3200 Kensington Avenue
About the project
Shift Capital was founded in 2012 with a mission to employ socially conscious real estate redevelopment as a tool to revitalize communities and reward investors.
Shift Capital is headquartered in Philadelphia, PA.
LISC is providing $2.75 million in financing to fund the conversion of five contiguous, vacant buildings into retail spaces and affordable rental units. This project supports the creation of 16 affordable apartments available at 80% AMI or below, four of which will be affordable at or below 50%, and deed-restricted for 10 years. It remediates a blighted, vacant building on a busy commercial corridor corner, and represents transit-oriented design.
Partner:
Shift Capital, LLC
Location:
Philadelphia, PA
Total Investment:
$2.75 million
Results:
16 units
Project Category:
Affordable Housing
Product:
Construction loan
Website:
UN SDGs:
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