 06 OFFICE 10 HEALTHCARE & EDUCATION 16 CONVENTIONS, TOURISM, & HotELS 22 ARTS, CULTURE, & CIVIC LIFE 28 RETAIL 32 EMPLOYMENT 38 TRANSPORTATION & ACCESS 46 SUSTAINABILITY 50 DOWNTOWN LIVING 54 CENTER CITY DISTRICT 62 DEVElopMENTS 70 ACKNOWLEDGEMENTS 74 CENTER CITY BOUNDARIES Greater Center City GIRARD AVE Extended 19130 19123 Center City SC H UYLKILL Center City RIVER District Boundaries VINE ST 19102 Core 5,849 Center City 19103 19107 19106 IVER R 19102 ARE W DELA PINE ST Philadelphia Pennsylvania 19146 19147 Extended New Jersey Center City TASKER ST BROAD ST 4 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org FOREWORD The State of Center City, 2014 offers a comprehensive of Research & Analysis, designed by Abigail Saggi, Graphic overview of Philadelphia’s thriving, mixed-use downtown that Designer, with project team members including: concentrates 41 million square feet of office space, scores of start-up firms, 11 colleges, universities, and medical schools, Casandra Dominguez, Manager of Business three major hospitals, 11,326 hotel rooms, 409 arts and Retention & Retail Attraction cultural institutions, 3,217 retail premises, 458 full-service Linda Harris, Director of Communications & Publications restaurants, 327 outdoor cafés, and almost 180,000 residents David Kanthor, Manager of Transportation & Public Spaces in a dense, architecturally-rich, and walkable 17th century Bonnie Thompson, Director of Web Development street-grid. & Interactive Marketing Richard Way, Research Assistant Center City provides more than 288,000 jobs, ranging from RJ White, Manager of Interactive Marketing high-skilled, high-wage positions, to mid-level roles, with 30% of Center City jobs held by workers who possess no more The entire document, as well as individual sections, can be than a high school diploma. Another 33,500 sole proprietors downloaded at www.CenterCityPhila.org. and partners in professional services firms conduct business in the largest employment hub in the region. Each day more than 100,000 workers commute from the immediately adjacent suburbs into Center City, while more than 141,000 city residents, 25% of employed residents from every section of Philadelphia, also work downtown. Paul R. Levy This report provides an in-depth look at the diverse sectors President & CEO that reinforce each other, creating a critical mass that fosters innovation, attracts research dollars, and draws new workers, residents, and investors to Center City. Each chapter provides both previously released, industry-specific data provided by others, as well as offering a significant amount of original research, surveys, pedestrian counts, and analyses performed by our staff, particularly focused on employment, housing, and retail trends. The report compares Center City trends to regional patterns and benchmarks Philadelphia against other East Coast peers as a way of documenting our extraordinary success while highlighting the challenges we still must overcome. The next-to-last chapter serves as an annual report on the accomplishments of the Center City District, highlighting the effectiveness of our on-street programs, the positive results from our $105 million cumulative investment in streetscape enhancements, and our expanding role creating and managing quality parks and public spaces. The final chapter documents the $4.7 billion that is being invested or is planned for major developments between Vine and Spring Garden Streets; it features a new developments map and provides a link to an on-line project fact sheet that will be updated throughout the year. With the completion of Dilworth Plaza in September 2014, Center This project is a major, multi-month group effort by the staff City District’s cumulative capital investment in public area of the Center City District, led by Lauren Gilchrist, Manager improvements since 1997 will exceed $125 million. Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 5 THE BIG PIcturE 6 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org GREatER CENTER City, THE AREA BETWEEN GIRARD AVENUE AND TASKER StrEET, RIVER to RIVER, HOLDS 288,493 wagE AND Salary JOBS (A 3.25% INCREASE OVER 2012), accounting for 43.3% OF ALL JOBS IN PHILADELPHIA. AnothER 33,500 SOLE propriEtorS AND partnERS IN law, accounting, AND othER profESSIONAL SERVICES FIRMS conduct BUSINESS WITHIN THIS AREA. Downtown firms and institutions hold the largest regional Center City sits at the center of a transit network that carried cluster of high-wage jobs, generating significant purchasing 305,000 passengers each weekday in 2013. More than 4.1 power for retailers and tax revenues for the City. But million passengers passed through Amtrak’s 30th Street downtown creates opportunity for everyone: 30% of Center Station, while more than 30 million passengers departed and City jobs are held by workers who possess no more than a arrived through Philadelphia International Airport. Greater high school diploma; another 29% are held by those with Center City’s bike-friendly topography and expanding bike- associate’s degrees. On average, 25% of employed residents lane network has attracted large numbers of cyclists in from every section of Philadelphia work downtown. recent years. Philadelphia’s 2.3% bicycle-commuter rate in 2012 ranked first among the nation’s 10 largest cities, higher Located midway on the Amtrak corridor between Washington, than New York City’s and Chicago’s. Bicycle traffic over the D.C. and New York City, Center City has diversified in the Schuylkill River bridges during peak hours increased 13.6% last two decades into a 24-hour downtown. Compact and from 2012 to 2013. walkable, its sidewalks are animated by hotels, housing, cultural institutions, dining, and retail attractions. Greater Center City ranks second only to Manhattan in population among U.S. downtowns. The number of residents More than 400 arts and cultural organizations are located in increased 13% between 2000 and 2013 to 178,316 and is Greater Center City, 65% more than in 1996. Major historic continuing to expand. Developers brought 2,091 residential and cultural destinations, such as Independence National units to market in 2013, the most units since the CCD began Historical Park, attracted 9.58 million visitors in 2013, while tracking the data in 1998. the Academy of Natural Sciences of Drexel University on the Benjamin Franklin Parkway saw attendance increase by 21% Adding to a broad range of parks and public spaces, between 2012 and 2013. But institutions of all sizes continue the Center City District will complete the $55 million to present a broad range of artistic styles and performances, transformation of Dilworth Plaza in fall 2014. On the west side attracting visitors from across the region and around the world. of City Hall, a new green and sustainable park will provide a distinctive public gathering space and an attractive and more Downtown’s dining and food options continue to expand, with accommodating entrance to the transit system below. nearly 1,000 restaurants, eateries, and bars. 327 outdoor cafes enliven the sidewalks well into the evening hours. With more competitive tax policies, Philadelphia will Boutique, independent, and national retailers continue encourage the expansion of existing downtown firms, attract to locate along Center City’s most popular shopping new firms, and retain innovative startups. With improved corridors and are expanding onto secondary streets and into public education, the city will benefit from a more qualified neighborhood settings. workforce and a more rapidly growing citywide population. Center City District & Central Philadelphia DevelopmentDevelopment Corporation www.CenterCityPhila.org 7 THE BIG PIcturE CENTER CIty KEY FActs GREATER GrCEeaterNTER CenterCIty POPU CityLA PopulationTION 200,000 Greater Center City Wage Total: 178,316 & Salary Employment 180,000 Total: 173,284 Total: 157,782 Private Sector 227,136 160,000 u u Public Sector 61,357 140,000 ea ea e Total Wage & Salary Jobs 288,493 120,000 107,927 114,402 116,419 Total Wage & Salary Workforce 271,703 100,000 Small Businesses 15,972 80,000 60,000 Working & Living in Center City 40,000 49,855 58,882 61,896 : Office Square Footage 40.7M 20,000 ce tal Population Sour 2000: 2000 Census, U.S. Census Bur 2010: 2010 Census, U.S. Census Bur 2013: Center City District Estimat Office Occupancy 86% To 0 Hotel Rooms 11,326 2000 2010 2013 Hotel Room Occupancy 73.8% Core Extended Average Daily Hotel Rate $169.49 25 & Older with a bachlors Degree Retail Premises 3,217 25 & OLDER WITH A BACHELOR’S DEGREE OR MORE Retail Occupancy 87.7% Colleges & Universities 11 80% 75.4% Hospitals 5 73.4% , 67.8% Arts & Cultural Organizations 409 70% u u ea ea Annual Philadelphia 60% 30,504,112 International Airport Passengers 50% 113,994 45.3% 116,021 Annual Amtrak 30th Street 39.2% 4,125,503 eau Station Passengers 40% 28.5% 30% 27.9% Average Weekday Center City 24.4% 23.7% 22.2% 305,030 23.2% Transit Ridership (All Modes) 17.8% 20% Average Home Sales Price $402,084 : 10% ce Average One-Bedroom $1,683 Sour 2000: 2000 Census, U.S. Census Bur 2010: 2010 Census, U.S. Census Bur 2012: 2008-2012 American Community Survey 5-year Estimates U.S. Census Bur Apartment Rent 0% 2000 2010 2012 Greater Center City People Core Extended Philadelphia U.S. Children Born 2000-2013 26,581 25 & Older with a Graduate Degree College Students 34,795 25 & OLDER WITH A GRADUATE DEGREE Households with 10,731 Children Under 18 45% 43.2% Core Center City Population 61,896 40.9% , Extended Center City Population 116,419 40% 38.5% u u Greater Center City Population 178,316 35% ea ea 30% 25% 21.6% eau 20% 18.3% 15% 10.6% 9.8% 10.3% 10.2% 9.3% 8.9% 10% 7.5% : 5% ce Community Survey 5-year Estimates U.S.
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