Vacancy & Blight
Philadelphia has come a long way since the 1980’s when it welcomed any interested buyer or investment regardless of potential negative impacts. Today Philadelphia understands that an investor that is planning to extract value from the neighborhood and move a property from affordable homeownership to luxury rental is not contributing to the city’s equitable growth. An equitable city cannot sit idly by when the person with the most money always wins, and the loser is the community. By helping community-based organizations compete on a more level playing field for available properties and improving land bank performance in acquiring and selling problem properties, Philadelphia can reactivate its vacant properties more equitably and help to manage neighborhood change by using publicly owned vacant land to meet community needs.