Drummers accompanied the dance teams for the colorful performances.
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Residents say there are big hopes for the Year of the Dragon.
"The Year of the Dragon is power, intelligence, and luck. I just think it's beautiful," said Sun-Mi Cho, director and founder of Ballet SunMi.
Cho's dance group was one of the few called to participate in the event. They lead a K-Pop lesson for kids.
"I'm so thrilled that dance and art in general bring the community together," said Cho.
Families, community members, and friends came to take at the moment.
The event began with opening remarks by Senator Nikki Saval and Mary Louise Isaacson.
The Crane Center Thai Chi Team performed, along with The Philadelphia Suns, who performed the traditional Lion Dance.
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"We've seen dragon dances before, we see how awesome it is. The kids love it, just because they're just dancing, it's just great," said Bee Danh from East Falls.
Danh came with his young son, nieces, and nephews. He says the event is a chance to pass down and celebrate his rich Southeast Asian culture with the younger generation.
"It's a celebration of where we come from. The American dream is what we pursue, just knowing where we are now, and looking back, that's what it's all about," said Danh.
This was Rail Park's fifth annual Lunar New Year Celebration.
The event also featured various local community organizations, workshops, and arts and crafts.
The Lunar New Year will be celebrated for the next week.