New report indicates Center City is still in economic slump but is ‘on the right path’

People hanging out in Center City
People hanging out in Center City Photo credit Hadas Kuznits/KYW Newsradio

PHILADELPHIA (KYW Newsradio) — The Center City District this week released a new report on the state of the area's economy.

Paul Levy, president of the Center City District, said the new report titled "Restaurant and Retail Recovery: Slow, Steady but fragile" indicates an uptick in activity from the summer to the first two weeks after Labor Day.

"We were very clear about this that this was not a guaranteed recovery, but we're on the right path,” he explained.

He said what people might have thought about Center City this past summer has changed.

"The image that a lot of people had of boarded up storefronts, there were 276 in June. We were down 56 at the end of September, so a lot of reopening and recovery,” Levy said.

And he said through the summer, pedestrian volumes were only at about 33% compared to the same time last year. After Labor Day, he said the number jumped up to over 40% — they were at 44% the last two weeks.

Levy points out that there are students in Philadelphia, even if they're attending classes remotely, and there's a small growing percentage of people in their offices.

"But again, the pedestrian counts in the office district are one half the people on Walnut, Chestnut and Locust street,” he said.

Featured Image Photo Credit: Hadas Kuznits/KYW Newsradio