PHA code TX005 · Large PHA · Texas
Houston Housing Authority
Houston Housing Authority has closed 4 RAD conversions covering 422 public housing units. It still has 2,416 public housing units in 12 projects that HUD's May 2026 rents tool prices for RAD.
- Converted 422
- In the pipeline 0
- Still public housing 2,416
Of the closed deals, 4 went to project-based vouchers (PBV) and 0 to project-based rental assistance (PBRA). 2 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 |
|---|---|---|---|---|---|---|---|
| Sweetwater | PBV | 26 | Closed | Aug 2022 | |||
| Allen Parkway VillageSec. 18 blend | PBV | 167 | Closed | Aug 2022 | 4% | $125,242 | |
| Historic Oaks of Allen Parkway VillageSec. 18 blend | PBV | 89 | Closed | Aug 2022 | 4% | $123,676 | |
| Historic Rental Initiatives/victory Apartments | PBV | 140 | Closed | Jul 2020 | |||
| Cuney Homes | PBV | 0 | CHAP Processing - Under SME Review |
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 TX005's remaining units that averages $1,334 a month, against a weighted PBV cap of $1,796 (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 TX005's 12 projects are already at or above the PBV cap.
| Project | Units | 2026 RAD rent | PBV cap | PBRA cap | 60/40 blend | Rent check |
|---|---|---|---|---|---|---|
| Cuney Homes TX005000005 | 593 | $1,418 | $1,734 | $1,891 | $1,647 | Debt |
| Irvinton Village TX005000007 | 308 | $1,235 | $1,860 | $2,029 | $1,653 | Debt |
| Kelly Village TX005000014 | 270 | $1,330 | $1,903 | $2,076 | $1,719 | Debt |
| Oxford Place TX005000015 | 230 | $1,205 | $1,875 | $2,046 | $1,590 | Debt |
| Bellerive Apartments TX005000013 | 210 | $1,030 | $1,468 | $1,602 | $1,333 | Debt |
| Lyerly Apartments TX005000012 | 200 | $1,053 | $1,458 | $1,591 | $1,339 | Debt |
| Lincoln Park Apartments TX005000018 | 200 | $1,022 | $1,867 | $2,037 | $1,504 | Debt |
| Fulton Village Apartments TX005000011 | 108 | $1,065 | $1,910 | $2,084 | $1,552 | Debt |
| Kennedy Place Apartments TX005000019 | 108 | $1,062 | $1,867 | $2,036 | $1,535 | Debt |
| Forest Green Townhomes TX005000009 | 100 | $4,096 | $2,383 | $2,600 | $3,123 | Debt |
| Heatherbrook TX005000008 | 53 | $1,192 | $2,144 | $2,339 | $1,717 | Debt |
| Independence Heights Apartments TX005000021 | 36 | $871 | $1,692 | $1,846 | $1,324 | 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.