Section 8 NC – Multifamily

Section Eight New Construction (Multifamily)

  • The Section 8 Program was authorized by Congress in 1974 and developed by HUD to provide rental subsidies for eligible tenant families (including single persons) residing in newly constructed, rehabilitated and existing rental and cooperative apartment projects.
  • The rents of some of the residential units are subsidized by HUD under the Section 8 New Construction (“New Construction”), Program. All such assistance is “project-based” meaning that the subsidy is committed by HUD for the assisted units of a particular Mortgaged Property for a contractually determined period.

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