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The proof is in the numbers: Even with an influx of national retailers on Walnut and Chestnut streets, Center City—as a whole—is a long way from becoming mall-ified. "79% of Center City retailers are boutiques, independents, or locally owned," says the Center City Districts' State of Center City 2014. Released annually, the report summarizes data relating to the development of Center City Philadelphia for the previous year, the area defined by Vine and South streets and the Schuylkill and Delaware rivers.
So despite Walnut Street's skyrocketing rental rates, displaced indie boutiques, and the fervor and anticipation surrounding the announcement of a new national retailer, the 79% figure is a reminder that Walnut Street is a very small slice of the Center City pie. Tl;dr: While it sometimes may seem otherwise, Walnut Street does not a whole city district make.
· State of Center City 2014 [Center City District]
· You Have Tourists to Thank for Spurring the Philly Economy [Racked Philly]
· Rittenhouse Row on Walnut Street 'Mall-ification': Stop the Panic! [Racked Philly] [Racked Philly]