$10 Billion Invested in RAD-Converted Public Housing

In just seven years since the first public housing property converted under the Rental Assistance Demonstration (RAD), Public Housing Agencies (PHAs) and their partners have cleared another major milestone—surpassing more than $10 billion for the improvement and replacement of converting public housing properties. RAD has preserved, improved or replaced 165,000 homes, of which 140,000 are RAD-converted and 25,000 are income-restricted affordable housing and market-rate units in the same properties. Congratulations to HUD’s office of Recapitalization, the PHAs, their development and financing partners and the residents; here’s to another $10 billion!