PHA Looks To Auction Off Dozens Of Properties To Potential Investors

PHILADELPHIA (CBS) — The Philadelphia Housing Authority is on the lookout for buyers to take greater than 50 rundown properties off its arms.

The properties, a part of PHA’s scattered websites stock, are principally boarded up shells or empty tons. However President and CEO Kelvin Jeremiah says they nonetheless have worth when you’re prepared to take a position and rebuild.

“The expectation can be that inside three years of buying the property you’d have it restored its youth and the town can begin amassing tax revenues on it,” he stated.

The public sale will happen on Thursday at 2501 East Ontario Road.

“As a result of it’s an public sale I feel you will have properties beginning at a few thousand dollars and it might as much as as excessive as $one hundred,000-$200,000,” he stated.

And you will get a take a look at the properties on the auctioneer’s web site

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