New HUD Restrictions Limit Condo Construction

HUD has established new rules limiting the percentage of units in a building that can get FHA loans. Developers cry foul, calling it a bias against affordable housing and density.

1 minute read

August 25, 2009, 2:00 PM PDT

By Tim Halbur


"[Developer] Diana Chevalier, owner of Project Approval Services, said she was so upset when she learned of HUD's new restrictions that she hopped the first plane to Washington, D.C."

"'I took a $1,000 flight, and I met with Margaret Burns,' Chevalier said of the director of HUD's Office of Single Family Program Development. 'What the FHA is doing is trying to limit their exposure in existing condos and new condos and this is their way of monitoring their exposure.'"

Monday, August 24, 2009 in San Diego Business Journal

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I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

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