Rebuilding Together Alexandria, a volunteer-based, non-profit organization that preserves affordable housing and revitalizes communities, received $1 million from the City of Alexandria’s Office of Housing. These funds will be used to continue the Neighborhood Stabilization Program, which began in 2009.
The new Stabilization Program will allow RTA to purchase foreclosed or short sale properties, rehab them, and sell them to income eligible, qualifying homebuyers. By leveraging volunteer labor and funds through existing city home purchase programs and VHDA reduced rate mortgage financing, Rebuilding Together will be able to help 20-25 families buy homes across the city over the next few years. Interested buyers can find out more information about upcoming homebuyer financial counseling sessions by calling Rebuilding Together at 703-836-1021 or joining the online eNews at www.alexandriava.gov/enews (Affordable Housing Opportunities subscription).