Statement on URA For Sale Signs

Recently the URA posted for-sale signs on its available properties across the City, totaling nearly 600 parcels of mostly vacant land. This decision was rooted in a strategy of radical transparency; an effort to assist neighborhood residents, who may be unaware of URA land holdings in their community, to learn more about the available opportunities to purchase real estate in our portfolio. We believed this was a step towards a more equitable process, as private developers and well-established organizations are well-versed in how to find our available properties.   

This decision to expose our inventory to a wider audience and our hope to generate more diverse interest in property ownership and development opportunities left our sales process unchanged. Any potential sale of property remains subject to the standard URA disposition process— requiring multiple public board votes and community input. Additionally, by installing signs we wanted to ensure our portfolio was clearly labeled so the community could hold the URA accountable for the property conditions.   

Our commitment and core values remain unchanged as evident by the investment we are currently making in the stabilization of multiple properties to lower the barrier of entry and make redevelopment opportunities more equitable.   

Since placing the signs, it has become clear that our outreach and engagement strategy ahead of this broad and comprehensive action was inadequate. The signs were especially problematic in communities where we have struggled to rebuild trust.     

In recognition of this reality, we have decided to temporarily remove the recently placed signs. We look forward to regrouping and reengaging on this strategy to elevate transparency around URA-owned properties, while being more mindful of the impact it has on our communities. 

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