NEWS"Philadelphia is a very, very important part of the eastern seaboard. So not only are we happy to be here but we're part of a very, very dynamic city that is on the move."
Senior VP, Macy's
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November 29 , 2010
Center City Retains Retail Vibrancy
Report: Center City Reports: Retail | 2010 | 6 pgs | Free | PDF (727 KB)
(November 29, 2010) -- The Center City District (CCD) has released 2010 Center City Reports: Retail, its annual assessment of the downtown retail market. Its key finding: Center City Philadelphia's retail market has shown remarkable resiliency, led by real growth in the number of food-related businesses.
Center City's verve is due in part to its diversified, 24-hour downtown and multiple sources of retail demand. Residents, office workers, round-the-clock medical workers, convention goers, tourists, visitors to arts and cultural institutions plus regional patrons of the many destination restaurants keep Center City energetic and busy throughout the day and night.
With a uniquely walkable downtown, Center City is home to a well-educated and growing population and is the third-largest residential downtown in the country. Center City's strength as a regional, national and international destination derives from its unique combination of history, culture and commerce. The combined annual purchasing power of the workers, residents, students and visitors located within one mile of Center City's iconic City Hall is $491.5 million.
Despite the economic downturn, national chains such as Esprit, Apple and The North Face have opened stores in Center City in the last year. The optimism for retail is evident in the 48 new food-related businesses that have opened in just a single year in Center City.
As a retail market, Center City presents shoppers, residents, workers and tourists with a vast array of options for their every need. We are pleased to present our 2010 Center City Reports: Retail. To read the entire report, please visit our website at: www.centercityphila.org.
The Center City District, a private-sector sponsored business improvement district dedicated to making Center City Philadelphia clean, safe and attractive, is committed to maintaining Center City's competitive edge as a regional employment center, a quality place to live, and a premier regional destination for dining, shopping and cultural attractions.