For many years the process of returning land in public ownership to private reuse was a complicated one. Potential buyers had to do their own property research, and might even have had to reach out to three different agencies to inquire about three parcels that were next to each other.
But today Philadelphia has a different approach to combating blight by reactivating publicly owned properties – the Philadelphia Land Bank.
The Philadelphia Land Bank is a powerful tool to return vacant and tax-delinquent properties to productive use. It will simplify the process of transferring properties from public agencies to private owners. It can also acquire privately owned vacant parcels that are roadblocks to revitalization. The Land Bank’s ability to clear liens from titles will make properties more attractive to potential new owners.
The Land Bank is ready to work with residents, community groups, nonprofit groups and for-profit businesses to rid Philadelphia’s neighborhoods of blight and vacancy. You can start by looking for properties on our Real Estate for Sale map.