PHA code NJ002 · Large PHA · New Jersey
Housing Authority of the City of Newark (NJ002)
Housing Authority of the City of Newark has closed 3 RAD conversions covering 1,053 public housing units, with 5 more (671 units) between CHAP and closing. It still has 5,314 public housing units in 29 projects that HUD's May 2026 rents tool prices for RAD.
- Converted 1,053
- In the pipeline 671
- Still public housing 5,314
Of the closed deals, 3 went to project-based vouchers (PBV) and 0 to project-based rental assistance (PBRA). 0 used low-income housing tax credits and 3 carried FHA-insured debt.
Conversions
| Development | Type | RAD units | Status | Closed | Tax credits | FHA | Hard cost / unit |
|---|---|---|---|---|---|---|---|
| Bradley Courtnew construction | PBV | 297 | CHAP awarded | CHAP 2026 | Both | ||
| Hyatt Courtnew construction | PBV | 263 | CHAP awarded | CHAP 2026 | Both | ||
| Hayes (west Kinney Gardens Phase 1b) | PBV | 23 | CHAP awarded | CHAP 2024 | Both | ||
| Js West Kinney Gardens Phase 1-A | PBV | 53 | CHAP awarded | CHAP 2024 | Both | ||
| Stella Gardens | PBV | 35 | CHAP awarded | CHAP 2024 | Both | ||
| James C. White Manor | PBV | 206 | Closed | Nov 2022 | Yes | $26,988 | |
| Stephen Crane | PBV | 350 | Closed | Nov 2022 | Yes | $18,267 | |
| Wynona Lipman Townhouses/walsh North | PBV | 497 | Closed | Nov 2022 | Yes | $8,184 |
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 NJ002's remaining units that averages $1,594 a month, against a weighted PBV cap of $2,429 (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. 1 of NJ002's 29 projects are already at or above the PBV cap.
| Project | Units | 2026 RAD rent | PBV cap | PBRA cap | 60/40 blend | Rent check |
|---|---|---|---|---|---|---|
| Baxter-Crane-C NJ002002018 | 375 | $1,543 | $1,945 | $2,122 | $1,838 | Debt |
| Baxter-Krane-D NJ002002020 | 357 | $1,546 | $1,965 | $2,144 | $1,851 | Debt |
| Kretchmer-Boyden-A NJ002002021 | 352 | $1,728 | $2,056 | $2,243 | $1,980 | Debt |
| Bradley Court NJ002002014 | 319 | $1,889 | $2,527 | $2,757 | $2,327 | Debt |
| Newark H A NJ002003006 | 318 | $1,298 | $2,586 | $2,822 | $2,049 | Debt |
| Kretchmer-Boyden-E NJ002002022 | 287 | $1,655 | $2,057 | $2,244 | $1,951 | Debt |
| Townhouses - Oriental St. NJ002003001 | 269 | $1,505 | $2,735 | $2,983 | $2,243 | Debt |
| Hyatt Court NJ002002007 | 265 | $1,703 | $2,510 | $2,738 | $2,245 | Debt |
| BelleMead Site NJ002003003 | 258 | $1,437 | $2,868 | $3,129 | $2,273 | Debt |
| Betty Shabazz Village NJ002003004 | 254 | $1,565 | $3,024 | $3,299 | $2,409 | Debt |
| La Villa Dr, Jose Rosario NJ002003007 | 240 | $1,397 | $2,898 | $3,162 | $2,276 | Debt |
| Baxter-Crane NJ002002221 | 235 | $1,546 | $1,982 | $2,163 | $1,862 | Debt |
| Pennington Court NJ002002002 | 229 | $1,847 | $2,394 | $2,612 | $2,230 | Debt |
| Townhouses NJ002003012 | 206 | $1,878 | $3,165 | $3,453 | $2,615 | Debt |
| Kretchmer-Boyden NJ002002017 | 198 | $1,850 | $2,000 | $2,181 | $1,995 | Debt |
| Townhouse (kemsco/zac) NJ002003002 | 196 | $1,553 | $3,207 | $3,498 | $2,519 | Debt |
| Kretchmenr-Boyden-F NJ002002023 | 190 | $1,570 | $1,976 | $2,155 | $1,867 | Debt |
| Baxter-Crane NJ002002016 | 188 | $2,141 | $2,024 | $2,208 | $2,125 | Debt |
| Kretchmer Homes Townhouse NJ002003009 | 143 | $1,211 | $2,567 | $2,801 | $1,997 | Debt |
| Spruce Gardens NJ002002846 | 79 | $1,358 | $2,765 | $3,017 | $2,145 | Debt |
| West Kinney Gardens Phase I-A NJ002002843 | 76 | $1,356 | $2,610 | $2,847 | $2,072 | Debt |
| Baxter Park South NJ002002083 | 49 | $1,232 | $2,625 | $2,864 | $2,003 | Debt |
| Montgomery Phase II NJ002002085 | 48 | $1,388 | $2,327 | $2,539 | $1,921 | Debt |
| City View Senior NJ002002078 | 38 | $1,007 | $2,049 | $2,235 | $1,571 | Debt |
| Stella Gardens NJ002002844 | 35 | $1,346 | $2,799 | $3,054 | $2,192 | Debt |
| City View Family NJ002002077 | 33 | $1,394 | $2,772 | $3,024 | $2,116 | Debt |
| Charlton Gardens NJ002002845 | 30 | $1,352 | $2,778 | $3,030 | $2,181 | Debt |
| New Horizon Phase I NJ002002086 | 27 | $1,082 | $2,145 | $2,340 | $1,679 | Debt |
| Montgomery Height-I NJ002002080 | 20 | $1,271 | $2,515 | $2,744 | $1,967 | 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.