The Suffolk Redevelopment and Housing Authority (SRHA) will utilize funds for the purchase of qualifying residential properties that have been foreclosed upon and are currently held under the ownership of a financial lending institution (Real Estate Owned or REO) for the purpose of creating affordable dwelling units for resale to qualifying individuals in the low, moderate, and middle income range.
The long-term benefits of the NPP are:
Stabilization of neighborhood housing inventories
Provision of affordable housing options to first time home buyers
Establishment of an inventory of dedicated affordable housing units within close proximity to job centers
For more information please contact Teresa Deal, Community Development Program Specialist at 757-925-6413.