Neighborhood Stabilization Program (NSP)

The U.S. Department of Housing and Urban Development (HUD)’s Neighborhood Stabilization Program provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state, certain local communities, and other organizations to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. Neighborhoods with a high percentage of foreclosures, defaults, and subprime loans, and where there is homebuyer demand have been targeted to receive assistance. This program also targets low, moderate and middle-income homebuyers and offers tangible assistance to help with making the homes affordable to these homebuyers.

The City of Norfolk received funding from Virginia Department of Housing and Community Development (DHCD) and has contracted with the Norfolk Redevelopment and Housing Authority (NRHA) to undertake the administration of the program in the Fairmount Park, Coleman Place, Estabrook, Ballentine Place and Overbrook neighborhoods. View a location map of projects. The City has been able to purchase five (5) vacant and blighted foreclosed houses and with program income from the sell of these properties, the City expects to purchase and rehabilitate three (3) additional properties. Watch the video on the Neighborhood Stablization Program for Norfolk.

Through a partnership with Tidewater Builder’s Association’s (TBA) pre-apprenticeship program, known as the Building Trades Academy (BTA), at-risk young adults were able to benefit from obtaining construction skills and work force development while providing the labor for the rehabilitation of one home as part of the NSP Program. After completing the class, students will be placed in jobs by TBA. The rehabilitation of the other properties is being undertaken by private residential contractors through competitive bid processes. By using the private sector, the program is supporting economic viability of small businesses and protecting and creating jobs.

Photo Gallery

Ballentine Blvd. Coming Soon	Bapaume Coming Soon	Minnesota Ave.	Nottaway Place	Tait Terrace