Center City District and the Central Philadelphia Development Corporation released the 2026 State of Center City report, affirming Center City’s role as the heart of commerce, culture, and connection for the region.
Here are 10 facts pulled from this year’s report.
Stateside Vodka relocated its corporate headquarters from the suburbs to Market East; Bonduelle Americas established a growth hub at 2400 Market, next door to Eli Lilly’s new Gateway Labs at 2300 Market; and Chubb opened its new headquarters at 20th and Arch, where its workforce is expected to grow beyond previous levels. The common thread: these companies want to be where talent is plentiful, commuting is multimodal, and the neighborhood outside the office window is dynamic enough to attract and retain the best people.
The office district isn’t just for offices anymore.
Yes, companies are choosing Center City, but so are their employees. Office-to-residential conversions are accelerating, with apartment vacancy in the single digits amid sustained demand for downtown living. Around 2 million square feet of office space—5% of Center City’s inventory—is slated for new life as apartments, hotel rooms, or retail. This includes Centre Square and The Wanamaker, two of the largest downtown buildings. Adding thousands of residents in and near the office district will drive demand for more restaurants and retail, transforming a historically 9-to-5 district.
Several former University of the Arts buildings are undergoing redevelopment, including Terra Hall, purchased by Temple University. When completed, Terra Hall will serve more than 2,000 students, including many enrolled in Temple’s art, music, and dance programs. This is one of nearly two dozen projects underway in Greater Center City. In 2025, 21 major projects were completed and 19 are in the proposal stage representing $2 billion in new investment.
In an interview with People magazine, he says, “It makes it easy to go get food or do whatever you want from living right there in Center City.” He’s not the only one who feels that way. One in eight Philadelphians call Greater Center City home and the population continues to grow. According to Placer, Greater Center City’s population grew by 3.3% in 2025.
Michelin is here! Now we can stop talking about cheesesteaks ... right?
The Michelin man came to Philadelphia and awarded two Center City restaurants with a Michelin star, three additional restaurants received a Bib Gourmand, and several others received recognition. Alongside another year of acclaim from James Beard and national culinary publications, the arrival of Michelin cements the city’s role as a gastronomic destination.
The newest (and much anticipated) cultural institution, Calder Gardens opened on Benjamin Franklin Parkway in 2025. The building was designed as a contemplative space with lush gardens for moments of reflection. The museum features the work of Alexander Calder, known for his iconic mobiles and stabiles. Calder Gardens has welcomed over 65,000 visitors since opening in September 2025.
Bethenny Frankel says our Four Seasons is the best hotel in the world.
The Michelin man came to Philadelphia and awarded two Center City restaurants with a Michelin star, three additional restaurants received a Bib Gourmand, and several others received recognition. Alongside another year of acclaim from James Beard and national culinary publications, the arrival of Michelin cements the city’s role as a gastronomic destination.
Dilworth Park welcomed a record 12.9 million visitors last year, making it one of Philadelphia’s busiest and most beloved public spaces. And in March, the park gained a special guest: a one-year-old red-tailed hawk that landed injured and couldn’t return to the treetops. CCD staff came to the rescue, and the Schuylkill Center for Environmental Education’s wildlife clinic nursed the hawk—nicknamed Dilworth—back to health before releasing him into Fairmount Park.
Nearly 3.3 million people across the Greater Philadelphia area have nearby access to a one-seat transit ride that takes them in and out of Center City. During the summer season, riders can hop on a NJ Transit bus from Center City directly to Atlantic City, Wildwood, Asbury Park and Cape May, among others. Closer to home, SEPTA and PATCO connect Center City to countless summertime destinations, from Franklin Square and Spruce Street Harbor Park to the Southeast Asian Market at FDR Park and the Fan Fest at Lemon Hill.
A newly completed stretch of the Schuylkill River Trail extension is helping connect neighborhoods south and west of Center City to the broader trail network. The 650-foot Christian-to-Crescent Bridge carries cyclists and pedestrians out over the river, links directly to Grays Ferry and surrounding trail connections, and sets the stage for future expansion south to Bartram’s Garden.
Read more about the State of Center City here: https://centercityphila.org/research-reports/state-of-center-city-2026
