2/08/2012

Philly's Fishtown and Kensington Neighborhoods still hold on to prime realestate

Many young suburbanites and college graduates find the off grid village like streets of Fishtown and East Kensignton to be a desirable, and easily accessible place to live.  Serviced by two Market-Frankford stations and multiple bus routes connecting to Temple University, Center city and nearby Northern Liberties, the neighborhoods are a sure bet young adults and new families on the go.  These family based communities which haven't had the best historical reputation, with lots of racial tension, seems to have been overlooked by newcomers who simply care about great prices, unique pads, and easy access to schools and jobs.



Developers from G8-Life to Onion Flats have taken advantage of the cheap land prices which are steadily increasing.  Development is seen in the form of rehabilitation of abandoned structures, new single family constructions, and pop up small businesses from boutiques to caf├ęs. The neighborhood associations, like their neighbors in Northern Liberties are not opposed to structure over 60 feet, which is very appealing to developers.  Time will tell what this neighborhood ultimately evolves into.  It can only be a positive change for Philadelphia, with Bart Blatstein jumping on the North Broad Street ban wagon with purchases of the Philadelphia Inquirer and another former city owned tower blocks away.  I wouldn't be surprised if he dips his hands into the Divine Lorraine.









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