HUD Deputy Assistant Secretary for Multifamily Housing, Priya Jayachandran, and NEF Vice President, Catalina Vielma, provided a wonderful RAD update at NCSHA's Housing Credit Connect 2016.
A few major bullet points to take away from their update:
- 32,000 units of RAD closed to date and another 20,000 with RCC or financing plan submitted; that equates to about 52,000 units of success!
- 81,000 with active chaps with HUD involvement
- $2.2 billion in construction dollars leveraged with closed transactions.
- 53% of closings consist of 4% or 9% LIHTC
- 17% new construction
But HUD wants and needs more on the waiting list! PHAs, hear the call!