The Philadelphia Housing Authority announced Tuesday that it would auction off around 200 vacant and blighted scattered sites, in partnership with Max Spann Real Estate and Auction Company. The auction will take place at 10 a.m. on Tuesday, July 16th, at 3801 Market Street.
PHA has been working to dispose of its scattered sites. It currently controls 4,000 such homes, down from a peak of 8,000, according to Kelvin Jeremiah, the Authority’s president and CEO. Around 1,700 of the sites are vacant, Jeremiah said. A 2011 auction saw the sale of 341 PHA scattered sites and earned the Authority around $6.4 million, according to a press release. The Authority hopes to bring in between $3 million and $4 million through the July auction for its own operating budget.
The auction was announced Tuesday morning in front of one of the houses to be offered, a dilapidated, boarded-up, brick row home on the 2100 block of North Marston Street, in Strawberry Mansion. Jeremiah said the property is exemplary of the types of homes that will be auctioned in July, a map of which can be seen here.
The homes will be auctioned individually, said Max Spann, Jr., president of the Max Spann auctioning company, and anyone may bid. Spann said previous auctions of similar properties saw a range of sale prices from $6,000 to $300,000. The property where the announcement was made, he said, would likely be on the lower end of that spectrum.
Hopefully this will help boost PA real estate and get some people into these houses! For additional resources, visit www.phillyliving.com.
ReplyDelete-Jackie