Neighborhoods East of Broad Street Have Grown by 40% Since 2000
In a recent report released by consultant and businesses solution firm JLL Philadelphia, Philadelphia neighborhoods east of Broad St. have grown 40% since 2000. Overall, Philadelphia’s population has been growing but has slowed in recent. However, when comparing population growth from east to west, the east side has nearly doubled the growth rate of zip codes west of Broad St. in the last 18 years.
JLL Philadelphia’s vice president and director of research Lauren Gilchrist stated in the report “The core Center City neighborhoods of Chinatown/Market East (19107) and Old City/Society Hill (19106) have all grown by around 40 percent since the start of the century, while Northern Liberties (19123) sprinted ahead of everyone, growing by 62.1 percent over the same period, facilitated by new housing stock.”
Other interesting findings from JLL’s report shows that although neighborhoods east of Broad Street have seen the most growth, it is the zip codes in South Philadelphia such as 19147 and 19146 that are the most dense. This is attributed to their “densely packed streets.” At this moment Center City is playing catch up when it comes to population growth. JLL predicts that Center City could catch up with the surrounding zip codes due to the increase of high rise construction. Aside from the current projects visible along East Market, there are nearly 36 residential projects in the pipeline for Center City.
Soon, Center City will be more balanced when it comes to commercial and residential space. Developers are looking to make Center City a more welcoming place for those looking to live in Philadelphia. Currently zip codes with a more neighborhood vibe still lead the way but Center City may soon catch up.