The Cambridge Housing Authority (CHA) has converted 952 units of public housing at eight housing developments to project-based assistance under HUD’s Rental Assistance Demonstration (RAD).

The CHA on April 1 completed the conversion of Newtowne Court, Washington Elms and Woodrow Wilson Court. All of CHA’s 2,129 public housing units will be converted to RAD over the next 12 to 18 months. Five conversions were completed earlier this year.

RAD conversion provides a more stable and predictable funding platform and allows owners to leverage additional funding for capital improvements. CHA’s portfolio-wide RAD conversion, the fifth largest in the country, was approved in December 2013 and is the only public housing conversion in Massachusetts. In December, Congress raised the national RAD cap from 60,000 to 185,000 units, which will allow conversion of about 10 percent of the public housing in the country.

“RAD conversion is a transformative solution, allowing CHA to stabilize and raise the quality of its properties portfolio-wide. Of greater importance is the role this conversion plays in the preservation of long-term affordability in one of the highest-cost markets in the country. Taking these actions today will result in open doors for CHA’s residents now and far into the future,” CHA Executive Director Gregory Russ said in a statement.

Cambridge Housing Authority Completes Next Phase Of Rental Conversions

by Banker & Tradesman time to read: 1 min
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