Center City Philadelphia Developments 2015–2019
CENTER CITY PHILADELPHIA DEVELOPMENTS 2015–2019 CENTER CITY DISTRICT AND CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION INTRODUCTION 2 DEVELOPMENTS MAP 4 COMMERCIAL/MIXED-USE 6 CULTURAL 10 GOVERNMENT & NON-PROFIT INSTITUTIONS 11 HEALTHCARE & EDUCATION 12 HOSPITALITY 13 PUBLIC SPACE 17 RESIDENTIAL 20 RESIDENTIAL/MIXED-USE 25 RETAIL 43 ACKNOWLEDGMENTS 44 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG INTRODUCTION Construction cranes are visible everywhere. Eleven major Since 2000, Center City’s population has increased 17%, as development projects, totaling almost $200 million, were com- millennials, empty-nesters, and families with children have pleted in 2015 between Fairmount and Washington Avenues, chosen to live near work and a broad range of dining, cultural, river to river. Another 42 projects of all types, totaling $5.2 and entertainment offerings. Currently, 4,185 units are under billion in new investment were under construction at the end of construction and scheduled for completion by 2018. Several December 2015, while 29 more, totaling $3 billion, have been thousand more units have been announced. announced. The combined effect of a growing residential population, in- Residential developments are setting the pace. Half of the creasing overnight visitation and steady job growth has spurred 82 projects counted in this report are residential/mixed-use; several large-scale retail projects, such as National Real Estate another 11 are strictly residential. Remaining projects include Development’s East Market project, scheduled for completion in hotels, commercial/mixed-use, public space improvements, 2017, and PREIT and Macerich’s redevelopment of The Gallery, retail, healthcare and education, government and non-profit, scheduled for completion in 2018.
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