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City Council Approves Sale of 29 Land Bank Properties at $280K to 100% AMI Buyers under Turn the Key Initiative

  • When: 2025/05/08
  • Address: Multiple properties in the 8th Councilmanic District, Philadelphia, PA
  • City: Philadelphia
  • State: PA
  • Category: City Properties
  • Subcategory: Land Sale
  • Asset Class: Land
  • Property Type: Covered Land & Land Banking

The Philadelphia City Council authorized the Philadelphia Land Bank to transfer title to 29 vacant parcels in the 8th Councilmanic District under the Neighborhood Preservation Initiative’s Turn the Key program. The approved amendment revises the sale price for each unit to $280,000 and increases the affordability level to at or below 100% of Area Median Income (AMI). The properties—ranging from East Ashmead, Bringhurst and Earlham streets to Germantown Avenue, Musgrave and Wakefield streets—were previously approved under Resolution No. 240773. Disposition will proceed in accordance with Chapter 16-700 of The Philadelphia Code and Act 153 of 2012. The Land Bank Board determined that revised sale terms will best serve neighborhood stabilization and homeownership goals.

Source

Applicant - Philadelphia Land Bank


Ownership - Philadelphia Land Bank