Center City Leaders Prioritize Residential Growth Amid Office Slowdown

Since 2021, over 7,000 new residential units have been built in Center City, transforming its daily population over the past five years. The shift has been from office workers to a growing residential population.

This change has led to weekend foot traffic matching 2019 levels, while weekday traffic in the central business district has declined significantly.

Center City sees roughly 375,000 people each day, equating to foot traffic at 84% of 2019 levels. However, the distribution of pedestrians varies depending on who and where they are.

*Article courtesy of Philadelphia Business Journal

For more information about New Jersey, Pennsylvania or New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com. WCRE, is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage firm that specializes in healthcare, office, retail, land, industrial, and investment properties.

WCRE is a full-service CORFAC International brokerage, and advisory firm that provides a full range commercial real estate listings, services and property management services for landlords, owners, investors, tenants and more.

As experts in tri-state region, the WCRE team provides ongoing detailed information about commercial properties to our clients and prospects to help them achieve their commercial real estate goals.