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HUD Photo Office of Recap Mission
HUD Photo

Office of Recapitalization

The Office of Recapitalization (“Recap”) supports the preservation and recapitalization of federally-assisted housing and rental assistance for current and future generations. Recap structures, reviews, and implements transactions to ensure long-term physical and financial viability, often through public-private partnerships and the use of tax-incentivized financing. Recap also implements other affordable housing initiatives which leverage this transactional expertise. Programs currently or recently implemented by Recap include the Green and Resilient Retrofit Program (GRRP), Rental Assistance Demonstration (RAD), Mark-to-Market (M2M), Post Mark-to-Market (PM2M), Section 236 Preservation, Pre-1974 Section 202 Direct Loan Preservation (including SPRAC), Section 202 Capital Advance NOFAs, and Tenant and Community Engagement Initiatives.

   Recap Highlights
Post M2M BBRA

HUD published Housing Notice 2024-05, which implements the Department's authority to make Budget-Based Rent Adjustments for existing M2M properties with select criteria. (3/1/2024)

Visit the web page for more information.
GRRP logo

HUD awarded $73.5 million in new Green and Resilient Retrofit Program grants and loans for Wave 2 of the Leading Edge category. (2/22/2024)

Read the press release.
GRRP logo

HUD awarded $173.9 million under the GRRP program's Comprehensive and Elements categories, supporting energy efficiency and climate resilience measures at 30 multifamily properties.. (12/21/2023)

View the press release.
RAD Stories

RAD celebrated its 10th anniversary of the first public housing conversion. From preserving 32 homes in its first conversion to approximately 200,000 homes today, Recap's Director reflects on the past 10 years. (11/20/2023)

Read the reflections
Not Sure Who to Contact?
For the Office of Recapitalization Staff Directory visit our web page or select one of the programs below.
GRRP email grrp@hud.gov
RAD Public Housing email rad@hud.gov
RAD Multifamily Housing email rad2@hud.gov
Mark-to-Market email m2minfo@hud.gov
Post Mark-to-Market email PostM2M@hud.gov
Post Mark-to-Market Budget Based Rent Adjustments (BBRAs) email bbra@hud.gov
Section 236 Preservation email 236Preservation@hud.gov
Pre 1974 Section 202 Direct Loan Preservation email Pre1974Section202@hud.gov