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Federal Way renovates homes in Westway neighborhood
From staff reports:
The Westway neighborhood has struggled during the housing crisis, and Federal Way is helping the neighborhood fight back.
Federal Way is partnering with Habitat for Humanity to purchase and repair 14 foreclosed homes in the Westway neighborhood. The homes will be sold to low- and middle-income buyers.
On July 14, a ribbon cutting ceremony celebrated the first completed home purchased by a family. The home is located at 32804 22nd Ave. SW in Federal Way.
The Neighborhood Stabilization Program is funded through a $1.69 million Department of Housing and Urban Development grant. The money is intended to assist cities in keeping low- and moderate-income neighborhoods affordable and livable.
The city plans to have all 14 homes renovated and sold by March 2014. Proceeds from home sales will be re-invested in further housing stabilization efforts, maximizing the positive impact of the federal grant.
“Having a large number of empty, deteriorating structures can start a downward spiral in any neighborhood. That negatively affects surrounding neighborhoods and property values,” said Mayor Skip Priest in a news release. “Turning around this many foreclosed homes will give the greater Westway neighborhood positive momentum.”