Industry News

Public housing to get $2.2 billion facelift

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The Department of Housing and Urban Development on Monday awarded more than 3,145 public housing agencies across the nation $2.2 billion in federal funding to make large-scale improvements to their public housing developments. The funding comes from HUD's Capital Fund program, which is distributed annually to public housing agencies (PHAs) to help them develop, finance, and/or modernize the public housing in their communities. The funding can also be used to improve management operations within the agency. "Just over a million families rely on local public housing agencies to provide safe, decent housing," said HUD Secretary Alphonso Jackson, who announced the funding. "This funding gives these entities the resources to make major improvements to their developments. HUD is proud to assist them in this effort to provide quality affordable housing." Over the past five years, PHAs in New York City, Chicago, Philadelphia and other cities have leveraged this funding, through the Capital ...