The Philadelphia City Council has authorized the Philadelphia Land Bank to transfer ownership of 623 Rear N 55th Street in the 4th Councilmanic District. This decision enables the development of homeownership housing on the site. The homes built on this property will be eligible for participation in the Neighborhood Preservation Initiative’s Turn the Key program, which aims to increase affordable homeownership opportunities in the city. The resolution aligns with Chapter 16-700 of The Philadelphia Code and Act 153 of 2012, ensuring that the land is disposed of in accordance with the legal framework governing the Land Bank’s operations.
This decision supports Philadelphia’s affordable homeownership initiatives by repurposing publicly owned land for residential development. By facilitating participation in the Turn the Key program, the city aims to increase access to affordable housing for prospective homeowners.