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New Affordable Homeownership Opportunity at The Fountains in Alexandria | News Release | City of Alexandria

The City of Alexandria Office of Housing is now assisting with marketing a three bedroom, two and a half-bath condominium unit at The Fountains Condominium.  The restricted resale price of this unit is $201,052 and the monthly condominium fee is $857. Click here for more details on this property.  

Purchasers may be eligible for up to $50,000 in no-interest, deferred payment financing through the Flexible Homeownership Assistance Program (FHAP) and must be first-time homebuyers, live or work in the City of Alexandria, and must have a gross annual income within Department of Housing and Urban Development limits.  Current income limits and assistance amounts can be found on the Office of Housing webpage.

The Office is also continuing to market a Workforce Affordable Homeownership Unit located at 3909 Old Dominion Boulevard in Alexandria Crossing. 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. 

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

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