URA Real Estate oversees acquisition, maintenance, and conveyance of our property portfolio. In addition, Real Estate is the URA's representative in the city's land recycling efforts, and it collects and analyzes data to assist with policy formation and decision making.
Building and refining the URA portfolio
URA Real Estate identifies, analyzes, and acquires properties throughout the city for development projects and site assemblage. URA Real Estate also manages the URA's portfolio of over 1,400 properties through leases and short term license agreements.
Adhering to the Pennsylvania Redevelopment Law
As a Redevelopment Authority, the URA is bound by the state's Redevelopment Law. URA Real Estate is responsible for ensuring that property conveyances and dispositions follow the requirements of state redevelopment law. In this role, the URA vets potential redevelopers and land uses, confirms that redevelopment projects are consistent with neighborhood and community needs and goals, and holds redevelopers responsible for completing projects as approved.
Essential to land recycling
Real Estate is also the URA's connection to the city's larger land recycling initiatives. In furtherance of that role, URA Real Estate continues to gather data to help guide strategic planning on acquiring land/structures, identifying nuisance properties, and providing real estate market level analysis.