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The Office of Multifamily Housing provides stability and affordability to the Multifamily housing market in support of HUD's mission to create strong, sustainable, inclusive communities.
Read about recent Multifamily closings using Federal Housing Administration (FHA) insured mortgages as well as the Rental Assistance Demonstration (RAD). These and other transactions work to increase access to affordable housing around the country.
FHA Insures $12 Million Mortgage for Urban Redevelopment in Baltimore
The FHA announced on March 17 the final endorsement and completed construction of a $12 million loan insured under FHA’s 221(d)(4) mortgage insurance program for Marshall Gardens in Baltimore, Maryland.
The property was named after Thurgood Marshall who was raised in the neighborhood and became the first African-American justice of the Supreme Court. The insured loan financed five gut rehabbed row houses plus the new construction of 27 rental homes and 55 row homes located throughout three city blocks.
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District of Columbia Housing Authority’s First Faircloth-to-RAD Conversion Will Support 166 Homes
The District of Columbia Housing Authority broke ground on its first Faircloth-to-RAD project at Kenilworth Courts, an $83 million first phase redevelopment that includes 166 homes in a senior building, a multifamily building, stacked flats, and townhouse rentals. Of these, 118 will be deeply subsidized replacement homes and 48 will be affordable.
Faircloth-to-RAD conversions establish a long-term, reliable rental subsidy contract for the new housing units, which will help public housing authorities and their partners to more readily finance the development of the new properties.
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RAD Creates Mixed-Income Affordable Community in Kansas City
HUD closed a RAD transaction with the Housing Authority of Kansas City, Missouri, and Brinshore Development, creating 62 mixed-income homes at the new Sam Rodgers Place.
This transaction is the final of a seven-phase preservation and redevelopment plan that has been supported by several HUD funding sources, including a $30 million Choice Neighborhoods Implementation Grant.
How to Keep Up with Multifamily News
Stay up-to-date with the Office of Multifamily Housing Programs by:
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