Scott Beyer • 6 min read
When it comes to allocation of Low Income Housing Tax Credits and complementing Private Activity Bonds (PAB), there’s only so much to go around. The IRS distributes both forms of financing to states based on population; as noted by the Affordable Housing Finance website, the 2020 LIHTC allocation “will be the greater of $2.8125 multiplied by the state population, or the small state minimum of $3,217,500. For private-activity bonds, the amount used to calculate the volume cap will remain $105 multiplied by the state population. The state minimum will be $321,775,000.”
Scott Beyer • 6 min read
The Hilltop Apartments was a previously market-rate rental apartment project that sits near the eastern city limits of Washington, DC, in the Deanwood neighborhood. Built in the 1960s, it had become a run-down project within a gentrifying area, and the natural market direction might have been to demolish it and build new market-rate housing that commanded higher rents.
Mark Olshaker • 7 min read
Adrian Iglesias founded Generation Housing Development in Dallas, TX in 2002 with the mission to provide affordable multifamily housing for families and seniors, “in sustainable communities that residents and city leaders can be proud to call their own.”
Mark Fogarty • 6 min read
Renovating affordable housing units in San Francisco isn’t very affordable. Redoing the 202 units at Eastern Park Apartments, for instance, is estimated to cost $171 million when finished in this ultra-high-cost housing market.
Mark Olshaker • 6 min read
Originally constructed in 1971, Denver Metro Village is a 191-unit affordable rental housing property serving seniors. It’s west of downtown Denver at West Colfax Avenue and Quitman Street, near Sloans Lake, the city’s largest, and is being preserved through a partnership with the nonprofit owner, manager and developer, MGL
Kaitlyn Snyder • 7 min read
Editor’s Note: To help NH&RA members and their residents through the COVID-19 crisis, we have been collecting information from numerous sources on responses by governments, housing agencies, companies and professional associations. We will run this feature in each issue, as long as the crisis persists.
Kaitlyn Snyder • 7 min read
Across the country, affordable housing developers are turning to private activity bonds (PABs) and four percent Low Income Housing Tax Credits (LIHTC or credit) to finance their affordable housing transactions since the nine percent LIHTC remains persistently oversubscribed.
Thom Amdur • 4 min read
The rapid escalation of the COVID-19 Coronavirus Pandemic is having a deeply unsettling impact on how we live and how we work. It is testing our disaster response system in unanticipated ways and will require a new kind of resilience from us.
Mark Olshaker • 10 min read
“RAD has been the most positive experience I’ve had working with HUD,” states Richelle Patton, president of Collaborative Housing Solutions of Decatur, GA, a consulting firm that specializes in creative problem-solving to develop affordable rental housing. She specializes in HUD’s Rental Assistance Demonstration program, has been involved with around 18,000 RAD unit conversions and has served as a RAD transaction manager for HUD.
Darryl Hicks • 8 min read
Sherrod Brown is a senior statesman who has devoted his entire adult life to politics—representing Ohio’s residents for 45 years—and become one of the most powerful lawmakers in the United States Congress.
Scott Beyer • 5 min read
Since its launch in 2011, the Rental Assistance Demonstration program (RAD) has put hundreds of thousands of public housing units under private management, across 44 states plus DC. All this activity was spurred by HUD’s change in incentives – after decades of defunding public housing, HUD decided to allocate money for RAD, showing that privatization is the agency’s preferred future model. But RAD has also shot off because it’s being blended with other HUD tools that better enable public housing repair and conversion. Two of these tools are Section 18 and Rent Bundling.
Scott Beyer • 6 min read
Many of today’s affordable housing policies, from inclusionary zoning to strengthened tenant protections, are—whether you agree with them or not—growing out of coastal urban America. But one relatively new HUD program, Rental Assistance Demonstration (RAD), has become a Southern thing.