920 W. Alta Vista
Closed 11/30/2020
Full Remodel
Rental Assistance Demonstration
RAD is a program of the U.S. Department of Housing and Urban Development (HUD) that seeks to preserve public housing by providing housing agencies with access to federal, state and local funding to make needed improvements to properties. In addition, the public housing units at the property would convert to Project-based Section 8 rental assistance.
RAD Communities
Foothills Village
Monroe Gardens
Formerly A.L. Krohn
1441 E. Monroe Street
Closed 10/1/2019
Demolition of 38 PH units and construction of 78 new affordable units
McCarty on Monroe
1130 E. Monroe Street
Closed 11/25/2020
Aeroterra Senior Apartments
675 N. 16th Street
Closed 7/26/2021
Washington Manor
1123 E. Monroe Street
Closed 10/16/2019
Pine Tower
2936 N. 36th Street
Closed 11/23/2022
Remodel
- Foothills Village
- Monroe Gardens
- McCarty on Monroe
- Aeroterra Senior
- Washington Manor Senior
- Pine Tower Senior
Five Things You Should Know About Public Housing Conversions
- RAD allows PHAs to leverage public and private debt and equity in order to reinvest in the public housing stock. The backlog of public housing capital needs is estimated to be $115 billion when analyzing the approximately 300 RAD transactions that closed over the last three years.
- In RAD, units move to a Section 8 platform with a long-term contract that, by law, must be renewed in perpetuity. A Use Agreement is also recorded under RAD further enforcing HUD’s long-term interest. This ensures that the units remain permanently affordable to low-income households.
- Residents benefit from a right of return, a prohibition against re-screening, and robust notification and relocation rights. Residents continue to pay 30% of their adjusted income towards the rent, maintain the same basic rights as they possess in the public housing program, and gain a new option to request tenant-based assistance if they wish to subsequently move from the property.
- RAD maintains the ongoing public stewardship of the converted property through clear rules requiring ongoing ownership or control by a public or non-profit entity.
- RAD is cost neutral, relying on shifting existing levels of public housing funds to the Section 8 accounts as properties convert.