Two lucky residents are soon-to-be owners of a new home on in the North End of New Bedford. Lisa Sylvia and Wren Charbonneau were selected in a lottery outside the two family home on Leland St. Thursday afternoon.

The lottery was part of the city's "Neighborhoods First" initiative.

Sylvia says she and her children felt lucky...

The initiative is sponsored by the city's Office of Housing & Community Development and Community Action for Better Housing, Inc. Local banks are also involved with providing prospective families with affordable low-rate mortgages.

The home underwent a six month renovation with funding from the federal government.

The Office of Housing & Community Development will also contribute 5% of the purchase price to assist with down payment and closing costs.