RAD Completes Conversion Of Over 14,000 Rental Assistance Payment Program Units

January 29, 2020, HousingOnline Weekly - HUD’s Office of Multifamily Housing has recently hit a new milestone: the last properties with contracts under the 1970s-era Rental Assistance Payment (RAP) program were preserved and converted to long-term project-based Section 8 assistance under the Rental Assistance Demonstration (RAD).

RAD allowed owners of RAP properties to successfully preserve 14,462 affordable homes, protecting tens of thousands of residents from displacement and ensuring the housing remains affordable for future generations.

By shifting onto the Section 8 platform, owners have also been able to access new financing to make property improvements, thereby ensuring quality affordable housing options for years to come.