MEMPHIS, Tenn. — Home ownership may be moving one step closer for many Memphians as a new Section 8 homebuyer program aims to build affordable housing in the Bluff City.

At a time when it seems owning a piece of the American dream is not a reality for many Mid-Southerners, help could be on the way for some Memphians hoping to turn into homeowners and helping transform the city.

“In order for us to have the city that we want to have we need to have stable neighborhoods and I think nothing speaks stability like home ownership,” said City Council Chairman Martavious Jones.

Home ownership in Memphis could come in the form of a new Section 8 homebuyer program. City Council members who make up the Housing and Community Development Committee asked questions about the Housing Choice Voucher Program.

It would allow Memphians currently utilizing Section 8 housing vouchers to qualify for buying a home.

“There are 630 housing authorities throughout the United States that already have this program and I’ve worked with the Baltimore program when it first started. So yes,” said Leroy Jackson with the Housing Voucher Choice Program.

The program aims to build affordable, quality housing that can be a wealth-generating asset for Section 8 housing voucher recipients. The council was also told there’s a possibility a factory could be coming to Memphis to produce prefabricated homes.

“Not only are we going to bringing housing  here to the city, but we’re taking this government money and we’re also going to put a plant here because you guys have a need here,” said Jackson.

Under this program, Section 8 vouchers would no longer be excluded from home ownership, creating a new opportunity for individuals and families to obtain mortgages and possibly transform their lives.

“Even though we’re not dealing with MHA, even though we’re not dealing with Shelby County land bank, we have colleagues across the street that we can encourage them to get on board with this. This is a win for the whole city,” said Councilwoman Michalyn Easter-Thomas.

The Housing Choice Voucher Program still has to be approved by the full council.