Center City has seen a slight rise in retail occupancy and foot traffic this year despite several high-profile closures along Market Street, though the performance has varied significantly across different retail corridors, writes Erin McCarthy for The Philadelphia Inquirer.
According to the Center City District’s annual survey of business owners, as of October, approximately 84 percent of Center City storefronts were filled, which was a one percent increase from the previous year. Occupancy has held steady since 2023, but still below the 89 percent seen before the pandemic in 2019.
Daily foot traffic in Center City has grown by over three percent this year to 343,540 pedestrians, with all retail corridors seeing an uptick.
However, some retail corridors are performing better than others. Market Street continues to struggle, with Market West at just 62 percent occupancy, the lowest in Center City, and Market East at 72 percent.
On Chestnut Street, the eastern side recorded 71 percent occupancy last month, compared with 81 percent on the western side. Walnut Street remains the standout, with 86 percent occupancy in both sections.
The report also highlighted the continued success of the Open Streets Program, which transforms roads into pedestrian walkways for shopping and dining by temporarily closing them to car traffic.
Read more about how Center City retail is doing in The Philadelphia Inquirer.
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