Shift Capital last year announced the beginning of its J-centrel project in the Harrowgate neighborhood, on the opposite side of Kensington from Fishtown. Like all of Shift’s projects to date, J-centrel is the redevelopment of a historic but rundown factory building into a mixed-use project with multiple features designed to proactively benefit local residents.
Shift realized upon gaining access to the building to begin work that it would require more time and money than initially estimated, Shift Vice President of Development Maria Sourbeer said at Bisnow’s Philadelphia C-PACE: How To Close A Deal webinar on Thursday. Meanwhile, Philadelphia City Council had recently passed legislation allowing the use of C-PACE, or commercial property-assessed clean energy, financing. Sourbeer sensed an opportunity.