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Intro


Reimagine

Shift Capital and its partners are launching the Kensington Avenue Storefront Challenge -- an opportunity to participate in the reimagining of Kensington Ave as the safe, innovative, inclusive heart of the community. We will provide funding and support to accelerate up to 10 concepts in real spaces directly on Kensington Ave.  

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Intro


Reimagine

Shift Capital and its partners are launching the Kensington Avenue Storefront Challenge -- an opportunity to participate in the reimagining of Kensington Ave as the safe, innovative, inclusive heart of the community. We will provide funding and support to accelerate up to 10 concepts in real spaces directly on Kensington Ave.  

Kensington Avenue Storefront Challenge

Founding Sponsors

Supporting Sponsors

 
 

If you're interested in sponsoring the Kensington Avenue Storefront Challenge, please email info@shiftcapital.us

Breathe Life Back Into Kensington Avenue!

Shift Capital and its partners are launching a campaign to reimagine the Kensington Avenue Commercial Corridor.  Like many former economic hubs in the city, the "Ave" has suffered from a world that left old urban-style, walkable retail behind. This is an opportunity for Philadelphia, and the world, to reimagine what tomorrow's walkable, urban corridor might look like.

We are seeking both the dreamers and the doers, the old school and the new school.  We can't do this without a key ingredient...YOU, which may include entrepreneurs, social entrepreneurs, Kensington residents, nonprofit organizations, restaurant owners, business owners, makers, and artists. Our goal is to find the right combination of old businesses and new concepts and support them in this effort. 

What Will You Win?

  • Up to 1 year of free rent in a long-term lease from Shift Capital
  • Up to $10,000 toward the interior improvements of the retail space from Shift Capital
  • $5,000 toward installing signage and storefront features, then 50% of costs thereafter up to at total of $10,000 per storefront (or $15,000 for a corner store) from the Storefront Improvement Program through the Department of Commerce
  • $5,000 toward the cost of installing exterior security cameras,  from the Business Security Camera Program through the Department of Commerce
  • Technical Assistance provided by NKCDC and Impact Services which includes
    • Licensing & permitting assistance
    • Navigating city departments & resources
    • Zoning assistance
    • Financial referrals
    • Business planning (business plan templates, referrals to SBDCs, provide feedback on business plan)
    • Kiva loan program
  • Potential to negotiate ownership of property at end of lease

Final structure of each deal to be negotiated individually

Timeline

  • September 12, 2017: Official Launch, Applications available for download
  • September 27, 2017: Launch Event, 6-8pm, at PORCHLIGHT HUB (2774 Kensington Ave, Philadelphia, PA 19134)
  • October 7, 2017: Open house, all spaces will be open for viewing from 12-2pm 
  • November 1, 2017: Deadline for submittal of APPLICATIONS
  • November 17, 2017: Announcement of Applicants advancing to Presentation Round
  • Week of December 4th, 2017: Remaining Applicants present their concepts to the Review Committee. Presentation to be no more than 5 minutes. Exact date and location TBD
  • December 18, 2017: Announcement of Kensington Avenue Storefront Challenge Winners
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Opportunities


Opportunities


The Properties

There are fourteen properties that are planned for the challenge, depending on availability at the time of applications. Here is a sample of the properties available, which include multiple restaurants, retail stores, a barbershop, and a medical office, to name a few. For a full list of properties, including photos and space specifications, download the KENSINGTON AVENUE STOREFRONT CHALLENGE PRESENTATION.

3000 Kensington Ave

3000 Kensington Ave

3200 Kensington Ave

3200 Kensington Ave

3314 Kensington Ave

3314 Kensington Ave

3415 Kensington Ave 

3415 Kensington Ave 

3419 Kensington Ave

3419 Kensington Ave

3525 Kensington Ave

3525 Kensington Ave

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Challenge Information


Challenge Information


What Do I Do Next?

If you are ready to participate in the challenge, the next two steps you need to take are:

  1. Download the KENSINGTON AVENUE STOREFRONT CHALLENGE PRESENTATION and review all of the properties
  2. Download and complete the KENSINGTON AVENUE STOREFRONT CHALLENGE APPLICATION and submit by November 1, 2017
  3. Review our FAQs if you have any burning questions.
  4. For your information, we've put together some basic market data and community survey information HERE
  5. Get prepared for your 5 minute presentation to the Review Committee should you make it to the Final Round. 
  6. Contact our technical assistance partners Kae Anderson and Rolando Sanchez if you need assistance with your application

Kae Anderson, Director of Economic Development
New Kensington Community Development Corporation
2515 Frankford Avenue, Philadelphia, PA 19125
215-427-0350 ext 136 | fax 215-427-1302
kanderson@nkcdc.orgwww.nkcdc.org

 

Rolando Sanchez, Commercial Corridor Manager
Impact Services Corporation
Kensington & Allegheny Business Association
1952 E Allegheny Avenue, Philadelphia, PA 19134
215.739.1600 ext 128 | fax: 215.739.3283 
rsanchez@impactservices.org  | impactservices.org

Inspiration

Shift Capital’s mission is to create a safe and prosperous Kensington. We have spent the past few years acquiring and rehabilitating over 1.8 million square feet of previously vacant residential, commercial and industrial space in the neighborhood, including the commercial storefront properties included in the Kensington Avenue Storefront Challenge. Building relationships and commitment to the community is at the core of our work. We are actively cultivating a hub of creative energy and manufacturing potential at MaKen Studios that will reduce blight and create jobs for local community members. We have a portfolio of residential units that are newly renovated, safe, healthy and affordable. We are now using our financial resources, our business experience, and our neighborhood relationships to help the commercial corridor along Kensington Avenue.

The Kensington Avenue Storefront Challenge is a unique opportunity for businesses to realize the dream of a new or expanded endeavor on Kensington Avenue. While many new businesses struggle with fitout costs and overhead expenses, the Challenge will help navigate those challenges on the journey to success and profitability. As owner of these properties, Shift Capital will fund a piece of awardees fit-out costs and subsidize businesses with free rent for up to one year.  We are partnering with our friends at NKCDC and Impact Services to offer small business support services and to help us work with owners toward successful businesses that will invigorate the area. We aren’t just looking for a good tenant, we are looking for a good neighbor who will take an active role in building community, and reactivating the corridor along Kensington Avenue.

We have an opportunity to bring strong business owners to Kensington Avenue and a responsibility to make sure that change is driven by and for the people who live here. The Review Committee we’ve put together represents area business people, residents and leaders. We are giving applicants the chance to start-up or expand a business, and help us all build a better neighborhood. We’re really looking forward to seeing great ideas from a myriad of business owners and aspiring entrepreneurs. We know that Kensington is full of industrious, hard-working people who can be successful with the right opportunities, we also know that Kensington Avenue is ripe for change and an existing strong business could thrive here. If you’ve ever wanted to start a business, or expand your existing business, now is the time.

Contact Information

If you have additional questions that are not covered by the FAQs, please contact us at info@shiftcapital.us