Recognizing Functional Obsolescence in Determining Eligibility for Public Housing Demolition and Disposition
By Rob Hazelton & Greg Byrne
I am pleased to present the following white paper on "Recognizing Functional Obsolescence" in the public housing portfolio. Working alongside Greg Byrne, formerly with HUD's Office of Recapitalization, we concluded over 150 Section 18 cost obsolescence studies prepared by D3G.
A data-driven approach to obsolescence demonstrates that legacy public housing (i.e., housing over 60 years of age) that has not received additional grants, loans, or subsidies aside from regular Capital Funds, will 'pass' the Section 18 obsolescence standards.
Considering the typical “functional obsolescent" items of legacy public housing create an ideal opportunity for HUD to streamline the Section 18 process. Recognition of functional and cost obsolescence in legacy housing will benefit HUD, municipalities, and most of all, the residents of these aging assets. Enjoy the read, and feel free to share your thoughts!
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