The Philadelphia Housing Authority will auction 400 properties next week as a way to unload extra inventory and create development opportunities in the city — mostly in North Philadelphia, where a bulk of the properties are.
But for neighbors of those properties, the auction provides a limited chance at homeownership. Most of the properties have been bundled, as Philadelphia Neighborhoods reports, and targeted to developers, not the average resident looking to buy a home or expand their own.
We’ll get more details on the auction from Lizz Fiedler ahead of the Nov. 16 event. Until then, check out the PN video as PHA and a real estate broker weigh the pros and cons of the bundles.
A second auction, for individual properties, has been scheduled.