Most of us who
live in Philadelphia will commonly refer to our downtown as Center City
but a new report released by the Center City District shows that it not
exactly the center of the city. Every major city in the country has a
define center of the city where it dominates in terms of economic
activity. Philadelphia along with New York have two centers of economic
activity. Center City and University City, which is also rapidly
growing. The report also found that our Center City has more commercial
residents in it then most commercial districts, the only two commercial
districts with more are Midtown Manhattan and Downtown Manhattan. Most
of the census gather for the report are based on employment data from
231 major employment centers in the countries 150 largest cities. The
report suggest that this is a better indicator of a city’s “downtown” so
according to this report Philadelphia has two major centers, Center
City with 288,227 jobs and University City 79,368 and with a lot of
activities growing in the area. Projects such as the new CHOP Building
that will be breaking ground soon that will look to help stabilize the
Schuylkill Riverside as well as other projects such as the $110 million
dollar high rise rental effort called 3601 Market. Such projects are
proof that University City has become a vibrant economic hub and
neighborhood.
As far a Center City is concerned, it will also be getting
a major boost in the next few years as Comcast's sister tower the
Comcast Innovation and Technology Center will be raised. It will
certainty give the Center City economy a boost providing short term and
long term job stability. An enormous state of the art office space tower
that will help boost the Center City economy even more and keep our
local creative talents that graduate from Penn University and Drexel
from relocating to California and New York. Center City also ranks third
only behind again Midtown Manhattan and Downtown Manhattan with
residents that lie with in the commercial district. There are 57,239
residents living between Vine and South Street, river to river. Center
City ranks fourth in terms of the number of residents that live within a
mile of the commercial downtown (170,467 residents), Center City also
ranks 10 in the nation in both total downtown jobs (288,227) and the
residents who work downtown (40.7%). Philadelphia has seen a growth in
population, where working professionals have migrated back to the city or
the surrounding neighborhoods over the last decade. It has become a
mecca of entertainment for artist, nightlife and the restaurant scene.
The residential population in the downtown area has grown by 16.3% from
2000 - 2010 and the area with in half a mile from Center City has grown
by 16.2%. These are all positive notes that has Philadelphia trending in
the right direction. This report is proof that Center City life is
booming and will continue to see more growth with new high rises coming
soon and many more building planning begin to take shape.
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