Draft:Kensington Corridor Trust
Submission declined on 16 January 2023 by FormalDude (talk).
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| Submission declined on 19 September 2022 by MaxnaCarta (talk). This submission appears to read more like an advertisement than an entry in an encyclopedia. Encyclopedia articles need to be written from a neutral point of view, and should refer to a range of independent, reliable, published sources, not just to materials produced by the creator of the subject being discussed. This is important so that the article can meet Wikipedia's verifiability policy and the notability of the subject can be established. If you still feel that this subject is worthy of inclusion in Wikipedia, please rewrite your submission to comply with these policies. This submission does not appear to be written in the formal tone expected of an encyclopedia article. Entries should be written from a neutral point of view, and should refer to a range of independent, reliable, published sources. Please rewrite your submission in a more encyclopedic format. Please make sure to avoid peacock terms that promote the subject. Declined by MaxnaCarta 20 months ago. | |
Comment: This organisation does meet NCORP. There are several reliable sources covering the subject in-depth. However this article is far from ready for main space. Reads like an advertisement, has excessive external links that are also embedded within the article. Entire thing needs to be re-written from the ground up. See Salvation Army for a good example of a non-profit organisation article. MaxnaCarta (talk) 12:08, 19 September 2022 (UTC)
| Formation | September 2019 |
|---|---|
| Type | Neighborhood Trust, Nonprofit |
| Headquarters | Kensington, Philadelphia, PA |
| Website | https://kctphilly.org/ |
Kensington Corridor Trust (KCT) is a non-profit neighborhood trust located in the Kensington neighborhood of Philadelphia, Pennsylvania, United States. KCT was founded in September 2019[1] by a partnership of four separate Philadelphia based organizations[2] and is one of the first neighborhood trusts in the United States.[3] It was founded with the purpose of mitigating the effects of gentrification in a section of Philadelphia's Kensington neighborhood. The trust utilizes the neighborhood trust[4] or steward-ownership model[2] where it buys commercial and residential properties along Kensington Avenue from Lehigh Avenue to Glenwood Avenue – what it calls the “corridor”.[5] It stewards its properties with the stated goals of providing the community with control over real estate assets, preventing wealth extraction, and fostering local entrepreneurship.[2][6][7]
History
In 2019, Kensington Corridor Trust was founded by Impact Services, PIDC, Shift Capital, and IF Lab.[8] These organizations collaborated to address rapid development and new investments that they saw as a threat to the future of the neighborhood's affordability. Specifically, the founders feared that the low income residents of the neighborhood would be displaced by increasing rents that have accompanied gentrification in other neighborhoods in cities around the United States.[8][9] The four organizations had made early governing decisions to guide the trust's growth, but soon after hiring an executive director for the trust in 2020, the founders relinquished their control.[10] In their place, a new board was formed including Kensington business owners, residents, and a federally qualified health center from the neighborhood.[10] The trust announced in September 2022 that it is transitioning towards a permanent oversight committee of neighborhood residents and business owners, called the KCT Neighborhood Trust, that will make important decisions on the trust. KCT is currently growing its portfolio, stewarding its current properties, and developing a democratic governance structure that will allow residents to have ultimate control over the trust's assets and ultimately over a significant portion of the Kensington Avenue Corridor.[10]
References
- ^ Darnell, Casey (Jun 23, 2020). "Kensington nonprofit plans $20M campaign to acquire, redevelop blighted properties". www.bizjournals.com. Retrieved 2022-06-27.
- ^ a b c "Philly's Kensington Corridor Is Taking Back Power Over Economic Development". nextcity.org. Retrieved 2022-06-27.
- ^ "Kensington Corridor Trust Episode 1: Moving Beyond "Congenial Partnership"". Purpose. Retrieved 2022-06-27.
- ^ Margulies, Joseph (2021-03-23). "How neighborhood trusts interrupt gentrification and shift ownership to communities". ImpactAlpha. Retrieved 2022-09-19.
- ^ Arvedlund, Erin (October 10, 2021). "Investing in racial opportunity". The Philadelphia Inquirer. pp. A14.
- ^ "About". Kensington Corridor Trust. Retrieved 2022-06-27.
- ^ Bond, Michaelle. "Preservation can promote equity for Black communities, report says". www.inquirer.com. Retrieved 2022-06-28.
- ^ a b "How Kensington Corridor Trust is Building Community Power and Wealth Through Real Estate – And You Can Help". Giving Compass. 2022-02-11. Retrieved 2022-06-28.
- ^ "Impact Services Corporation: Kensington Corridor Trust". The Barra Foundation. Retrieved 2022-06-28.
- ^ a b c Purpose; Kensington Corridor Trust (June 28, 2022). "Transitioning into community stewardship".
External links
Category:Gentrification in the United States Category:Philadelphia Category:Kensington, Philadelphia Category:Land trusts in Pennsylvania Category:Affordable housing
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