PHA code NC001 · Medium PHA · North Carolina
Housing Authority of the City of Wilmington, North Carolina
Housing Authority of the City of Wilmington, North Carolina has closed 1 RAD conversion covering 58 public housing units, with 5 more (627 units) between CHAP and closing. It still has 1,005 public housing units in 14 projects that HUD's May 2026 rents tool prices for RAD.
- Converted 58
- In the pipeline 627
- Still public housing 1,005
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 |
|---|---|---|---|---|---|---|---|
| Hillcrest Village IInew construction | PBV | 186 | CHAP awarded | CHAP 2026 | 4% | ||
| Houston Moore TerraceSec. 18 blendnew construction | PBV | 150 | RCC issued | CHAP 2024 | 4% | $233,752 | |
| Hillcrestnew construction | PBV | 70 | CHAP awarded | CHAP 2023 | 4% | Yes | |
| Solomon TowersSec. 18 blend | PBV | 150 | RCC issued | CHAP 2023 | 4% | $101,733 | |
| Hope VI Phase II - Covilnew construction | PBV | 71 | CHAP awarded | CHAP 2018 | 4% | ||
| Rankin Pl. Ter. | PBV | 58 | Closed | Jun 2016 | 9% | $95,241 |
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 NC001's remaining units that averages $1,156 a month, against a weighted PBV cap of $1,981 (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 |
|---|---|---|---|---|---|---|
| Hillcrest NC001000005 | 216 | $1,143 | $1,944 | $2,121 | $1,668 | Debt |
| Solomon Towers NC001000007 | 151 | $892 | $1,397 | $1,524 | $1,232 | Debt |
| Houston Moore Terrace NC001000004 | 150 | $1,360 | $2,188 | $2,387 | $1,906 | Debt |
| Creekwood South LIHTC NC001000019 | 138 | $1,379 | $2,306 | $2,516 | $1,984 | Debt |
| HOPE VI Phase II - Covil NC001000015 | 71 | $853 | $1,985 | $2,165 | $1,485 | Debt |
| Creekwood South NC001000080 | 60 | $1,443 | $2,504 | $2,732 | $2,137 | Debt |
| New Brooklyn Homes at Taylor Estates NC001000017 | 48 | $1,072 | $2,093 | $2,283 | $1,698 | Debt |
| Vesta Village NC001000081 | 43 | $1,397 | $2,275 | $2,482 | $1,960 | Debt |
| Hillcrest Annex NC001000082 | 40 | $965 | $1,396 | $1,523 | $1,263 | Debt |
| Eastbrook Apartments (RHF) NC001000020 | 32 | $1,145 | $1,825 | $1,991 | $1,577 | Debt |
| Woodbridge Apartments NC001000016 | 24 | $890 | $2,110 | $2,302 | $1,518 | Debt |
| Dawson Lofts NC001000083 | 24 | $875 | $1,745 | $1,903 | $1,408 | Debt |
| Scattered Sites NC001000018 | 7 | $1,228 | $2,233 | $2,436 | $1,833 | Debt |
| South Side 1 NC001000022 | 1 | $1,026 | $1,825 | $1,991 | $1,026 | 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.