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A dozen Northside homes benefit from Neighborhood Stabilization Program


View 2010 Neighborhood Stabilization Program houses in a larger map

The city of Richmond has been allocated $2.4 million in Neighborhood Stabilization Program funds from the Virginia Department of Housing and Community Development to address foreclosed and abandoned properties in the Highland Park, Barton Heights, and Church Hill neighborhoods.

The properties have been “acquired” and are undergoing renovations. After the renovations are completed they will be made available to low-income homeowners or renters. Here’s how the release puts it:

These properties will either be sold for homeownership or rented to persons whose total income is at or below the 120% Area Median Income (AMI). At least six homeownership opportunities will be created for persons who are at 50% or less of the AMI. Six rental units are proposed to be made available to low income persons who are at 80% or less of the AMI.

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