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

 

Choice Neighborhoods Initiative Awarded to Norfolk and Newport News in Virginia

D3G is proud to have assisted both Newport News and Norfolk, both successful recipients of large Choice Neighborhoods Initiative (CNI). Congratulations to both localities on their hard work!

https://www.hud.gov/press/press_releases_media_advisories/HUD_No_19_060 

 

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1933 Hits

FHA OFFERS INCENTIVES FOR PROPERTY OWNERS WHO INVEST IN OPPORTUNITY ZONES

HUD Multifamily issued additional Opportunity Zone incentives today. As a dedicated housing professional for 25 years, I think there is still a lot more HUD could do to encourage Affordable Housing in Opportunity Zones.

 

You can read the HUD release here - https://www.hud.gov/press/press_releases_media_advisories/HUD_No_19_058

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1011 Hits

Updates To the Environmental Review Requirements for RAD Conversions - Quick Reference Guide

HUD has recently revised the Quick Reference Guide for Environmental Review Requirements for RAD Conversions. This version provides a more streamlined organization of information, incorporates frequently asked questions that have come up over the past few years, and introduces simplified environmental reviews for RAD conversions to PBRA that do not entail any work. This guide is applicable to both components of RAD (i.e., for public housing, Mod Rehab, Rent Supp & RAP, and soon 202 PRAC conversions). 

 

 

 

 

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1189 Hits

HEROS Turns Five

On March 1st, HEROS celebrated five years in existence. From an idea floating around, to a document hundreds of pages long, to an almost mandatory system - it's come a long way!

 

Here are some HEROS stats:

Users

HUD staff:

  • CPD field: 477
  • CPD HQ: 35
  • OEE (CPD): 44
  • RAD: 55
  • Multifamily Housing and Healthcare: 371
  • Public Housing: 217
  • ONAP: 67
  • Other: 3

Non-HUD users:

  • CPD Entitlements: 3,235
  • CPD Consultants: 50
  • Public Housing Authorities: 51
  • ONAP Consultants & TDHEs: 22 (Pilot group only at this time)

 

Reviews in the system:

Part 50 – 4,850

Part 58 – 25,410

 

Here’s to many more years of HEROS!

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D3G Supported RAD Work in the News

D3G performed the RAD Due Diligence work on West Newton Apartments in Boston in 2017 and 2018. They just closed on the loan and the developer is getting ready to start the renovations. Not all RAD applications are accepted, but our clients have an upper leg when they use us to help them through the application process.

https://bostonrealestatetimes.com/inquilinos-boricuas-to-redevelop-and-preserve146-unit-west-newton-apartments/

 

We also provided the RAD Due Diligence work on Westside Courts in San Francisco in 2015 and 2016. Our Engineering, AEC and Green divisions all contributed to the massive improvements at this property.

https://www.globest.com/2019/02/26/mayors-office-unveils-public-housing-renovation/

 

What great success stories!

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