Introduction
My focus
I work with for-profit developers, nonprofit developers, and public housing authorities across the country on regulatory and transactional matters involving multifamily affordable housing ownership, development, financing, rehabilitation, and preservation, as well as fair housing issues.
Looking ahead
Developers and public housing authorities will continue to utilize the Rental Assistance Demonstration (RAD) Program to rehabilitate and preserve affordable housing. With the expansion of the RAD Program to include Rental Supplement, Rental Assistance Payment, Moderate Rehabilitation, and Project Rental Assistance Contract (PRAC) assistance under the Second Component, owners and developers across the country will be able to access the resources necessary to preserve an aging stock of affordable housing.
In the news
- National Housing & Rehabilitation Association/HousingOnline.com
Nixon Peabody advises joint venture on California's first RAD for PRAC
The following article highlights NP’s work on a complex financing transaction and status conversion that will provide St. Stephens Retirement Center in San Diego with decades of financial certainty as well as funding to rehabilitate the property. This is the first deal ever in California to utilize the U.S. Department of Housing and Urban Development’s (HUD) “RAD for PRAC” program, which can help owners of eligible seniors housing properties convert existing rental assistance contracts to enable access to private capital for conducting repairs and improvements, as well as maintaining ownership in affordable housing properties. Washington, DC senior counsel Monica Sussman and New York counsel Kathie Soroka led the deal team, which also included Washington, DC associate Brendan Cardella-Koll, all of the Affordable Housing & Real Estate group.June 22, 2021 - McKnight’s Senior Living
Actions and Transactions
The following article highlights NP’s work on a complex financing transaction and status conversion that will provide St. Stephens Retirement Center in San Diego with decades of financial certainty as well as funding to rehabilitate the property. This is the first deal ever in California to utilize the U.S. Department of Housing and Urban Development’s (HUD) “RAD for PRAC” program, which can help owners of eligible seniors housing properties convert existing rental assistance contracts to enable access to private capital for conducting repairs and improvements, as well as maintaining ownership in affordable housing properties. Washington, DC senior counsel Monica Sussman and New York counsel Kathie Soroka led the deal team, which also included Washington, DC associate Brendan Cardella-Koll, all of the Affordable Housing & Real Estate group.June 21, 2021
Admitted to practice
District of Columbia
Education
Georgetown University Law Center, J.D.
Saint Louis University, B.S.
Recognition
- Selected, through a peer-review survey, for inclusion in Best Lawyers: Ones to Watch 2025 in the field of Real Estate Law
Insights And Happenings
View AllProfessionals in the Practice Area
View AllAaron J. Yowell
Partner / Chief Innovation Officer- New York
- Office:+1 212.940.3161
- ayowell@nixonpeabody.com
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