Login

Reacting to oversupplied conditions, multifamily developers pull back in Philadelphia's Center City

New developments drop to a multi-decade low in 2025
Only three new apartment projects are under construction in Center City, Philadelphia's downtown. (Getty Images/iStockphoto)
Only three new apartment projects are under construction in Center City, Philadelphia's downtown. (Getty Images/iStockphoto)
CoStar Analytics
August 14, 2025 | 6:36 P.M.

In a dramatic shift from the consistent development activity that characterized the downtown market over the past decade, construction activity in Philadelphia's Center City has come to a standstill with no major apartment projects breaking ground so far this year.

This news story is available exclusively to CoStar subscribers.

Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.

This news story is available exclusively to CoStar subscribers.

Ready to Learn More?

Sign Up For a Personalized Demo.

Sign Up For a Demo To Learn More.

Already A Subscriber? Sign In