Part one of the press briefing for the Center City District's State of Center City, 2012 report, downtown Philadelphia’s “annual report” that looks at all aspects of the downtown economy and makes recommendations to enhance the attractiveness and competitiveness of Center City. Download or order a copy at http://centercityphila.org/socc/

1. State of Center City: 2012

2. Center City has been transformed into a
diverse live/work 24 hour downtown

3. Report documents many positive signs of growth

4. Highlights the challenges we still need to overcome

5. Definitions & boundaries

6. Center City accounts for
39% of all private sector jobs in Philadelphia

7. More than $12.3 billion developed in CC & UC since 2007

9. Largest center of employment in region
$12.1 billion salaries to metro residents

10. 143 x employment density of the suburbs

11. Density made possible by integrated regional transit system
295,539 riders/day take transit into downtown

12. 4th most concentrated CBD for private sector jobs

13. 3rd in total number private sector jobs downtown
Accessible by transit
as fuel costs rise

14. There are economic benefits of density

15. Density fosters innovation & creates opportunities

16. Density supports cultural institutions

17. Density supports retail & restaurants

18. Density reduces commuting costs

20. Commercial office buildings remain largest
source of employment downtown

21. Setting for our highest wage jobs

22. Downtown occupancy rates (88%)
held up better than suburbs

23. Philadelphia: #3 behind only Washington DC & NYC
holding occupancy levels thru recession
National trend

24. But office sector lagged behind the region over last decade,
losing small increments of jobs steadily since 2007

25. Same amount of occupied office space a
35 million squa

27. Philadelphia has a very high concentration
in education & health care employment

28. Philadelphia’s share is double national average
of 18% in education & health

29. Much higher than east coast peers

30. Education & health care job growth outperformed suburbs

31. Education & health care employment added jobs in
all but 6 of the last 60 months
Philadelphia’s primary buffer against recession

32. In Center City Eds & meds is 2nd largest sector

33. TJU Drexel, Penn & CHOP all expanding downtown

34. All three hospital systems
increasing number of patients treated

35. Successfully attracting research grants

36. Generating new products & technologies

37. Very strong concentration of college students
33,578 students downtown; 84,876 adjacent

38. 58% of seniors are “somewhat” to “very likely”
to stay after graduation
Campus Philly survey

40. Leisure & hospitality 3rd largest source of jobs

41. Last two decades: 95% increase in hotel rooms

42. Nearly all within 15 minute walk

43. Leisure & hospitality job growth outperformed suburbs

44. Average daily rate for Center City hotels
rebounding from Recession

45. Steady growth in domestic travel

46. Overseas visitation rebounding from recession

47. Airline passengers volumes up 88%
over last 20 years

48. #1 & #2 most visited destinations in the city

49. Prompting investment in new hotels
New Monaco Hotel: 5th & Chestnut Streets

50. Convention Center has doubled in size

51. Can handle more large conventions & tradeshows

52. Just broke ground; 246 Room: Hilton Home2Suites

54. Philadelphia needs another 700-800 room hotel
To maximize the investment made in expansion

55. Average daily rate needs to be significantly
higher to support new construction

57. Cultural institutions have continued to grow

58. 2nd behind only New York City
Number of Arts & Cultural organizations downtown

59. Both performing arts

60. & museums drawing hundreds of thousands visitors

61. Continued to reinvest & expand

62. The Barnes Foundation

63. Will open May 17th

64. Franklin institute is starting construction..

65. New expansion on south side

66. Cultural institution investments are substantial

68. Retail benefitted from diversification of downtown

69. 43% of expenditures of hotel guests
Spent outside hotel on shopping & dining
GPTMC

70. Hospitality & entertainment driven demand
Supplements office & residential demand

71. Retail has also benefitted from
rising residential incomes

72. 322% growth in fine dining
restaurants
274
65 in 1992

73. Continued growth of outdoor cafes: 273

74. Clothing & apparel stable despite recession

76. Since 1997 added 13,000 new units of housing

77. Housing production dropped dramatically
for condos & single family houses after 2008

78. Volume & velocity of sales are down;
Extended Center City is doing quite well: townhouses

79. Philadelphia NOT on this list, but it is a constraint

80. Demographics remain strong: Report on 2010 census

81. 10.2% increase in population since 2000
26% in core of downtown
Since 1990
8 Zip codes = 7.8 sq miles
5.7% of city’s land area
hold 12% = 181,003
Fastest growing
Most densely settled

82. Center City attracting more younger people than rest of city
41% of downtown: ages 25-44; city = 28%

83. Center City has more than twice the national average of
residents ages 25-34.

85. 74% commute to work without a car

86. Diversification of CBD land-use
25,000 residents now living inside CCD boundaries
25,000

87. Population continues to rise
Core = Vine to Pine; Extended = Girard to Tasker
Reversing 50 year trends & pushing city into positive population growth

88. Center City has 20x residential
density of suburbs

89. 2011 U.S. Census update

90. 2011 US Census update

91. Downtown & adjacent colleges &
universities help drive rental remand

92. As does our strong concentration of residents ages 25-34.

93. New rental units continue to come on-line

94. Rents continue to rise

95. Planned apartments are starting construction

96. Educational levels continue to rise
BA Degree Graduate Degree

97. These are the well-educated workers that employers want
Residents start to play a role in attracting business

98. Significant volumes of returning empty nesters
have driven up housing prices

99. Average residential sale price: 2.26 x citywide

100. Younger home-buyers are moving outward

101. Citywide 20% of residents work downtown
In core 40-50% downtown; 11.2% in University City

102. Extended neighborhoods rapidly approaching 40%

103. These outer areas greatest increase in bike & bus
commuting to work.

104. Sustainability is a core value for this demographic

105. Big opportunity: 20,553 children were born to Greater Center
City parents from 2000 to 2010

106. Parents groups now actively involved in plans
To improve playgrounds & schools

107. Household Income continues to rise

108. Average home sales price: steadily risen
+325% increase over 15 years
despite recessionary cycles