PHA code AZ001 · Large PHA · Arizona
City of Phoenix Housing Department
City of Phoenix Housing Department has closed 6 RAD conversions covering 542 public housing units, with 2 more (70 units) between CHAP and closing. It still has 1,036 public housing units in 12 projects that HUD's May 2026 rents tool prices for RAD.
- Converted 542
- In the pipeline 70
- Still public housing 1,036
Of the closed deals, 6 went to project-based vouchers (PBV) and 0 to project-based rental assistance (PBRA). 2 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 |
|---|---|---|---|---|---|---|---|
| Aeroterra II | PBV | 36 | CHAP awarded | CHAP 2024 | |||
| Aeroterra Phase III | PBV | 34 | CHAP awarded | CHAP 2024 | |||
| Pine Towers | PBV | 148 | Closed | Nov 2022 | $38,918 | ||
| Aeroterra Senior Village | PBV | 60 | Closed | Jul 2021 | |||
| Foothills VillageSec. 18 blend | PBV | 150 | Closed | Nov 2020 | 4% | $113,519 | |
| Mccarty on Monroe | PBV | 34 | Closed | Nov 2020 | $17 | ||
| Washington Manor | PBV | 112 | Closed | Oct 2019 | |||
| FRANK LUKE JR. D (AL Krohn East)new construction | PBV | 38 | Closed | Oct 2019 | 9% | $183,285 |
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 AZ001's remaining units that averages $1,007 a month, against a weighted PBV cap of $2,166 (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 |
|---|---|---|---|---|---|---|
| Marcos de Niza AZ001000022 | 281 | $1,132 | $2,090 | $2,279 | $1,642 | Debt |
| Scattered Sites AZ1-40 AZ001000008 | 139 | $1,014 | $2,721 | $2,968 | $1,934 | Debt |
| Maryvale Parkway Terrace AZ001000005 | 108 | $897 | $1,741 | $1,900 | $1,429 | Debt |
| Henson Villages - Seniors AZ001000017 | 100 | $882 | $1,753 | $1,912 | $1,422 | Debt |
| Henson Villages - Phase 1 AZ001000016 | 99 | $1,021 | $2,393 | $2,610 | $1,778 | Debt |
| Henson Villages - Phase 3 AZ001000018 | 68 | $1,025 | $2,391 | $2,608 | $1,759 | Debt |
| Summit Apartments AZ001000024 | 50 | $704 | $1,708 | $1,864 | $1,275 | Debt |
| Henson Villages - Phase 4 AZ001000019 | 43 | $1,024 | $2,388 | $2,605 | $1,759 | Debt |
| The Symphony AZ001000021 | 42 | $1,041 | $2,486 | $2,713 | $1,829 | Debt |
| Frank Luke Jr AZ001000003 | 36 | $1,208 | $1,741 | $1,900 | $1,557 | Debt |
| Aeroterra Phase II AZ001000025 | 36 | $965 | $2,511 | $2,740 | $1,798 | Debt |
| Aeroterra Phase III AZ001000026 | 34 | $787 | $2,061 | $2,249 | $1,482 | 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.