Tuesday, August 7, 2012
Market West is changing for the better
Market West, which is basically the short business stretch between City Hall and the Schuylkill River, is really starting to change ... for the better.
This area has always been utilized as a 9-5, business by day / home by night type of scene. Now, savvy investors are starting to follow a trend that is prominent throughout Center City Philadelphia: "Live, Work, & Play."
Part of the reason why Center City has done so well over the last 20 years is because it is a functional, urban core. It has plenty of places to work, live, eat, and shop; more than most people even know what to do with. To top it off, Center City is very walkable, bikeable, and cabable ("cabable" is not actually a word, but it sounded appropriate).
Most of Philadelphia's more prominent jobs are located in Center City, it's where all of the public transportation meets, and it's the lifeblood of our city's social and creative scenes. In other words, Center City works very well for someone looking to enjoy an urban lifestyle.
When the last boom busted, a lot of projects died with it. But just because the bubble burst, does not mean that real estate stops moving; enter the rental market. Lots of building cranes are starting to appear across the city skyline again, but they're not constructing condos; they're building apartments. And the best part is, they are filling up fast.
Read on to see why this well known business stretch is now relying on full-time residents to make it go.