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HUD Announces RAD Investment Surpasses $15 Billion Mark

Wednesday, October 19, 2022 - 12:15PM

The U.S. Department of Housing and Urban Development’s (HUD’s) Multifamily Housing Office of Recapitalization today announced that construction investment in Rental Assistance Demonstration (RAD) properties has surpassed $15 billion since RAD’s launch in 2013. Public housing authorities (PHAs) and their partners have built, rehabilitated and preserved more than 185,000 home through RAD, which allows PHAs to convert public housing and HUD’s other non-public housing legacy rental assistance program funding to Section 8 project-based rental assistance or project-based voucher contracts. Today’s announcement highlighted that RAD has secured and preserved housing under Section 8 for approximately 468,000 people. Since 2013, the average investment per unit in RAD has increased from $55,000 to $144,000, thanks partly to the increased number of resources available.

This week’s Tax Credit Tuesday podcast addresses post-RAD requirements and other RAD-related topics.

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