Partnering with neighbors on Philadelphia’s Kensington Avenue

The Kensington Corridor Trust (KCT) is a Philadelphia-based organization grounded in the belief that neighbors have the power to affect change in their own neighborhood. Through local partnerships and community programming, the KCT’s goal is to keep assets and wealth in the control of the community. By reactivating real estate, fostering local entrepreneurship, and reinvesting capital into the neighborhood, the KCT’s mission is to build local wealth among residents and include community members in a values-aligned approach to development that protects the communities that make up the neighborhood today.  

One way that the KCT does this is by purchasing and operating commercial and mixed-use properties on Kensington Avenue on behalf of the neighborhood. These spaces are then developed and reactivated for community ownership and use. Financed through NFF’s CARE Fund, which offers 0% interest loans to community-centered nonprofits led by and serving people of color, this $250,000 working capital loan will finance the acquisition of two properties into the trust – an important step towards the organization’s long-term goal of restoring control of Kensington’s buildings to Kensington residents. As they grow, KCT will be able to provide more spaces that foster economic equity and thriving communities. 

Nonprofit Finance Fund has been a wonderful partner from meeting our capital needs, to leveraging their network and providing us with technical assistance. We hope to be in partnership with NFF for years to come!

Learn more about how we support community ownership of assets.

See how NFF’s financing supports organizations in education, community improvement, health, homelessness and housing, human services, social justice, workforce development, and youth development. Explore examples of financing in action.