Article from the RAD Collaborative:
Milestone Notched. HUD’s Recap Office recently announced another impressive milestone under RAD—the conversion of all 169 properties/14,462 units initially constructed under the 1970s-era Rental Assistance Program—details here. Unfortunately, RAP properties lacked a subsidy extension once the program was terminated in favor of the Section 8 subsidies introduced in the 1980s, effectively making it a so-called HUD “orphan” program. But no longer.
Coupled with the successful conversion of the entire inventory of HUD’s legacy Rent Supp program in 2018, RAD has successfully preserved over 28.000 units of privately owned and managed multifamily housing that were once very much at risk of being lost from the affordable inventory.
RAD-Preserved Tyson Towers | Vienna, VA