VOICE Wins $30 Million for Foreclosure Rehab Pilot in Virginia

Housing
Friday, September 13, 2013 - 14:45

VOICE Wins $30 Million for Foreclosure Rehab Pilot in Virginia

VOICE's Bank & Foreclosure Accountability Campaign secured $30 million in commitments for their Prince William Restoration Fund from Bank of America, General Electric, and VA Housing Development Authority (VHDA).  The fund will support a pilot that would:

(1) rehab 100 abandoned / blighted properties in neighborhoods devastated by foreclosure for affordable homeownership & rental housing,

(2) allow for the development of 1,500 units of rental housing over the next 15 years in Northern Virginia for families.  

VOICE announced the commitments at 500+ person action in Woodbridge VA with Senator Mark Warner and representatives from Bank of America, General Electric, and VHDA.  When JPMorgan refused to participate in the restoration fund, VOICE organized a direct action at their DC Private Banking Offices with 60 leaders. VOICE's pioneering work has garnered significant national media coverage by USA TodayCNN, and the Washington Post.