Kensington’s vacant and burglar-friendly properties have exacerbated the drug crisis.

Now the city is trying to shut down the neighborhood’s notorious drug market, which could boost real estate prices and spur development. That means real estate investors responsible for Kensington’s decline and the resulting nightmare for residents could soon reap the benefits.

Keep scrolling to read this story and the rest of this issue:

📮A few years ago, I accidentally killed a vine that my mother had been growing for decades. (I blame my decision to bring it into the office.) Do you have a plant in your home or garden that you inherited? If you’d like a chance to be featured in my newsletter, email me.

— Michael Bond

If someone forwarded this email to you, sign up for free here.

The complex in Kensington was known as “Triple X”.

Like a perverse farmer’s market, the drug dealers set up stalls there. And they erected tents where customers could get high for five dollars.

The fenced-off area included two vacant lots and an empty storefront that was once an adult bookstore and allegedly a prostitution site. The man who bought the vacant building in 2020 is a real estate speculator. His business strategy is to buy properties that no one else wants and hold on to them until their value increases and he can sell them for a profit.

One in five properties in Upper Kensington is owned by a business. And some attract crime and gun violence.

Read on to learn what The Inquirer discovered when we investigated real estate speculation in Kensington.

A new generation has taken on the task of preserving the history of one of Avalon’s oldest houses.

Built in 1880, the three-story home has been in Alex Anastasio’s family for three decades, and she was thrilled to be able to purchase it in 2020.

She and her husband, Paul, love the location and ocean views, but the home’s historical significance was a big draw. It was the first home to be listed on the Avalon Register of Historic Places. (In 2017, we wrote about a developer who bought another of Avalon’s oldest homes with the intention of demolishing it.)

During the pandemic, the Anastasios learned of two families who lived in the house at different times. The grandson of a man who owned the house from the 1920s to the 1960s shared his childhood memories in a note that showed up on the couple’s door.

Then there is the rumor that the house was a brothel in the late 19th century, which may be why four of the house’s six bedrooms are so small.

Take a look inside the house that Alex’s parents named “Sand Spur” and learn more about the features and history of the house.

The latest news to watch out for

Philly released new property assessments last week for the first time since 2022. The tax bills associated with those assessments are due next year.

As you may have read in this newsletter last week, Philadelphia homeowners are facing an average increase of over $300 in their property tax bill.

My colleague Layla A. Jones has put together a guide outlining what Philadelphia residents need to know about the new property assessments and their tax bills.

Read on to learn how Philadelphia determines property values, how to calculate your tax liability, how to appeal your tax assessment, and more.

Last weekend, a friend came to visit who had given me a small piece of her spider plant in 2017. Unfortunately, her own plant died later. But my piece grew large and produced many offshoots. A cutting that I had given to another friend years ago only recently started to flower and produce offshoots of its own.

I’m pretty proud that I helped keep my friend’s plant alive in some way.

So I can imagine a little bit what Jim Vick and Julie Miller Vick must think about their garden in Haddonfield.

Their 40-foot-tall cedar tree grew from a two-foot-tall sapling that Jim dug up in his parents’ yard. That sapling came from a large cedar tree that Jim’s grandfather had planted near his home in Altoona, Pennsylvania, in the 1930s.

Some flowers in the Vicks’ garden come from Julie’s parents’ garden in Belmont, Massachusetts. Some plants come from the garden of Jim’s long-time friends in Boston.

Take a look inside this lavish Haddonfield estate that the Vicks spent 40 years creating.

🧠 Time for interesting facts

The number of millennials living in Philadelphia has increased over the past two decades, while the number of baby boomers and Generation X has declined. Millennials now make up the majority of Philadelphia’s population, and they are not flocking to the suburbs.

Question: What percentage of Philadelphia residents are millennials?

A) 33%

B) 45%

C) 18%

D) 27%

This story has the answer.

📊 The market

As you read earlier in this newsletter, the Philadelphia luxury real estate market has been strong this spring, with luxury sales up compared to last spring.

But overall, sales this spring fell compared to the same period last year.

But like the luxury market, the overall market was still competitive this spring and will be this summer. Prices continue to rise and homes sell quickly (if they are desirable and priced right).

In addition, buyers have a wider choice of homes to choose from than last year, but many still find it difficult to afford a home.

According to the multiple listing service Bright MLS, in the greater Philadelphia area:

🔺The number of active real estate listings increased by about 18% at the end of July. And the suburbs saw the biggest increases.

🔺The median sales price last month was $395,000 – $26,000 higher than last July.

🔺Home sales rose 13% in July compared to the same period last year.

The average interest rate on a 30-year mortgage fell last week to its lowest level in over a year. Lower interest rates are likely to bring more buyers and sellers into the market.

📷 Photo quiz

Do you know the place shown in this photo?

📮 If so, write me an email. You and your memories of visiting this place could appear in the newsletter.

A big thank you to Janet P., Matt C. and Sandi S. who knew that last week’s quiz featured a photo of the now slightly smaller Graffiti Pier.

Matt told me he went on a team-building boat tour there a few years ago, “and the views from the water of this unique place are amazing.”

Enjoy the rest of your week.

By submitting your written, visual and/or audio contributions, you agree to the Terms of Useincluding the grant of rights in Section 10.