PHA code NY009 · Large PHA · New York
Albany Housing Authority (NY009)
Albany Housing Authority has closed 4 RAD conversions covering 628 public housing units. It still has 1,367 public housing units in 12 projects that HUD's May 2026 rents tool prices for RAD.
- Converted 628
- In the pipeline 0
- Still public housing 1,367
Of the closed deals, 4 went to project-based vouchers (PBV) and 0 to project-based rental assistance (PBRA). 3 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 |
|---|---|---|---|---|---|---|---|
| Steamboat SquareSec. 18 blend | PBV | 300 | Closed | Oct 2025 | 4% | $420,463 | |
| South End Phase II | PBV | 26 | Closed | Jul 2024 | $1,059 | ||
| Steamboat 20 | PBV | 51 | Closed | Dec 2022 | 9% | $359,446 | |
| Ida IV and North Albany HomesSec. 18 blend | PBV | 251 | Closed | Dec 2020 | 4% | $179,589 |
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 NY009's remaining units that averages $1,071 a month, against a weighted PBV cap of $1,763 (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 |
|---|---|---|---|---|---|---|
| Steamboat Square NY009000003 | 331 | $1,114 | $1,763 | $1,923 | $1,509 | Debt |
| Lincoln Park Homes NY009000004 | 196 | $974 | $1,710 | $1,865 | $1,374 | Debt |
| Westview Apartments NY009000007 | 182 | $972 | $1,464 | $1,598 | $1,308 | Debt |
| Ezra Prentice Homes Redevelopment LLC NY009000010 | 169 | $1,262 | $1,955 | $2,133 | $1,727 | Debt |
| Townsend Park Homes NY009000012 | 158 | $889 | $1,559 | $1,700 | $1,311 | Debt |
| Robert Whalen Homes NY009000001 | 124 | $1,222 | $1,999 | $2,181 | $1,686 | Debt |
| Nutgrove Garden Apartments NY009000008 | 56 | $1,136 | $1,755 | $1,914 | $1,458 | Debt |
| Arbor Hill Homes NY009000009 | 54 | $1,161 | $2,010 | $2,193 | $1,613 | Debt |
| Ida Yarbrough Homes Redevelopment NY009000018 | 45 | $1,041 | $2,221 | $2,423 | $1,699 | Debt |
| Arbor Hill 3B NY009000011 | 23 | $1,036 | $1,845 | $2,013 | $1,446 | Debt |
| South End Phase III NY009000016 | 21 | $816 | $1,633 | $1,782 | $1,251 | Debt |
| Ida Yarbrough Phase II NY009000019 | 8 | $980 | $2,031 | $2,216 | $1,470 | 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.