Experience. Rapport. Community Building.
RAD Conversion Specialists, LLC (RCS) combines the management, consulting and operations experience of Premier Property Management, LLC (“Premier”) and its Principal, Robert Beale, with the development, construction, ownership and financing experience of The Slavik Company (“Slavik”) and its principals. RCS was formed for the specific purpose of sharing 85 years of combined affordable housing experience with Public Housing decision-makers deciding whether or not conversion of their units under HUD’s Rental Assistance Demonstration (RAD) Program is right for their agency.
Premier and Slavik first combined efforts in 1999 to respond to a Request for Proposals from the Detroit Housing Commission to redevelop its Jeffries Homes Public Housing Project under HUD’s HOPE VI Program. Our group, Scripps Park Associates, LLC, was ultimately selected as Master Developer and we have spent the past 14 years planning and implementing the $98.2 million transformation of two of Detroit’s worst public housing projects into new and vibrant communities of mixed-income rental units, for-sale single-family homes and townhomes, parks, community open space and community centers. Like most of the other projects we have completed, this project required stakeholder input and feedback, coordinating the activities of market analysts, environmental consultants, CNA consultants, lenders, tax credit investors, architects, engineers, general contractors and others.
This experience provides RCS with the unique ability to assist in all phases of a potential RAD Conversion – Assessment, Application and Implementation. The Assessment Phase includes an analysis of the potential benefits and pitfalls of a RAD conversion, including the decision to convert public housing units to Section 8 project-based vouchers (PBV’s) or project-based rental assistance (PBRA). The Application Phase requires, among other things, detailed development and operating pro-formas and mandatory resident meetings. While RCS has the experience and ability to guide PHA’s through these phases, the Implementation Phase is where RCS can provide the most value. Our proven financial acumen and experience with low-income housing tax credits, FHA loans, HOME Funds, Replacement Housing Factor (RHF) Funds, as well as our connections with lenders and tax credit investors, will expedite the Implementation Phase and lead to a very successful conversion.
The RAD Program offers a tremendous opportunity for housing authorities that could potentially provide funding to complete deferred maintenance, update and improve residential units & mechanical systems and fund replacement reserves – resulting in decreased future operating and maintenance expenses. RAD Conversion Specialists, LLC combines the real-world success of its principals with a demonstrated ability to work cooperatively and efficiently in public-private partnerships with housing agencies of varying sizes and competence. Our successful planning, development, construction and efficient management of affordable housing clearly demonstrates our ability to get the job done and sets us apart from other "consultants".