With more than $1 billion in developments, Philadelphia is enjoying a “residential boom,” notes a new Center City District report, according to a staff report from Metro Philadelphia.
The 2025 Center City Real Estate Development Report lists 66 major projects in Center City, including completed, ongoing, and planned developments.
“The scale and diversity of development activity we’re seeing demonstrates Center City’s successful evolution into a truly mixed-use downtown ecosystem,” said CCD President and CEO Prema Katari Gupta. “With 20 projects completed in 2024 and 33 more under construction, the transformation of our downtown continues at a remarkable pace.”
A key takeaway from the report is the effects of the residential boom, with 43 of 53 finished and ongoing projects with residential components. More than 3,000 units have already been completed, 4,000 are under construction, while 2,000 are in the proposal stage.
Also worth noting is the level of commercial growth, with over 805,000 square feet of new commercial space and more than 522,000 square feet of retail space in the downtown area.
An Interactive Developments Map available online shows which projects are complete, ongoing, or currently in the planning stage.
Read more about the report’s findings about the evolution of Center City in Metro Philadelphia.
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