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Philadelphia Land Bank to Convey 1520-40 & 1600-20 Venango Street Under Turn the Key Affordable Housing Program

  • When: 2025/05/08
  • Address: 1520-40 & 1600-20 Venango Street, Philadelphia, PA
  • City: Philadelphia
  • State: PA
  • Category: City Properties
  • Subcategory: Land Sale
  • Asset Class: Detached Housing
  • Property Type: Single Family Residential

Council Resolution No. 250510 authorizes the Philadelphia Land Bank to convey title to 1520-40 and 1600-20 Venango Street for participation in the Neighborhood Preservation Initiative’s Turn the Key program under revised project requirements. The resolution increases the sale price for each unit to $280,000 and raises income eligibility to at or below 100% of the area median income (AMI). It directs the Land Bank to transfer the properties pursuant to Chapter 16-700 of the Philadelphia Code and Act 153 of 2012. The Land Bank Board determined that the revised terms are in the best interest of the agency and will facilitate the sale of fully renovated homes to income-qualified buyers. Passage of this resolution updates Council Resolution No. 240949 to reflect the new pricing and affordability levels. The decision supports the city’s affordable homeownership strategy and leverages the Turn the Key program to revitalize underutilized properties in the 8th Councilmanic District. By setting clear sale conditions and eligibility parameters, the resolution streamlines the disposition process and ensures alignment with federal and state law.

Source

Ownership - Philadelphia Land Bank