Christian St.

Southwest Center City has undergone major expansion since 1998 when there were 529 vacant properties in that region.  By July of 2010, 426 (80.5%) of these properties have been either redeveloped or improved as open space.  This Philadelphia neighborhood has benefited immensely from gentrification and has quickly transformed from an area well known for crime and drug corners to a neighborhood now better known for its restaurants, bars, and housing.  Home values have jumped significantly year to year.  The median sales price of a single family home in this region grew 526% to $282,000 between 1998 and 2010!

While the condition of southwest Philadelphia from the 1980s to 1990s completely bottomed out, it’s location so close in proximity to the most affluent neighborhoods in Philadelphia essentially set it up for success.  Property values were absurdly low and created a perfect opportunity for developers to refurbish completely vacant buildings in what had promise to be a very desirable location. With the help of non-profit groups, investments, federal grant money, and continued success of surrounding Center City neighborhoods, the renovation was able to accelerate quickly.

Southwest Philadelphia’s refurbishment is not over. The new demographic in this section of the city holds promise for retail development that would cater to the increasing incomes of new residents.  It will surely be interesting to monitor further growth in this Graduate Hospital section of Center City.

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