NORFOLK, Va. (WAVY) — The City of Norfolk has launched a Vacant Property Online Auction program, which allows residents, developers, builders and investors to purchase and redevelop vacant residential lots.
The program is run by the City of Norfolk’s Department of Housing and Community Development.
All participants must fill out a detailed application and meet certain qualifications. Each property will be awarded to the highest bidder that meets city housing priorities and goals.
The program aims to “transform underutilized properties, increase economic inclusion, strengthen neighborhoods and communities with quality, affordable housing options.”
“The vacant property auction program was developed in response to residents’ demands for a more transparent, process that gives all interested parties the same opportunity to bid for and purchase a city-owned residential lot,” City Manager Dr. Chip Filer said in a city news release. “The buyer benefits with a unique opportunity to invest in a limited resource, the neighborhood benefits from the potential for increased property values which attract residents and businesses, and The City of Norfolk benefits by the transformation of vacant lots to tax generating properties.”
Each quarter, the city will action 10 to 20 vacant properties that can be used for single-family home development. Each property has been reviewed and is building-ready and free of conflicts, the city said.
The Vacant Property Online Auction program is now underway for spring 2022. The property review period is 35 days. This phase ends at noon May 26.
Potential bidders can visit this website to learn more, complete preliminary registration, submit applications, documentation and deposits.
For more details, visit the website,