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PHA code RI005 · Medium PHA · Rhode Island

The Housing Authority of the City of Newport

The Housing Authority of the City of Newport has no closed RAD conversions in HUD's data, with 3 more (132 units) between CHAP and closing. It still has 557 public housing units in 13 projects that HUD's May 2026 rents tool prices for RAD.

Conversions

RAD Component 1 conversions for RI005, newest first
Development Type RAD units Status Closed Tax credits FHA Hard cost / unit
Newport Heights Phase IIPBV64CHAP awardedCHAP 20244%
Newport Heights Phase IIIPBV37CHAP awardedCHAP 20244%
Newport Heights - Phase 1Sec. 18 blendPBV31RCC issuedCHAP 20234%Yes$129,445

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 RI005's remaining units that averages $1,211 a month, against a weighted PBV cap of $2,421 (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.

Unconverted public housing projects, May 2026 RAD rents tool
Project Units 2026 RAD rent PBV cap PBRA cap 60/40 blend
Scattered Site Elderly RI005000004 156 $1,103 $1,940 $2,117 $1,651 Debt
Donovan Manor RI005000005 85 $1,071 $1,936 $2,112 $1,637 Debt
Chapel Terrace RI005000002 76 $1,549 $2,953 $3,221 $2,436 Debt
Park Holm Phase I RI005000013 51 $1,327 $2,435 $2,656 $2,032 Debt
Newport Heights IIA RI005000006 36 $926 $2,105 $2,297 $1,588 Debt
Newport Heights- Phase I RI005000003 31 $1,126 $2,722 $2,969 $1,952 Debt
Newport Heights IIB RI005000007 28 $1,197 $3,256 $3,552 $2,259 Debt
Park Holm RI005000001 27 $1,414 $2,782 $3,035 $2,279 Debt
Newport Heights IIIB RI005000011 20 $1,213 $3,097 $3,378 $2,226 Debt
Newport Heights IIIA RI005000008 17 $1,156 $3,510 $3,829 $2,413 Debt
Park Holm Phase II RI005000014 15 $1,598 $3,478 $3,794 $2,760 Debt
Park Holm Phase III RI005000016 13 $1,095 $1,987 $2,168 $1,597 Debt
Weidemann Court RI005000012 2 $2,113 $3,444 $3,757 $2,806 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.

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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.