More Than 100 Tax-Delinquent Philly Properties Hit the Auction Block - NBC 10 Philadelphia

More Than 100 Tax-Delinquent Philly Properties Hit the Auction Block

$1.8 Million Raised in Philly Building & Lot Auction

Over 100 buildings and lots went to auction Friday and raised almost $1.8 million for the city of Philadelphia. NBC10's Deanna Durante is in North Philadelphia with a look ahead at what might replace the neighborhood eyesores. (Published Friday, June 12, 2015)

A sweeping auction of more than 100 vacant lots in several Philadelphia neighborhoods aimed at putting delinquent properties back onto the tax rolls took place Friday.

The city, the Philadelphia Redevelopment Authority and the Philadelphia Housing Development Corporation partnered to set up the auction, according to a news release.

More than 100 properties, many of which are single vacant lots for residential use and maintained by the city, were on the auction block. All of the properties are located within the First Council District, which runs along the I-95 corridor from Frankford in the Northeast south to Oregon Avenue in South Philadelphia. The district covers swaths of Kensington, Port Richmond, Northern Liberties, Pennsport and Center City.

Many of the city's neighborhoods are plagued with vacant lots that dot the blocks, becoming eyesores.

"We've taken note that the Philadelphia Housing Authority has successfully utilized the auction method for selling surplus properties in an expedited manner,” said Squilla. "It is our hope that we cannot only raise funds but also breathe new life into the areas where these properties are situated by bringing in new investment and development."

A Florida-based auctioneer, Fisher Auction Company, was brought in to hold the auction. Fisher, according to a news release, has handled high-profile auctions including those of multi-million-dollar mansions and private islands.

The properties up for auction in Philadelphia on Friday ranged in price from $2,450 to $52,500.