ECONOMIC IMPACT STUDY
The report highlighted the growth of the district and the continued vibrancy by analyzing different impact economic sectors such as:
The report demonstrated that Old City District has seen significant development since the start of the century. While the district has always been a hub for tourism, bringing in 4.3 million annual visitors to Independence National Historic Park, Old City has become a place for locals and tourists to live, work, and play.
With a population outgrowing other areas in Philadelphia, Old City had to meet the needs of its new constituents. The district has seen growth in housing, jobs, retail, dining, and entertainment, contributing to the evolution of Old City. Hosting some of the city’s top restaurants, shops, and cultural events, Old City has brought a modern twist to its historical roots. The report highlights the diverse offerings the district provides from top theatres and art galleries to creative office spaces and tech companies.
Old City’s development will continue, adapting more historic properties to modern uses and encouraging further neighborhood development.