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PHILADELPHIA

Investment Opportunities

"Unassisted" Acquisition Pool

In Philadelphia , most of the land used for CDC projects comes from the City's Redevelopment Authority through a time-consuming process in which the City pays acquisition costs. LISC expects that more property will become available under the City's new NTI, but the process will still be encumbered by City systems. To compensate, LISC plans a $1 million recoverable grant pool for use with the Redevelopment Authority to acquire land for CDC projects.

Assistance to develop mixed-use projects in commercial corridors

Philadelphia LISC is currently engaged in the redevelopment of seven neighborhood commercial corridors. Most of these corridors include deteriorated and vacant residential units above commercial space, and financing for the renovation of such mixed-use properties is lacking. To fill the gap, LISC plans to establish a fund either to guarantee loans of for-profit lenders or to invest directly in a pool to make loans to property owners.

To invest in Philadelphia , contact:

Local Initiatives Support Corporation
The Cast Iron Building
718 Arch Street, Suite 500-S
Philadelphia , PA 19106
Phone 215.923.3801
Fax 215.923.3168
Website