Dispatched

Affordable Homeownership Opportunities | News Release | City of Alexandria

 

Affordable Homeownership Opportunities – New Listing

The City of Alexandria Office of Housing is marketing a Workforce Affordable Homeownership Unit located at 3909 Old Dominion Boulevard in Alexandria Crossing. The Alexandria Crossing community was constructed in 2010 and features 9 Workforce Affordable Homeownership Units. This two bedroom, one bath unit is now priced at $299,990 and the monthly community fee is only $164. This property is available to first-time homebuyers only (no ownership in the most recent three year period).

Income eligible households may be eligible for up to $50,000 in downpayment and closing cost assistance through the Flexible Homeownership Assistance Program (FHAP). Higher income homebuyers (up to $104,250 for a 2 person household or up to $130,320 for larger households) are also eligible for this purchase. Unlike other City-assisted properties, potential purchasers of the Alexandria Crossing unit are not required to be currently working or residing in the City of Alexandria. No FHAP assistance can be provided to higher income purchasers or to households who do not currently live or work in the City.

As a reminder, the first drawing for an Affordable Set-aside Homeownership Unit at Cambria Square will be held at 5:00 pm on July 22.  The Office will continue to accept applications for the remaining three units until the second drawing, expected to be held in October. For detailed guidance on the lottery process and eligibility guidelines for the four set-aside homes, visit the Office of Housing webpage.

For more information about affordable homeownership opportunities, including the upcoming Cambria Square development, visit the Office of Housing webpage or call 703.746.4990.

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