Inquirer Editorial: Call it home

Another new report, this one looking at the economic resilience of Center City amid the recession, shows that it is smart to live downtown.

The report by the Center City District/Central Philadelphia Development Corporation shows home values in Center City are down a fraction of what other cities are experiencing - and Center City real estate prices have held up better than citywide.

Even in the recession, Center City has been an impressive magnet for jobs, residents, and businesses seeking rental space.

It's where employment has shown strength in professional and business services, health care, and education.

It's also where the office occupancy rates are higher than in suburban office markets, an unusual win for a city that has been losing out to the 'burbs.

So, who lives in Center City? The report says 60 percent of Center City residents hold undergraduate degrees and another nearly one-third hold graduate degrees.

The majority of people living in Center City, no doubt attracted by the nightlife and other amenities, also opt for smart, healthy choices in getting around - on foot or by transit, the study says.

The old Center City vs. the neighborhoods debate on public policy matters hasn't reared its ugly head lately, but there's always a danger that it will in next year's municipal elections.

So, it's good to understand and acknowledge that the city's growing and vibrant core plays such a key role in bolstering Philadelphia's overall economic outlook.