At a recent public hearing on the Philadelphia Land Bank, city council members heard from community development corporations, real estate developers, community gardeners and government officials for more than four hours. Most of the attendees agreed that there is much room for improvement. “The Land Bank was designed to streamline the process of transferring vacant and blighted properties into the hands of developers who are committed to serving the public good,” real estate developer Tayib Smith said. “But instead, it has become a bottleneck.” The hearing unfolded as Mayor Cherelle Parker’s administration prepares to release a strategic plan to preserve or build 30,000 housing units over the next four years. The mayor has said she wants to continue using the Land Bank to help grow the city’s supply of affordable housing amid an ongoing crisis. Authorized by state legislation in 2012, the Land Bank is a quasi-governmental clearinghouse that puts vacant, city-owned land into productive use. Read more here.
Source: PlanPhilly; 10/30/2024