After title to the land and property required for the improvement and to the additional land and property shall have vested in the city, the additional land and property may be either held and used by the city, or sold or leased by it.
Such additional land and property may be held and used by the city for any purpose authorized by existing law, or the council may authorize the erection thereon of buildings or other structures, and the occupation and use thereof by the city for any purpose which the city is authorized to use the same, or the leasing or sale thereof, either in whole or in part.
The council shall provide that such additional land and property, and any buildings or other structures erected thereon by the city, shall be sold or leased subject to such restrictions, covenants, or conditions as to location of buildings with reference to the land and property acquired for the improvement, or the height of buildings or structures, or the character of construction and architecture thereof, or such other covenants, conditions, or restrictions as will preserve or enhance the benefit to the public of the land, any property actually needed for the public use provided for in section one of this act, and such additional land and property shall be sold or leased subject to such restrictions, covenants, or conditions as may be prescribed, which shall be set forth in the instrument of conveyance or lease.
53 P.S. § 13808