PHILADELPHIA — As many cities look for ways to house their neediest residents, officials here on Monday announced a plan to increase this city’s stock of affordable housing by using tax incentives and bond proceeds to redevelop 1,500 vacant, city-owned properties over the next two to three years.

Darrell L. Clarke, president of the City Council, said that the city would issue $100 million in bonds and leverage an additional $200 million in state and federal tax subsidies to pay for the program. The plan is intended to help offset a dwindling supply of low-income housing in a city where some major residential and commercial building projects have recently been announced in upscale areas.

If approved by the full City Council and the administration of Mayor Michael A. Nutter, the plan would, through new construction or rehabilitation of existing buildings, provide affordable rental units and properties to purchase for households whose incomes are 80 to 120 percent of the area’s median income.

Typically, cities use a combination of federal and state tax credits, philanthropic assistance, general obligation bonds or tax levies to subsidize housing for low-income residents, said Erika C. Poethig, the director of urban policy initiatives at the Urban Institute.