Cain Capital Group, LLC
Disposition to Cain Capital Group, LLC (owner Derr
3 housing units sold, across 3 properties · Council District 3 · Cain Capital Group, LLC
What is missing from the record
Every step has a date on record. Nothing is missing from the records we hold.
Where this project stands
Five steps, from the Board agenda to the closing. A disposition is the sale or transfer of a Land Bank property. The Council step is City Council's approval of the sale, which comes after the Board's approval.
- 1. On a Board agendaDoneNov 12, 2024
- 2. Board approvalDoneNov 12, 2024
- 3. Council approval of the dispositionDoneJan 30, 2025
- 4. Deed into the Land BankDoneDec 9, 2015 to Dec 22, 2025
- 5. ClosingDoneApr 28, 2026
Board hearings
One row for each Board hearing where this project was on the agenda. Fewer than six approving votes means no decision was reached; it is not a denial. Speakers and letters are public comments on the item.
| Date | Agenda item | Outcome | Vote as recorded | Public speakers | Letters |
|---|---|---|---|---|---|
| Nov 12, 2024 | V.A.1 | Approved | unanimous | 2 | 5 |
City Council
City Council resolutions that name this project's properties, from Council's Legistar records. Earlier resolutions often moved the lots into the Land Bank; they are not Council's approval of this sale (step 3 above).
| Resolution | Sponsor | Status | Introduced | Adopted |
|---|---|---|---|---|
| 240980 | Councilmember Gauthier | adopted | Oct 24, 2024 | Oct 31, 2024 |
Closings
From the Land Bank's settlement records.
| Purchaser | Closing date | Price | Appraised value | Units | Council resolution |
|---|---|---|---|---|---|
| Cain Capital Group LLC | Apr 28, 2026 | $3,000 | $165,000 | 3 | 250014 |
Days from the first Board approval to each closing: 532.
People and organizations
- Applicant
- Cain Capital Group, LLC
- Council resolutions naming these properties, sponsored by
- Jamie R. Gauthier (resolutions 240980)
Public comment
A position is counted only where the person stated one at a hearing or in a letter. Letters read aloud at a meeting are staff summaries, not the writer's own words. Officials and people speaking for an organization are named; residents who spoke for themselves are counted, not named.
Across all hearings: 2 public speakers and 5 letters, with 7 statements of support and 0 of opposition.
| Named commenters (8 in all, residents included) | Stated position | Speaking for (organization) |
|---|---|---|
| Dave Langlieb | support | Philadelphia Accelerator Fund |
| Mo Rushdy | support | |
| Jeremy Blatstein | support | |
| Herbert Wetzel | support | |
| Ken Weinstein | support | Jumpstart Philly |
| Jean Friedman-Rudovsky | support | Resolve Philly |
From the record
Passages quoted from the Board's minutes, packets and transcripts. 6 of 15 shown.
Board’s approval to convey 3862 and 3864 Pennsgrove Street and 1118 N. 39th Street in the 3rd Council District to Cain Capital Group, LLC. The applicant proposes to develop three (3) single-family homeownership units, each of which will be two (2) stories, with an unfinished basement and front porch, containing three (3) bedrooms and two (2) bathrooms at an average of 1,050 square feet each. They will be sold to purchasers with a household income at or below 100% AMI for a maximum sales price of $280,000. The homes will be eligible for the Neighborhood Preservation Initiative’s Turn the Key P…
Minutes · Nov 12, 2024, item V.A.1 · packet p. 7 · PLB Board Package for 12.10.2024 Board Meeting.pdf
Agenda · Nov 12, 2024, item V.A.1 · packet p. 1 · PLB Board Package for 11.12.2024 Board Meeting.pdf
All in favor say aye. (Aye.) CHAIRMAN WETZEL: Opposed nay. (No response. } CHAIRMAN WETZEL: The ayes have it.
Motion · Kelvin Jeremiah · Nov 12, 2024, item V.A.1 · packet p. 19 · PLB Board Package for 12.10.2024 Board Meeting.pdf
She's writing to express her strong support for this new construction project in the Parkside section of West Philadelphia.
Statement · A resident · Nov 12, 2024, item V.A.1 · packet p. 18 · PLB Board Package for 12.10.2024 Board Meeting.pdf
… her strong support for her former colleague, Derrick Cain, and the proposal submitted by Cain Capital Group
Statement · Jean Friedman-Rudovsky, Resolve Philly · Nov 12, 2024, item V.A.1 · packet p. 19 · PLB Board Package for 12.10.2024 Board Meeting.pdf
He's writing to express his strong support for Mr. Cain and the proposal submitted by Cain Capital Group
Statement · Ken Weinstein, Jumpstart Philly · Nov 12, 2024, item V.A.1 · packet p. 18 · PLB Board Package for 12.10.2024 Board Meeting.pdf
Properties (3)
| Address | OPA account number | Status | Deed into the Land Bank | Closing date | Entered the Land Bank via |
|---|---|---|---|---|---|
| 1118 N 39TH ST | 243225310 | Closed | Dec 22, 2025 | Apr 28, 2026 | RDA |
| 3862 PENNSGROVE ST | 243165410 | Closed | Dec 9, 2015 | Apr 28, 2026 | PHDC/PHA/other public |
| 3864 PENNSGROVE ST | 243165510 | Closed | Dec 22, 2025 | Apr 28, 2026 | RDA |
Sources: Board minutes and packets; PHDC workbook; Council (Legistar); Transcript. Built from the Land Bank Board's minutes, packets and transcripts, the Land Bank's settlement workbook, and City Council records.