Let’s get some of the facts…
- Home building skyrocketed in 2024 with roughly 8000 homes built in Philadelphia; 44% of these homes (roughly 3,800, a 1000 homes more than in 2023) were located within Greater Center City; where one in eight residents now live.
- And a quarter of this building frenzy is happening in our “back yard” in zip code 19123. This area stretches from Callowhill Street to West Girard Avenue and from North Broad Street to the Delaware River.
- “Why were 24% of the homes completed in Philadelphia in 2024 — or nearly 2,100 units — built in the 19123 zip code?” The Center City District reports, “This geography contains several rapidly developing corridors, with the Delaware River waterfront from Callowhill Street to Penn Treaty Park being the most active. Spring Garden Street and North Broad are other areas of intensifying development.”
- Once the Delaware River waterfront was rezoned for construction of all types of residential projects, building started to boom. The Center City District report continues, “The waterfront more than anything is the source of that really astonishing number of new units.” The waterfront had been the center of attention for years as a futile area for development not only for housing, but also for economic development and as a destination for residents and tourists.
Read the the full story here.
