Daily News | Philly and developer are on brink of a deal on future of UC Townhomes
The drama surrounding the future of the University City Townhomes in West Philadelphia site could be drawing to a close, multiple sources familiar with the negotiations say.
, IBID described her Council legislation as an “illegal and unenforceable” effort to prevent it from “exercising its constitutional right” to sell the property.The judge overseeing the case still needs to sign off on any settlement before it becomes final. Parties on both sides hope he will do so in the coming weeks.
Major University City institutions, including the University of Pennsylvania and Drexel University — along with IBID — would help provide $3.5 million for the displaced tenants, or $50,000 per family. The fund would be administered by a non-profit third party.
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