PHA code VQ001 · Large PHA · U.S. Virgin Islands
Virgin Islands Housing Authority
Virgin Islands Housing Authority has closed 3 RAD conversions covering 354 public housing units, with 4 more (347 units) between CHAP and closing. It still has 2,326 public housing units in 11 projects that HUD's May 2026 rents tool prices for RAD.
- Converted 354
- In the pipeline 347
- Still public housing 2,326
Of the closed deals, 0 went to project-based vouchers (PBV) and 3 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 |
|---|---|---|---|---|---|---|---|
| Ralph de Chabert Place - 4% - Hamilton and Gerard | PBRA | 56 | Closed | Jan 2025 | 4% | $611,819 | |
| Ralph de Chabert Place - 9% - Hamilton | PBRA | 50 | Closed | Jan 2025 | 9% | $769,376 | |
| Ralph de Chabert Place - 9% - Hamilton Cat 1 | PBRA | 4 | CHAP awarded | CHAP 2024 | |||
| Ralph de Chabert Place - 4% - Hamilton and Gerard | PBRA | 12 | CHAP awarded | CHAP 2023 | |||
| Walter I.m. Hodge Pavilion | PBRA | 248 | Closed | Jun 2022 | 9% | $293,959 | |
| Wilford Pedro-Stoney Groundnew construction | PBV | 97 | CHAP awarded | CHAP 2021 | 4% | ||
| John F. Kennedy Terrace Anew construction | PBV | 234 | CHAP awarded | CHAP 2018 | 4% |
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 VQ001's remaining units that averages $1,611 a month, against a weighted PBV cap of $1,572 (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. 5 of VQ001's 11 projects are already at or above the PBV cap.
| Project | Units | 2026 RAD rent | PBV cap | PBRA cap | 60/40 blend | Rent check |
|---|---|---|---|---|---|---|
| Williams Delight Villas VQ001000025 | 376 | $1,375 | $1,429 | $1,559 | $1,375 | Debt |
| Estate Bovoni Apartments VQ001000013 | 366 | $1,552 | $1,744 | $1,902 | $1,616 | Debt |
| Oswald E. Harris Court VQ001000011 | 298 | $1,663 | $1,763 | $1,924 | $1,674 | Debt |
| Paul M Pearson Gardens VQ001000014 | 279 | $1,610 | $1,502 | $1,638 | $1,509 | Debt |
| John F. Kennedy Terrace VQ001000022 | 234 | $2,062 | $1,433 | $1,563 | $1,654 | Debt |
| Louis E. Brown Villas VQ001000023 | 234 | $1,695 | $1,443 | $1,574 | $1,500 | Debt |
| Michael J. Kirwan Terrace VQ001000015 | 222 | $1,615 | $1,839 | $2,006 | $1,665 | Debt |
| RALPH deCHABERT Place VQ001000021 | 136 | $1,620 | $1,413 | $1,541 | $1,452 | Debt |
| Walter I.m. Hodge Pavilion VQ001000024 | 94 | $1,675 | $1,540 | $1,680 | $1,545 | Debt |
| Louis E. Brown Redevelopment VQ001000026 | 77 | $1,212 | $1,375 | $1,500 | $1,245 | Debt |
| Louis E. Brown Redevelopment II VQ001000027 | 10 | $946 | $1,125 | $1,228 | $1,006 | 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.