About the Multifamily Housing Program
Our Multifamily Housing program is relatively new to the Cumberland Housing Group and is a direct result of our approval by HUD to participate in the Rental Assistance Demonstration (RAD) program which converts an existing Public Housing development to a Multifamily Housing development. In federal Multifamily Housing, the owner has a contract directly with the U.S. Department of Housing and Urban Development (HUD). HUD provides rental subsidies, below-market interest financing, mortgage insurance, or other forms of assistance. A multi-family home is a single building that’s set up to accommodate more than one family living separately.
Multifamily Housing can consist of several different individual or combination of affordable Housing Programs which contain somewhat varied application and qualification requirements. We encourage you to review the other pages within this section to determine if you are interested and qualify for the Multifamily Housing program. If you have any questions, please don’t hesitate to contact us and speak to a Multifamily Housing Property Manager who specializes in the qualifications and requirements of the program.
Our Multifamily Housing Developments
Our Multifamily Housing Program operates at the following locations:
- River Bend Court, 50 Lamont Street (new applications are now being accepted for this development)
- This development was originally constructed in 1958-1960 and was converted under the HUD RAD program in July 2020. It is currently undergoing a $19.8 million renovation. River Bend Court is owned by the River Bend Court LP with the River Bend Court LLC being the General and controlling Partner. The River Bend Court LLC is solely owned by the Cumberland Housing Alliance which is a nonprofit agency of the Cumberland Housing Group.
- See our advertisement here
- Four additional developments are in the evaluation stage to determine the feasibility of program conversion.