Own a Home in Alexandria for $175K: Lottery Open for Affordable Units at Dylan Condominiums
Opportunity closes on December 15 at 11:59 p.m.
ALEXANDRIA, VA – Last year, The Zebra first reported on the Dylan Condominiums in Potomac Yard. Earlier today (Nov. 18), it was announced that the city’s Office of Housing is offering what they call “Affordable Home Ownership Units” at the complex. In all, nine units will be available as part of a lottery program, running now through December 15 at 11:59 p.m.
According to the city’s Homebuyer Resouces page, those interested must:
1) Be first-time homebuyers, who have had no interest in owning a home in the last three years;
2) Live and work in Alexandria; and
3) Have an annual household income of up to 100 percent of the area median income, before taxes.
Sale prices and projected monthly fees are as follows:
A. One bedroom and one bath at $175,000, with a monthly condo fee of $406
B. Two bedroom and one bath at $225,000, with a monthly condo fee of $510
C. Two bedroom and two baths at $225,000, with a monthly condo fee of $630
D. Three bedroom and two baths at $275,000, with a monthly condo fee of $630
The city has chosen to select purchasers through a lottery because they predict there will be high demand for the units. For consideration, submit the following by December 15:
- The city’s homebuyer preescreening form (link HERE)
- A copy of the mortgage preapproval letter
- A copy of the Virginia Housing training certificate (link HERE)
The condos, located at 701 and 737 Swann Ave., near the Potomac Yard Metro Station and more, will be ready to occupy by March 2023.
To find out more, visit alexandriava.gov/housing-services/homebuyer-resources.
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