Neighborhood Stabilization Program


About The Program


The Neighborhood Stabilization Program (NSP) was created in 2008 as part of the government’s Housing and Economic Recovery Act. The NSP allows municipal housing authorities such as SHA to use federal funds to acquire and rehabilitate properties that had been foreclosed upon.

Housing authorities can resell a property in order to refund the program, or they can keep the property in their portfolio, as a rental property. To date, SHA has purchased and rehabbed 7 properties; some have been sold and some are used as rental properties.

24 Howard Street


Began construction in Fall 2012 and enlisted the students from Sanford Vocational Building Construction Program. Completed in the Summer of 2014. This property remained in SHA's portfolio.

  • Single Family, 3 bedroom house
  • Annual Property Taxes: $3,422
  • Program: Neighborhood Stabilization

Before

Howard Street Before

After

Howard Street After

28 Prescott Street


Constructed during the Summer of 2011, 28 Prescott was completely demolished and rebuilt. This property remained in SHA's portfolio.

  • Multi-family
  • Two, 3 bedroom apartments
  • Annual Property Taxes: $4,657
  • Program: Neighborhood Stabilization

Before

Prescott Street Before

After

Prescott Street After

14 Sherburne Street


14 Sherburne Street was purchased in the Spring of 2010 for rehabilitation. Construction was completed in the Summer of 2010. This property remained in SHA's portfolio.

  • Multi-family
  • Two, 2 bedroom apartments
  • Annual Property Taxes: $3,360
  • Program: Neighborhood Stabilization

Before

Sherburne Street Before

After

Sherburne Street After

6 Kirk Street


6 Kirk Street was purchased, rehabed, and sold to refund the NSP.

Before

6 Kirk Street Before

After

6 Kirk Street After

7 Kirk Street


7 Kirk Street was purchased, rehabed, and sold to refund the NSP.

Before

7 Kirk Street Before

After

7 Kirk Street After

19 North Avenue


19 North Avenue was purchased, rehabed, and sold to refund the NSP.

Before

19 North Avenue Before

After

19 North Avenue After