Home > Blogs > Pennsylvania > Philadelphia County > Philadelphia > Finally, a vacant land process for Philadelphia ... or maybe not. 
131,333 views

Philly Urban Living

Philly Urban Living - Local | Real Estate | News | Development

By Timothy M. Garrity | Broker in Philadelphia, PA

Finally, a vacant land process for Philadelphia ... or maybe not.


40,000 parcels.

That's how many pieces of vacant/absent real estate Philadelphia currently has. 25% of them are owned by the city, with the remaining 75% owned privately. That's a mind-blowing number, but once you stop and think about all of the vacant residential, commercial, and industrial pieces combined, I can believe it. Philly's a big city.

The Nutter Administration's current land bank proposal is only supposed to deal with the land the City of Philadelphia currently owns (which is 25%), but it's still a huge step in the right direction. That's 10,000 parcels that could be sold and either redeveloped or repurposed sooner rather than later.

Since it is costing upwards of $20M per year for the city to maintain these parcels, it only makes sense to start unloading them, making money on the sale, and saving money on maintenance.

Comments

By Steve Quintana,  Mon Apr 16 2012, 08:36
One way we deal with vacant land in the Greater Albuquerque area is to match local growers in need of space with local owners who have available land. Here is is our idea of a land bank: http://www.mrcog-nm.gov/agriculture-mainmenu-55/land-link-mainmenu-293
By Timothy M. Garrity,  Mon Apr 16 2012, 08:47
Great stuff, Steve.

That may work to an extent, but Philadelphia's land issues are probably a lot more complicated than ABQ's. I've been to ABQ before, and it's a great city. It's just that its size, scope, and political history are far overshadowed by Philadelphia's over 300 years of urban politics.

But it's good to see that other cities face similar issues.

POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer