The Neighborhood Stabilization Program (NSP) is a federally-funded initiative established by the Housing and Economic Recovery Act of 2008, signed into law by the President on July 30, 2008. Congress appropriated $3.9 billion in federal funding to help states and units of local government to stabilize neighborhoods most affected by home foreclosures.
This formerly foreclosed, substandard property was acquired by the Arlington Housing Authority in June 2010 using Neighborhood Stabilization Program funds. The existing structure was demolished and the Arlington Housing Authority, as the City’s Developer for the Neighborhood Stabilization Program, began plans to redevelop the property for a new single-family home for a qualified buyer.
Included in the design - three bedrooms, two full baths, combined family room, and open kitchen and dining.