Welcome to Fishtown & Kensington

Fishtown and Kensington are synonymous with cultural vibrancy and economic resurgence, offering a mix of industrial warehouses, office spaces, multifamily properties, retail properties, and mixed-use developments. These neighborhoods are particularly attractive to entrepreneurs, creative industries, non-profits, and social services thanks to their eclectic atmospheres and growth potential.

Fishtown & Kensington Commercial Real Estate Insights

Commercial properties in Fishtown and Kensington have a median sales price of approximately $600,000, with the average price per square foot at $90. The area's proximity to major transportation routes and the waterfront enhances its appeal for industrial and logistics spaces, while retail growth along Frankford and Girard Avenues supports local businesses.

Notable projects in Fishtown and Kensington are the Oxford Mills, Memphis Flats, and Huntingdon Mills developments, led by D3 Real Estate Development. These projects are transforming former industrial sites into vibrant community spaces with residential units, retail, and green spaces. These projects enhance the area's appeal and functionality, making it an attractive destination for businesses and residents alike.

People & Lifestyle

Parks and Recreation: Fishtown and Kensington offer various parks and green spaces, including Penn Treaty Park and Norris Square Park, providing residents with recreational areas and community event venues.

Education: The neighborhoods are served by a mix of public, private, and charter schools, contributing to the area’s educational landscape.

Dining and Shopping: Fishtown and Kensington are known for their trendy dining and nightlife scenes. Popular establishments include Fette Sau, Frankford Hall, and La Colombe's flagship coffee roastery. The area also hosts several music venues like The Fillmore and Johnny Brenda's, providing a lively entertainment scene.

Cultural Attractions: These neighborhoods are rich in cultural institutions and community initiatives. The Crane Arts Building and the Kensington Community Food Co-op are notable community hubs.

Community Spirit: Nonprofits and social service organizations find a supportive community in Fishtown and Kensington, benefiting from affordable spaces and strong local engagement. Sustainability is a key focus in new developments, reflecting the community's values.

Opportunities

Economic Landscape:

Industry Presence: Fishtown and Kensington have a strong presence in creative industries, hospitality, and small manufacturing, supported by flexible industrial and office spaces.

Employment Hubs: Key employers include local businesses, creative studios, and hospitality venues, contributing to the area's dynamic job market.

Startups and Innovation: The neighborhoods attract startups and innovative ventures, supported by affordable real estate and a vibrant local culture.

Business Incentives:

Tax Incentives: Various programs offer tax incentives for businesses, encouraging economic growth and development.

Grants and Loans: Financial programs provide grants and low-interest loans to support business expansion and entrepreneurship.

Business Improvement Districts (BIDs): Organizations like New Kensington Community Development Corporation help maintain and improve the area, enhancing the business environment.

Networking and Support:

Chambers of Commerce: Active organizations such as the Fishtown Kensington Area Business Improvement District provide networking opportunities and business resources.

Professional Networks: Numerous industry-specific associations and local business groups facilitate connections and knowledge sharing.

Community Engagement: Local events, charity functions, and social clubs foster a strong sense of community and support for local businesses.

Economic Headwinds and Tailwinds

Headwinds:

• Gentrification: Rapid gentrification can lead to displacement of long-term residents and businesses.

• Infrastructure Challenges: Some areas face infrastructure challenges that can impact new developments and business operations.

• Economic Disparities: Significant economic disparities within neighborhoods can affect overall economic growth and development.

Tailwinds:

• Cultural Appeal: The vibrant cultural scene attracts businesses and residents, enhancing economic growth.

• Affordable Real Estate: Relatively affordable real estate prices make the area attractive for startups and small businesses.

• Community Initiatives: Strong community initiatives and support from local organizations foster economic development and business growth.

Conclusion

Fishtown and Kensington provide a vibrant and evolving landscape for commercial real estate ventures, perfect for those seeking dynamic growth opportunities. Their blend of diverse real estate options, vibrant food and entertainment scenes, and strong community engagement make them attractive destinations for businesses and residents alike.