Millennials Mortgaging Kensington

 

"Homes like these on Waterloo Street in the Kensington area are changing hands fast, even as prices rise." | Photo: Emma Lee, for NewsWorks

“Homes like these on Waterloo Street in the Kensington area are changing hands fast, even as prices rise.” | Photo: Emma Lee, for NewsWorks

  • “If a mortgage can be cheaper than rent, it’s kind of a no-brainer,” muses Andy Moholt, explaining his rationale for purchasing his first home, in Kensington, for $50,000. NewsWorks reports that according to a study from Drexel’s Lindy Institute for Urban Innovation, this year’s third quarter saw a nearly 20% jump in the median price for a home in the neighborhood from the previous year. “You might have never thought you’d hear this sentence fall from someone’s lips,” says economist Kevin Gillen, “but right know Kensington is the hot place to be.”
  • The Frankford Gazette relates the happenings of the Northwood Civic Association’s monthly meeting on Tuesday night. A PennDOT traffic study, conducted along Castor Avenue between Foulkrod and Pratt Streets, revealed consistent speeding conditions. Therefore “the state will propose some traffic calming solutions,” such as “a raised crosswalk may be installed to force drives to slow down.” Also, repair work will supposedly soon begin on the Simpson Recreation Center; a September 2016 completion is expected.
  • West Philly Local is happy to share news of two substantial grants recently being awarded to local nonprofits: the William Penn Foundation’s $2 million gift to Bartram’s Garden to promote the historic horticultural center’s programming and environmental efforts by the Schuylkill, and the U.S. Small Business Administration’s $1.2 million to The Enterprise Center, meant for local job training, technical assistance, and networking skills.
About the author

Stephen Currall recently received his BA in history from Arcadia University. Before beginning doctoral studies, he is pursuing his interest in local history, specifically just how Philadelphians engage their vibrant past. Besides skimming through 18th century letters, Steve is also interested in music and travel.

Send a message!



Leave a Reply

Comment moderation is enabled, no need to resubmit any comments posted.

Recent Posts
The Vanishing Of Northeast Village

The Vanishing Of Northeast Village

January 16, 2018  |  Vantage

David Coyne traverses bramble and broken blacktop along Roosevelt Boulevard to reveal a military housing community that was evacuated and demolished in the 1960s > more

A Field Guide To Demolition

A Field Guide To Demolition

January 12, 2018  |  Vantage

Peter Woodall spotlights specific building types facing the most development pressure in four high-profile neighborhoods > more

From Prints To Trivets, Art Imitates Life Of Manhole Covers

From Prints To Trivets, Art Imitates Life Of Manhole Covers

January 11, 2018  |  Vantage

Contributor Jonathan Schmalzbach talks with a designer and a printmaker about their obsession with manhole covers and public utility as creative muse > more

Little Corner at 10th & Market Reveals Big Legacy

Little Corner at 10th & Market Reveals Big Legacy

January 8, 2018  |  The Shadow Knows

Reading Terminal, Philadelphia Mint, Drexel Institute--all prominent landmarks built by contractor Charles McCaul. The Shadow uncovers the little-known legacy of the big time builder at a nail salon on 10th Street > more

For The Love Of Carpenter Lane

For The Love Of Carpenter Lane

December 28, 2017  |  Vantage

Tony Aiello takes a stroll down Carpenter Lane in Mt. Airy where an historical timeline can be traced in architecture > more

As Inquirer Building Awaits Police HQ, A Peek Inside

As Inquirer Building Awaits Police HQ, A Peek Inside

December 26, 2017  |  Last Light

Photographer Chandra Lampreich takes a look inside the empty halls of the "Tower of Truth" > more