HUD-Assisted Housing 101
The preservation challenges vary somewhat from one HUD program to another. By far the biggest risks and challenges are with the Multifamily Subsidized Housing and the Project-based Section 8 program. In both programs, many owners seek to convert their buildings to market rate tents by either prepaying their HUD subsidized mortgage or by opting out of the Section 8 contract. HPP has enjoyed significant success, however, in developing legal and advocacy strategies to prevent the conversion of many of these properties to market rate. Beyond this work, HPP has tackled preservation challenges in other HUD programs as well.
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