Center City’s commercial core is experiencing a sustained process of recovery, with new businesses opening and existing retailers moving to new, often larger locations, according to the Center City District/Central Philadelphia Development Corporation Center City Retail Update. In the first quarter of 2022, taxable retail sales in the core of Center City reached 94% of 2019 levels and restaurant sales reached 74% of 2019 levels.
Retail occupancy and pedestrian vitality continues to rebound from 2020’s profound disruptions, supported by:
“The diverse mix of downtown land-use has sustained the steady presence of pedestrians on sidewalks, day and night: residents, workers, students, visitors, shoppers, residents and hotel guests,” CCD President Paul R. Levy said. “The combined, average daily volume of pedestrians in Center City reached 346,833 by mid-June, 84% of pre-pandemic levels, and the largest volumes since 2019.”
Combining CCD’s on-street surveys, conversations with brokers and retailers, and state sales tax data, this nine-page report includes the following key findings:
“The retail and restaurant recovery is strong throughout Greater Center City, with many of the neighborhoods adjacent to the core, that had relied on strong, three-day per week demand, now benefitting from seven-day per week demand from those staying at home,” Levy said. “As more workers and visitors return to the downtown core, the more restaurant and retail jobs will be restored.”
For more details, including a map with locations of new and upcoming business openings, download Center City Retail Update, June 2022.
July 4, 2022 | Retail isn’t only part of Center City's rebound from COVID-19: Report, KYW Newsradio
July 2, 2022 | Retail sales and shoppers return to Center City as office workers stay home, Philly Voice
July 1, 2022 | Business count in Center City hits highest level since pre-pandemic, still waiting on office workers to return, Philadelphia Business Journal
July 1, 2022 | Center City’s shoppers and diners are back — almost to pre-pandemic levels, The Philadelphia Inquirer
July 1, 2022 | Folks are (mostly) back in Center City, Axios Philadelphia
June 30, 2022 | Center City closing in on pandemic recovery, report finds, Metro Philadelphia
June 30, 2022 | Center City businesses are rebounding from pandemic, report finds, WHYY
June 30, 2022 | Center City District Making Comeback More Than 2 Years After COVID-19 Pandemic Began: Report, CBS3 Philly
June 30, 2022 | Center City businesses are rebounding from pandemic, report finds, The Philadelphia Tribune
June 30, 2022 | New retail report expected to show comeback in Center City Philadelphia, 6ABC