Mayor Cherelle Parker unveiled a plan Monday to use $1 billion in city-owned land to support her H.O.M.E. initiative, aiming to create and preserve 30,000 housing units. In a nearly 90-minute City Council speech, Parker proposed streamlining Philadelphia’s Land Bank acquisitions and expediting land transfers to pre-approved developers for affordable housing. Her budget plan includes borrowing $800 million, with state and federal funds bringing the initiative’s total value to $2 billion—the largest housing investment in city history. The plan targets 13,500 new homes and the preservation of 16,500 existing units.

*Article courtesy of Philadelphia Business Journal

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