Blog
$20B Invested in Public Housing through RAD
The Rental Assistance Demonstration (RAD) program recently hit another milestone – $20 billion in total construction investment. So, what does this mean?
It means that...
More than 500 public housing authorities and their partners have used RAD to preserve, modernize, or replace over 212,000 homes originally built as public housing.
RAD has helped...
An estimated 577,000 low-income individuals, families, the elderly, and persons of disabilities secure decent, safe and affordable housing for the long term.
Hitting this milestone simply means that we are continuing to provide quality housing for those most in need and in turn dramatically improving communities and the quality of housing for residents. While our public housing stock still has enormous needs, estimated at $115 billion, reaching $20 billion in construction investment shows that RAD is and will continue to be a critical tool to address this challenge.
To celebrate this occasion, I'm sharing a video that features residents impacted by RAD conversions. The residents speak to how their lives have been improved for the better and how happy they are with their new homes. We hope you will watch the video in celebration of this milestone.
We look forward to continuing to innovate and work with housing authorities, residents, advocates, developers, and capital providers to preserve critical affordable housing, to revitalize our communities, and to protect low-income households.
Sincerely,
Tom
| View the Video Featuring Residents of RAD Conversions |
