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NEIGHBORHOOD OVER PROFIT
Who wins when a neighborhood changes?
As rapid development continues to leave neighborhoods in fear of change and powerless to wealth extraction, we need better tools for neighborhood residents and business owners to benefit from and be a part of that change. The status quo excludes the neighborhood, does not build knowledge and capacity in the communities that live and have businesses there, and extracts value. We will leverage a neighborhood trust model to maintain local control of property use and values in perpetuity while using profit to reinvest for the existing community. We embrace value-aligned development that preserves and protects the communities that make up the neighborhood today.
THRIVING
Our Work
Working closely with community stakeholders and residents, we are developing a new model for increasing neighborhood control, focused on fueling the Kensington Avenue corridor as an economic engine that can drive stability and economic prosperity in the neighborhood. We recognize how critical the development of physical space is to overcoming poverty and will leverage the area’s physical assets (transportation infrastructure, walkability, availability of properties) and neighborhood strengths (mobilized residents, strong neighborhood-based organizations) to create lasting change.
ASSET CONTROL
We will tackle the acquisition, development, and activation of quality affordable commercial and mixed use properties.
PARTNERSHIP
We will build strong partnerships with existing neighborhood-based organizations to broaden the possibilities of our work.
HEALTHY & SAFETY OF THE PHYSICAL SPACE
We will invest in initiatives that support the health and safety on Kensington Avenue for business and residents.
Location
Kensington
Philadelphia’s Kensington neighborhood was once known as the Workshop of the World. Represented by booming manufacturing, lauded commercial success, and a well-employed neighborhood. During that time, Kensington Avenue was a bustling local business corridor and the heart of the neighborhood. As manufacturing slowed and markets relocated, a once-thriving commercial corridor was impacted by a lack of economic investment, an increase in predatory businesses and services, and the rise of illicit economic activity related to the drug trade. These changes deeply impacted area residents, 58% of whom live below the federal poverty line. The average Kensington household annual income is $20,505 (roughly half Philadelphia’s average) and unemployment was roughly 24% before COVID-19 (nearly five times the rate for Philadelphia overall).
“We want Kensington Avenue to be safe, healthy, and socioeconomically diverse. It needs to remain accessible and affordable for current and future residents. ”
