More than 1,700 apartments have opened in and around Center City this summer thanks to five major developments. The new units come amid a surge in multifamily projects throughout Philadelphia. Among developments with at least 50 units, 2,653 new apartments were built citywide in the first six months of 2024, according to real estate data firm Yardi Matrix. Five high-profile developments have accounted for 1,747 — or more than 65% — of those new units: Post Brothers and Tower Investments’ One Thousand One; Midwood Investment and Development’s 210 S. 12th St.; GY Properties’ Five on Canal; Southern Land Company’s Josephine; and Jefferson Apartment Group and Haverford Properties’ Rivermark Northern Liberties.
Source: Philadelphia Business Journal; 8/11/2024