Volume 17, Issue 3

2006

 

 

This article examines the Neighborhood Transformation Initiative (NTI),
Mayor John F. Street’s plan to revitalize Philadelphia’s distressed neighborhoods
by issuing $295 million in bonds to finance the acquisition of property,
the demolition of derelict buildings, and the assembling of large tracts of land
for housing redevelopment. Despite its resemblance to the discredited urban
renewal programs of the past, this plan offered real potential for reducing
blight by leveraging substantial private investment at a time when public subsidies
for affordable housing and community development have been steadily
diminishing.

However, NTI did not promote equitable development that might have
fostered broader support for an inherently controversial plan. Moreover,
Street’s initial leadership in proposing this bold initiative was followed by a
reluctance to promote NTI aggressively after it was adopted in 2002. The
result was a watered-down effort that achieved some goals but has fallen short
of what might have been accomplished.