12. Built a new office district beginning in 1960s
13. Capitalizing on legacy of a regional transit system
310,000 riders/day take transit into downtown
Provides employers easy access to 360 degree labor market
14. In the last 25 years, we diversified downtown
through investments in arts & entertainment
88. 1996 CCD study: Turning on the Lights Upstairs
4.5 million sf. vacant Class “C” office space
1997: 10 year tax abatement: citywide
• Retained architect &
developer to evaluate
buildings
• Survey to determine best
buildings; floor layout,
window size & exposure
• Detailed economic analysis
of 10 buildings: evaluation
for code compliance, cost-
estimate, pro-formas.
89. Significant growth in downtown housing: 1998–2018:
180 buildings converted to residential use
102. This age cohort nationally
is currently tending to live
alone, marry later, have
smaller families and delay
homeownership.
They constitute a major
source of demand for
downtown’s surging rental
supply.
But the millennial peak is
particularly pronounced in
cities & the drop-off behind
them is more dramatic than
in the nation or
surrounding region
Caution: Millennials aren’t forever
107. In today’s Center City, if you don’t trip over a
sidewalk café you’ll get run over by a stroller
108. We’ve partnered with our public schools
& parents groups to promote downtown schools
Resident& worker retention
109. 75% of children living in Greater Center City
Attend one of 19 elementary public schools between Girard & Tasker
67% attend their catchment area
(neighborhood) school
110. Increase emphasis on public amenities
CCD 3.0: 2008 Improving public spaces: Cret Park
”
158. 5
9 Disparities in labor participation rates:
While 90% Center City’s adults are engaged in the workforce
Drops to 49% in North Philadelphia & 59% in Lower Northeast
159. We focus extensively on the role of downtown’s
310,000 jobs in the city’s overall economy
160. 6
1 Office sector: 40% of employment, 130,000 jobs
Average wage = $91,300.year
161. Every 500,000 square feet of
occupied office space:
Provides 3,333 jobs +
5 building engineers
18 cleaners/janitors
12 security positions.
Every time tenants turn
over, construction trades
renovate space.
Supports 11,000 hotel
rooms filled with business
travelers.
Generates $2.8 million in
retail demand.
163. 6
4 Center City holds 14 colleges & universities,
5 hospitals & medical schools
Average wage = $60,000
Many technical & service jobs
164. Each year colleges import huge crop of 18 year-olds
Source of housing & retail demand
165. Higher education institutions conferred
29,059 degrees in 2018
28% in health care
21% STEM (science, technology, engineering, math)
18% in business
166. Provide a huge pool of skilled labor
Attractive to employers: talent advantage
175. $6.2 billion in new development just completed or concluding
New Comcast & Aramark buildings; 1,923 hotel rooms,
3,017 housing units under construction
180. Focusing on amenities for 21st century workforce
In live-work & walkable downtown is key to competiveness
181. We live an urban moment that we should not waste
We must invest in our neighborhoods
But downtown job growth drives the city & region’s economy
Paul R. Levy
Center City District
www.centercityphila.org