The Alexandria Housing Development Corporation is partnering with the City of Alexandria’s Office of Housing and Rebuilding Together Alexandria to acquire, rehabilitate, and re-sell four foreclosed homes in the City using HUD funds through the Neighborhood Stabilization Program administered by the Virginia Department of Housing and Community Development.
The first property, acquired using NSP funds and located in the Hume Springs community, was purchased today, October 27, and Rebuilding Together Alexandria is starting immediately with rehabilitation work on this home. Upon rehabilitation, this home, and others acquired through the program, will be sold to qualified low and moderate income homebuyers. The City will provide homeownership assistance loans to eligible households to make the homes even more affordable and preserve their long term affordability for future buyers.
