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The latest in industry news with the insight of Dominion Due Diligence Group (D3G) President, Rob Hazelton

 

Rental Assistance Demonstration (RAD) success with D3G

 This is what RAD is all about.  Beautification and modernization of public housing, with the transformation to the multifamily housing portfolio.  It was a pleasure to work with the Salisbury Housing Authority and their Executive Director, Mr. Sam Foust, on this important initiative over the past 3 years.  Congratulations to all of those who put in long hours to get this done, all for the benefit of the community and residents.

More here

Virginia to get nearly $7 million in funds for affordable housing

(Pictured above: Dale Homes)

Congratulations to all of those involved!   Dominion Due Diligence Group (D3G) was proud to have worked on New Clay House; Dale Homes; and Sun Valley Landings, contributing a combined $42.1 million to affordable housing in Virginia.  Working on 3 of 5 recipients is not too shabby!   

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Update: Midwest Lenders' LIHTC Workshop

I am currently attending the Midwest Lenders' LIHTC Workshop in Chicago. The conference has been very informative so far and I have taken part in many interesting discussions. Lots of good knowledge and best practices being shared... But I'm not sure which is more lively, the conversations or the carpeting!

 

RAD, Columbia Housing and Redevelopment Corporation, & D3G

D3G is honored to have been involved with the Columbia Housing and Redevelopment Corporation and LHP Development, LLC with the preservation of 296 public housing apartments, participating in the HUD Rental Assistance Demonstration (RAD). 

This five (5) property portfolio was successfully awarded 9% LIHTC from the Tennessee Housing Development Agency.  D3G’s professional services were important with this Section 8 PBRA transformation and included a property condition assessment, energy auditing, environmental assessment, and utility allowance analysis. The development team should be commended for their commitment to energy efficiency with the proposed rehabilitation.  

http://columbiadailyherald.com/news/local-news/columbia-housing-secures-68-million-rehab-project

 

Update: NCSHA Housing Credit Connect 2016

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!

 
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