Working With HUD

What multifamily developers need to know about working with the federal government.

Trying to connect the dots on multifamily financing deals often hinges on some help from Uncle Sam in the form of the Department of Housing and Urban Development (HUD). Developers already acquainted with the Rental Assistance Demonstration (RAD) program, low-income housing tax credits (LIHTCs), Opportunity Zones, and, of course, the Section 221(d)(4) program know how the process works. But to shed some light on the process for those uninitiated, Multifamily Executive posed some questions to James Rice, vice president of HUD AEC Services at AEI Consultants, based in San Francisco.

MFE: Why has HUD raised its allocations for affordable housing, and what types of projects is it looking to invest in?

Rice: HUD raised allocations because as the economy expands, multifamily owners are looking to increase rent due to increased operating costs. HUD offers multiple programs to allow private investors to invest in affordable housing. Of note are the RAD program, the LIHTC program, and Opportunity Zones, which allow public housing agencies to leverage public and private debt and equity in order to reinvest in public housing.

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