City Residents Help Fuel Local Economy

The infusion of people into Center City over the past few years has had a cascading effect on surrounding neighborhoods, restaurants, retail and real estate. Last year alone, approximately 3,000 new housing units were completed. According to the Center City District, Center City has 88,000 residents, with another 235,000 working in the area and 25.5 million visitors in 2004. While the housing market has slowed recently, those who do purchase homes or condominiums in the city are demanding, and able to afford, the luxury of convenience. As a result, their presence continues to contribute to the entire economy of the Greater Philadelphia region.