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PHA code AR004 · Small PHA · Arkansas

Housing Authority of the City of Little Rock

Housing Authority of the City of Little Rock has closed 7 RAD conversions covering 686 public housing units. It still has 161 public housing units in 4 projects that HUD's May 2026 rents tool prices for RAD.

Of the closed deals, 7 went to project-based vouchers (PBV) and 0 to project-based rental assistance (PBRA). 4 used low-income housing tax credits and 0 carried FHA-insured debt.

Conversions

RAD Component 1 conversions for AR004, newest first
Development Type RAD units Status Closed Tax credits FHA Hard cost / unit
Sunset-Stephens-CentralSec. 18 blendPBV35ClosedOct 20224%$196,261
Cumberland TowersPBV178ClosedOct 20184%$52,784
Parris TowersPBV250ClosedOct 20184%$48,588
Powell TowersPBV169ClosedOct 20184%$50,283
Madison Heights IIIPBV20ClosedApr 2018
Cumberland ManorPBV17ClosedJul 2017
Metropolitan VillagePBV17ClosedJul 2017

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 AR004's remaining units that averages $806 a month, against a weighted PBV cap of $1,344 (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.

Unconverted public housing projects, May 2026 RAD rents tool
Project Units 2026 RAD rent PBV cap PBRA cap 60/40 blend
Madison Heights Phase I AR004000018 59 $803 $1,320 $1,440 $1,100 Debt
Homes at Granite Mountain AR004000020 40 $849 $1,478 $1,612 $1,179 Debt
Madison Heights II AR004000019 38 $887 $1,373 $1,498 $1,147 Debt
Granite Mountain Senior AR004000028 24 $615 $1,131 $1,234 $882 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.

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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.