King Square was the development of 57 family units on land adjacent to the Westbury HOPE VI site. The 6 acre land was assembled with Community Development Block Grant funds and is owned by the Portsmouth Redevelopment and Housing Authority (PRHA). The PRHA has entered into a ground lease with King Square 2006 Limited Partnership for 35 years. The units will consist of 12 duplex units, 3 triplex units and 4 sixplex units.
The project was financed with tax-exempt bonds purchase by MMA Financial and 4% low-income housing tax credits. The units will have Department of Housing and Urban Development Project Based Section 8 Housing Choice Vouchers for families below 60% of the area median income.