Weymouth Mayor Sue Kay and the Neighborhood Housing Services of the South Shore will hold a ribbon cutting on Thursday for a newly renovated home which will be dedicated to returning veteran and his or her family.

The Neighborhood Housing Services purchased the foreclosed two-family home on Lake Street and gutted the property, transforming it into a handicapped accessible, four-bedroom single-family home. A small studio apartment located at the rear the property was also renovated and rented to an individual veteran.

The affordable housing agency will work with the Town of Weymouth and its Department of Veterans Services to identify a local veteran and family to occupy the four-bedroom rental property.

Robert Corley, executive director of Neighborhood Housing Services of the South Shore, said dedicating the home to a returning veteran is one of the best ways today to honor them for their service and sacrifices.

“Today’s returning heroes aren’t the 20-year-old young men who came home from World War II," Corley said in a written statement. "Many of them are older and have families, and homes like this one will help make their transition back into civilian life much easier.”

According to Corley, the majority of funding used to redevelop both properties came from Weymouth’s portion of federal HOME funds through the South Shore HOME Consortium.

“This flexible funding from the federal government is vital in the creation of homes like this for returning veterans,” he said.

This is the second South Shore home Neighborhood Housing has recently renovated for a returning veteran’s family. On September 11, the agency held a ribbon cutting on a four-bedroom Quincy home as part of the city’s National Day of Service and Remembrance to commemorate the 9/11 attacks.  

In October, Neighborhood Housing dedicated its largest project ever: a 24-unit apartment building in Quincy that will provide high-quality affordable housing to both individuals and families.

Thursday's ribbon cutting will be held at 1:15 p.m. at the home on 63 Lake Street.