Kensington Corridor Trust

Year Founded: 2019

The Kensington Corridor Trust fosters the equitable economic revitalization of a commercial corridor and its surrounding neighborhood through local partnerships, strategic programming, and an innovative approach to moving real estate assets out of the speculative private market. Leveraging patient, flexible capital, and a long-term trust vehicle, the KCT de-commodifies real estate assets and transitions them to neighborhood control. This pioneering model of neighborhood ownership, governance, and local economic development has the potential to keep control within the neighborhood and ensure long-term affordability.

Working closely with community stakeholders and residents, Kensington Corridor Trust is 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. They 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.

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.