News & Press

Beacon Communities Closes Two Mixed-Finance RAD Transactions

November 30, 2016

In Fall 2016 Beacon Communities successfully utilized HUD’s Rental Assistance Demonstration (RAD) Program to convert two mixed-finance HOPE VI communities located in Connecticut from public housing operating subsidy to Section 8. This subsidy conversion was critical to help stabilize operating income and enable the owners to undertake ongoing capital needs. The RAD conversions represent two of the first RAD-Mixed-Finance Conversions in the country.  Beacon Communities worked closely with NH&RA’s RAD User Group to coordinate with HUD’s Office of Recapitalization on this important pilot program.  Beacon Communities commends HUD for its responsiveness and leadership throughout the transaction.

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