PHA code NE001 · Large PHA · Nebraska
Housing Authority of the City of Omaha
Housing Authority of the City of Omaha has closed 1 RAD conversion covering 143 public housing units, with 2 more (223 units) between CHAP and closing. It still has 2,468 public housing units in 22 projects that HUD's May 2026 rents tool prices for RAD.
- Converted 143
- In the pipeline 223
- Still public housing 2,468
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 |
|---|---|---|---|---|---|---|---|
| Pine TowerSec. 18 blend | PBV | 143 | Closed | Nov 2025 | 4% | $132,026 | |
| Florence TowerSec. 18 blend | PBV | 106 | RCC issued | CHAP 2025 | 4% | $130,647 | |
| Kay Jay TowerSec. 18 blend | PBV | 117 | RCC issued | CHAP 2025 | 4% | $130,939 | |
| North Omaha Affordable Homes | PBV | 5 | CHAP Processing - Withdrawn |
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 NE001's remaining units that averages $871 a month, against a weighted PBV cap of $1,512 (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 |
|---|---|---|---|---|---|---|
| Southside Terrace Home NE001000001 | 357 | $1,175 | $1,877 | $2,047 | $1,641 | Debt |
| Spencer, Alamo, Long School, Sc Sites NE NE001000016 | 225 | $899 | $1,813 | $1,978 | $1,377 | Debt |
| Park South NE001000008 | 221 | $786 | $1,271 | $1,386 | $1,114 | Debt |
| Jackson Tower NE001000013 | 207 | $780 | $1,224 | $1,335 | $1,082 | Debt |
| Crown Tower NE001000015 | 149 | $826 | $1,269 | $1,385 | $1,129 | Debt |
| Benson Tower NE001000009 | 143 | $784 | $1,210 | $1,320 | $1,073 | Debt |
| Pine Tower NE001000010 | 143 | $794 | $1,210 | $1,320 | $1,077 | Debt |
| Scattered Sites SE NE001000017 | 137 | $835 | $1,923 | $2,098 | $1,397 | Debt |
| Kay Jay Tower NE001000005 | 117 | $832 | $1,267 | $1,382 | $1,129 | Debt |
| Cherry Tree, Scattered Sites NW NE001000018 | 115 | $813 | $1,832 | $1,998 | $1,357 | Debt |
| Evans Tower NE001000006 | 110 | $806 | $1,285 | $1,402 | $1,130 | Debt |
| Florence Tower NE001000011 | 106 | $794 | $1,215 | $1,325 | $1,080 | Debt |
| Highland Tower NE001000012 | 106 | $796 | $1,215 | $1,325 | $1,080 | Debt |
| Underwood Tower NE001000014 | 104 | $836 | $1,215 | $1,325 | $1,095 | Debt |
| Scattered Sites SW NE001000019 | 75 | $852 | $1,976 | $2,155 | $1,435 | Debt |
| Keystone Crown Creek NE001000022 | 37 | $780 | $1,930 | $2,105 | $1,373 | Debt |
| Chambers Court NE001000021 | 32 | $906 | $1,712 | $1,868 | $1,332 | Debt |
| North Omaha Affordable Homes NE001000023 | 24 | $878 | $2,026 | $2,211 | $1,452 | Debt |
| Farnam Building NE001000028 | 20 | $879 | $1,725 | $1,882 | $1,345 | Debt |
| Crown I NE001000025 | 16 | $909 | $1,994 | $2,176 | $1,426 | Debt |
| Crown II NE001000026 | 12 | $832 | $1,994 | $2,176 | $1,412 | Debt |
| Bayview Apartments NE001000027 | 12 | $895 | $1,994 | $2,176 | $1,500 | 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.