Disappointing Start For Agency Philadelphia Hoped Would Solve Vacant Lots Surplus
By Pat Loeb
PHILADELPHIA (CBS) - The Philadelphia Land Bank's first effort to redevelop a vacant lot has ended disappointingly as it's now pulling a Kensington property off the market after receiving just one bid to develop it.
With a surplus of vacant property to dispose of, the city created the Land Bank late last year, in hopes it could more efficiently get the land back into productive use.
But its first effort -- city owned lots comprising the 1600 block of Bodine Street -- found little interest from developers. Just one proposal came in -- a bid to use the property as a parking lot and garden.
A statement from the executive director says that instead of conveying the land to one owner, it will try to engage the whole community to find the best way to leave it as open space.
A meeting to begin that process is scheduled for Monday.
