PHA code AL002 · Large PHA · Alabama
Mobile Housing Board
Mobile Housing Board has closed 1 RAD conversion covering 15 public housing units, with 8 more (1,401 units) between CHAP and closing. It still has 2,538 public housing units in 10 projects that HUD's May 2026 rents tool prices for RAD.
- Converted 15
- In the pipeline 1,401
- Still public housing 2,538
Of the closed deals, 1 went to project-based vouchers (PBV) and 0 to project-based rental assistance (PBRA). 1 used low-income housing tax credits and 0 carried FHA-insured debt.
Conversions
| Development | Type | RAD units | Status | Closed | Tax credits | FHA | Hard cost / unit |
|---|---|---|---|---|---|---|---|
| Anchor Placenew construction | PBV | 16 | CHAP awarded | CHAP 2026 | |||
| Emerson Gardens | PBV | 94 | CHAP awarded | CHAP 2025 | |||
| University Avenue Developmentnew construction | PBV | 112 | CHAP awarded | CHAP 2025 | |||
| Maryvale Villagenew construction | PBV | 34 | CHAP awarded | CHAP 2024 | |||
| Oaklawn Homes | PBRA | 95 | CHAP awarded | CHAP 2023 | 4% | ||
| Orange Grove Homes | PBRA | 247 | CHAP awarded | CHAP 2022 | |||
| Central Plaza TowersSec. 18 blend | PBRA | 465 | Financing Plan in | CHAP 2022 | 4% | $124,053 | |
| Josephine Allen (cottage Hill)new construction | PBV | 15 | Closed | May 2017 | 9% | $115,738 | |
| Roger Williams Homes Cat 1new construction | PBV | 338 | CHAP awarded | CHAP 2015 | Both |
Still public housing: 2026 RAD rents
HUD's rents tool sets a 2026 RAD contract rent for each unconverted project from its 2024 public housing funding, inflated by the 2025 and 2026 OCAF. Across AL002's remaining units that averages $930 a month, against a weighted PBV cap of $1,211 (110% of fair market rent, before the utility allowance). Where the RAD rent is below the cap, a Section 18 blend can raise the rent and the debt it carries.
| Project | Units | 2026 RAD rent | PBV cap | PBRA cap | 60/40 blend | Rent check |
|---|---|---|---|---|---|---|
| Thomas James Place AL002000005 | 796 | $887 | $1,255 | $1,369 | $1,063 | Debt |
| Central Plaza Towers AL002000012 | 465 | $909 | $996 | $1,086 | $1,002 | Debt |
| R V Taylor Plaza AL002000010 | 450 | $918 | $1,336 | $1,457 | $1,218 | Debt |
| Orange Grove Homes AL002000002 | 247 | $943 | $1,243 | $1,356 | $1,089 | Debt |
| Gulf Village AL002000006 | 199 | $1,214 | $1,254 | $1,368 | $1,256 | Debt |
| Oaklawn Homes AL002000001 | 95 | $1,151 | $1,257 | $1,371 | $1,230 | Debt |
| Emerson Gardens AL002000013 | 94 | $812 | $1,026 | $1,120 | $920 | Debt |
| The Renaissance Family AL002000021 | 87 | $784 | $1,246 | $1,359 | $975 | Debt |
| Downtown Renaissance I LP AL002000019 | 57 | $790 | $1,043 | $1,137 | $903 | Debt |
| Renaissance Townhouses AL002000020 | 48 | $928 | $1,442 | $1,573 | $1,140 | Debt |
Rents are monthly per unit, weighted across each project's bedroom mix. The caps are shown before HUD's estimated utility allowance. HUD calls the blend figures estimates. Project names are as reported to HUD.
Financing the next one
Send the deal to the commercial mortgage desk at Janover Capital LLC: debt for a conversion (FHA 223(f) or 221(d)(4), bank or bond), a Section 18 blend, or a refinance of a property that has already converted. Tell us where it stands, and a person at Janover Capital will reply.
Janover Capital LLC is not HUD, the RAD Resource Desk or a housing authority, and is not affiliated with or endorsed by any of them. Nothing here is legal advice or an offer of credit.
Sources: RAD Resource Desk Component 1 property export, downloaded ; HUD RAD Contract Rents Look-Up Tool, May 2026. Hard cost per unit divides reported hard construction costs by RAD plus non-RAD units; blank where HUD's export reports none. About the data.