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Virginia housing community where Pharrell lived to be sold

By The Associated Press

VIRGINIA BEACH, Va. — A real estate developer is looking to buy and renovate the Virginia housing community where singer Pharrell Williams lived as a child.

Atlantis Preservation LP, an entity of the New York-based company Fairstead, has its eyes on the Atlantis Apartments complex.

The Virginia Beach Development Authority on Tuesday approved up to $39 million in bond sales which will in turn fund a government-backed loan for the affordable housing project.

The complex is currently owned by a real estate firm based in New Jersey.

The Virginian-Pilot reports the sale is expected to close in the spring. The city council votes on the project next month.

Should you buy a house with cash?

By U.S. News & World Report
High mortgage interest rates may have you exploring alternative ways of buying your home that don't require a loan. And while the competition for a new home may not be what it was in 2021, for the right home you may still need to work to get a leg up on the competition. If you have the means, an all-cash offer is a great way to fast-track a deal and avoid the additional costs that come with a mortgage. A seller is more likely to accept your offer, and the success of the deal isn't reliant on a lender's OK following an appraisal. You'll also own the home outright after the transaction with no mortgage to pay each month.
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