A report released by the Center City District/Central Philadelphia Development Corporation shows economic resilience for Center City despite the recession.  It shows that it’s smart to live downtown.  Home values in Center City are only down a fraction of what other cities have been experiencing and overall Center City prices have held up better than other areas of the city.

Center City remains a strong employment sector with a lot of professional and business services as well as health care and education.  The office occupancy rate is higher right now than in suburban offices, which is not usually the case.  According to the report, 60% of Center City residents have undergraduate degrees and 1/3 has graduate degrees.  The residents of Center City reportedly cut down on work commute expenses by taking advantage of the walkability of its neighborhood as well as the surrounding public transportation.

“People are eager to live and work in Center City and that is why new housing is still being constructed and sold in neighborhoods throughout the downtown.” -Paul R. Levy, President and CEO of the Center City District

Check out the full article at CenterCityPhila.org

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