Nearly three-quarters, 72%, of housing units in Center City arerental units, compared with 41% in the city as a whole, accordingto Center City District's 2002 apartment survey. And, althoughCenter City's stock of new and converted rental units grew by 5,000units between 1997 and 2002, and gained 1,400 units just last year,the occupancy rate remains above 95%.
Apartments in The Grande, the former Packard Building, rent forbetween $1,375 a month for a one-bedroom unit, to about $3,200 fora three-bedroom unit.
The owner is locally based Metro Development Corp.
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