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Center City real estate news

I'm Jarrell James, a REALTOR with KW Empower. Every week on ReLLestate I go through the region's real estate news. This page is everything from those episodes about Center City, newest first.

What's been reported

  1. One South Broad in Center City is 46% occupied after Inizio left 43,500 square feet, and the special servicer is looking for a broker to sell it, according to Bisnow.

    , Episode 64

  2. A 43 unit apartment building is proposed in Old City with historic features preserved.

    , Episode 58

  3. CSB Holdings and Tide Realty Capital closed a $50 million loan from Citadel Credit Union to fund leasing at 2000 Market Street in Center City.

    , Episode 56

  4. Center City retail occupancy reached 84% as of April, a two year high, according to the Center City District. It was 55% at the worst of the pandemic. West Walnut Street between 15th and 18th is above 88%.

    , Episode 53

  5. A 188 unit, eight story mixed use building is planned for 1527 Callowhill Street in Franklintown.

    , Episode 53

  6. An eight story, 208,000 square foot building with 188 rental units, ground floor retail and a green roof is planned for a parking lot at 1527 Callowhill Street in Franklintown.

    , Episode 52

  7. Philadelphia filed stop work orders against the Mole Street redevelopment in Center City, and the Historical Commission is involved.

    , Episode 51

  8. The 188 unit proposal at 1527 Callowhill Street in Franklintown went to Civic Design Review.

    , Episode 51

  9. Trader Joe's signed a lease at 1505 to 1525 S. Columbus Blvd. in Pennsport, its first Philadelphia store outside Center City. Delivery is expected in the second half of 2027.

    , Episode 49

  10. Vacant lab space is sitting in University City, at the Navy Yard and in Center City, and developers are rethinking those buildings.

    , Episode 48

  11. Redevelopment on North Mole Street is removing some of the last modest rowhouses in Center City.

    , Episode 47

  12. A Center City development site is back on the market after plans for a hotel were dropped.

    , Episode 45

  13. Eight pop up stores are planned for the 900 block of Market Street ahead of the World Cup, and city leaders are discussing incentives for Market East, Bisnow reported.

    , Episode 40

  14. A penthouse at 210 S. 12th Street in Center City listed for $12,600 a month.

    , Episode 37

  15. One South Broad in Center City faced a foreclosure complaint, owing $35 million on a $46.5 million loan, with the tower 60% occupied, Bisnow reported.

    , Episode 29

  16. Stateside Vodka signed an 11 year lease for 34,000 square feet at 1100 Ludlow St. in Market East, moving its headquarters from Bucks County.

    , Episode 25

  17. A Center City office tower entered receivership after a steep drop in occupancy.

    , Episode 18

  18. Comcast Spectacor and the 76ers bought a Market East property from PREIT for $56 million, including the 10 story building at 907 Market Street, Bisnow reported.

    , Episode 16

  19. Buyers aged 25 to 44 made up a majority of recent home purchases in the Philadelphia metro, often by co buying, starting smaller or looking just outside Center City.

    , Episode 12

  20. A five story, 23 unit mixed use building was nearly complete at 1201 Callowhill Street.

    , Episode 12

  21. Philadelphia Magazine paired pricey neighborhoods with cheaper alternatives: Fishtown for Queen Village, Logan Square for Rittenhouse, Mount Airy for Chestnut Hill, Lansdowne for Media and Collingswood for Haddonfield.

    , Episode 9

  22. Dwight City Group, a New York developer, submitted a bid for the former Hahnemann University Hospital site in Center City, closed since 2019.

    , Episode 8

  23. Construction started on a seven story, 74 unit building at 326 North 12th Street in Callowhill, and on a 50 unit building on the 2300 block of East Norris Street in Fishtown.

    , Episode 8

  24. The week's top sale was 2036 Delancey Place in Rittenhouse at $4.5 million, followed by a $2.9 million sale in Gladwyne.

    , Episode 6

Prices, counts and percentages are what was reported the week each episode ran. They are news about the area, not a valuation of any one property.

Questions about Center City

Where does PMC Property Group want to build its next high rise?

On Walnut Street in Center City, overlooking the Schuylkill River. The project requires a zoning change, so it goes through a public process first. From Episode 54, August 24, 2026

What is the retail occupancy rate in Center City Philadelphia?

84% as of April 2026, a two year high, according to the Center City District. It fell to 55% during the worst of the pandemic. West Walnut Street between 15th and 18th streets is above 88%, with four first floor vacancies. From Episode 53, August 3, 2026

What is being built at 1527 Callowhill Street?

An eight story mixed use building of about 208,000 square feet with 188 rental units, ground floor retail, 24 car spaces, 63 bicycle spaces and a green roof. It replaces a surface parking lot at Callowhill and North 16th streets and is in Civic Design Review, with Designblendz as the design firm. From Episode 52, July 27, 2026

Is there too much lab space in Philadelphia?

Yes, according to Philadelphia Business Journal reporting covered in this episode. Vacant lab and research space is sitting in University City, at the Navy Yard and in parts of Center City, and developers are looking at conversions. From Episode 48, June 29, 2026

Why is Vanguard leaving office space in Malvern?

Vanguard says it is optimizing its existing footprint. It is giving up 88,000 square feet at 45 Liberty Boulevard as the lease expires, and it keeps 300,000 square feet at another Malvern location along with space in Frazer and Center City. From Episode 45, June 8, 2026

What is planned for Market East?

Eight pop up stores on the 900 block of Market Street by early May 2026, ahead of the World Cup. City leaders are also discussing longer term incentives, including possible tax abatements, to bring investment back to the corridor. From Episode 40, March 16, 2026

How much does a luxury penthouse rent for in Center City?

A penthouse at 210 S. 12th Street listed for $12,600 a month in early 2026, with other penthouses in the building priced up to $13,250 a month. From Episode 37, February 9, 2026

Which Center City office buildings are becoming apartments?

PMC Property Group plans 273 apartments in the top 10 floors of Ten Penn Center at 1801 Market Street, Bisnow reported in January 2026. It sits one block from Alterra's conversion at 1701 Market. From Episode 36, February 2, 2026

Buying or selling in Center City?

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Episodes that covered Center City

More areas: Fishtown and Kensington, Roxborough and Manayunk, Chestnut Hill and Mount Airy, West Philadelphia, South Philadelphia, North Philadelphia, Northeast Philadelphia. See all.