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PHA code TN004 · Large PHA · Tennessee

Chattanooga Housing Authority

Chattanooga Housing Authority has closed 6 RAD conversions covering 764 public housing units. It still has 1,655 public housing units in 7 projects that HUD's May 2026 rents tool prices for RAD.

Of the closed deals, 0 went to project-based vouchers (PBV) and 6 to project-based rental assistance (PBRA). 1 used low-income housing tax credits and 0 carried FHA-insured debt.

Conversions

RAD Component 1 conversions for TN004, newest first
Development Type RAD units Status Closed Tax credits FHA Hard cost / unit
Greenwood TerracePBRA98ClosedJan 2023$7,578
FairmountPBRA18ClosedNov 2021$909
Boynton Terrace AptsPBRA248ClosedNov 2021$6,123
Mary Walker TowersPBRA153ClosedNov 2020$1,478
Dogwood ManorPBRA136ClosedOct 2020$1,542
Scattered SitesPBRA111ClosedDec 20199%$78,165

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 TN004's remaining units that averages $1,026 a month, against a weighted PBV cap of $1,551 (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
College Hill TN004000001 497 $970 $1,495 $1,631 $1,322 Debt
East Lake Courts TN004000002 416 $1,098 $1,521 $1,660 $1,389 Debt
Emma Wheeler Homes TN004000008 340 $1,195 $1,647 $1,796 $1,510 Debt
The Villages at Alton Park TN004000029 200 $846 $1,663 $1,814 $1,323 Debt
Gateway Towers TN004000022 132 $934 $1,391 $1,517 $1,245 Debt
The Oaks at Camden TN004000032 37 $851 $1,672 $1,824 $1,319 Debt
Maple Hills Apartments TN004000035 33 $898 $1,621 $1,768 $1,300 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.