Multi Family-New Construction
The rents of some of the residential units are subsidized by HUD under the Multi Family-Section 8 New Construction (“New Construction”), Substantial Rehabilitation (“Substantial Rehabilitation”), and/or Loan Management Set-Aside (“LMSA”) programs. All such assistance is “project-based”, i.e.; the subsidy is committed by HUD for the assisted units of a particular mortgaged property for a contractually determined period.
The New Construction and Substantial Rehabilitation programs provide rental assistance in connection with the development of newly constructed or substantially rehabilitated privately owned rental housing financed with any type of construction or permanent financing, including the applicable FHA Multifamily Mortgage Insurance programs. The maximum term of assistance provided by HUD under the New Construction and Substantial Rehabilitation programs for a project financed with the proceeds of a loan insured by FHA is 20 years.
<h3>To apply for the new construction program at MID-EAST click on the button below and download the application.</h3>New Construction Application
The Housing and Urban Rural Recovery Housing Act of 1983 repealed the statutory authority for the New Construction and Substantial Rehabilitation programs.
Mid-East Regional Housing Authority
presently owns five Multi Family Section 8 New Construction projects, Deerfield 1, Deerfield 2, Winterville Court, Windsor Oaks and Quail Ridge. which consists of 155 units total. For questions please contact: Wendy Rowe for Deerfield 1, Deerfield 2 and Winterville, Latrica Hines for Windsor and Kathy Williamson for Quail Ridge.