How is a "project-based voucher" characterized?

A project-based voucher is characterized by being tied to specific properties. This means that the vouchers are attached to particular rental units in designated properties rather than being transferable with the tenant. When a tenant uses a project-based voucher, their assistance is limited to the designated property that has been approved for the program.

This approach allows housing authorities to ensure that certain units remain affordable for low-income families while also providing a stable community. In contrast to tenant-based assistance, where a voucher holder can choose where to live within the jurisdiction of the housing authority, project-based vouchers link assistance directly to the property, which can help provide a predictable funding source for landlords and support property development in specific areas. This arrangement supports efforts to enhance neighborhood stability and mixed-income developments.