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
Demo Prep Begins For Gothic Revival Church In West Philly

Demo Prep Begins For Gothic Revival Church In West Philly

April 20, 2018  |  News

Christ Memorial Reformed Episcopal Church, a mountainous 131-year-old Gothic Revival landmark in West Philly, prepares for the end. Michael Bixler has the news > more

Ghosts Of The Abandoned Arch Street Subway Line

Ghosts Of The Abandoned Arch Street Subway Line

April 18, 2018  |  Harry K's Encyclopedia

Harry K. takes us into the abandoned subway tunnels below Arch Street with the history behind Philly's unfinished plans for a grand underground transit system > more

Unlisted Philadelphia: Tourison Building

Unlisted Philadelphia: Tourison Building

April 17, 2018  |  Unlisted Philadelphia

Ben Leech spotlights unique and significant buildings not listed on the Philadelphia Register of Historic Places with his architectural illustration series, Unlisted Philadelphia. In this installment, an Art Deco delight fills the heart of Mount Airy > more

Old Iron Works In Logan Square To Face The Wrecking Ball

Old Iron Works In Logan Square To Face The Wrecking Ball

April 13, 2018  |  News

When the housing bubble burst and the recession hit in 2007, plans to convert Creswell Iron Works on Cherry Street into apartments tanked. The quaint collection of industrial buildings is now headed for demolition. Michael Bixler has the details > more

American Revolution Landmark To Be Auctioned Off At Sheriff Sale

American Revolution Landmark To Be Auctioned Off At Sheriff Sale

April 11, 2018  |  Harry K's Encyclopedia, News

Old stone home in Frankford with ties to the Declaration of Independence goes up for auction at a sherif sale in May. Harry K. has the news and history behind this threatened national landmark > more

Time Travel At Trader Joe's Reveals Tuxedos & Snazzy Shoes

Time Travel At Trader Joe’s Reveals Tuxedos & Snazzy Shoes

April 9, 2018  |  The Shadow Knows

The Shadow makes a run to Trader Joe's where fine footwear and totally awesome 1980s tuxedos kept things classy at 2121 Market Street > more