Richard Michael Price - Real Estate lawyer - Nixon Peabody LLP

Richard Michael Price

Richard Price focuses on real estate finance and regulation, affordable and rural housing and community development, government contracts, administrative law and legislation. He assists for-profit and nonprofit businesses and government agencies.

What do you focus on?

I focus on real estate finance and regulation in four different settings.


As a transactional attorney, I close transactions financed through complex commercial financing and federal and state financing programs including multifamily mortgage loans, tax credit equity and tax-exempt bond proceeds.


As a regulatory attorney, I assist clients with a broad array of approvals including mortgage assignments and property transfers. I also represent parties in fair housing, lead-based paint and RESPA compliance.


As a litigator I defend clients before HUD, USDA and federal courts concerning suspensions, civil money penalties, debarments and nonprocurement and procurement contracts. I build on my experience as a trial attorney in the Office of General Counsel at the U.S. Department of Housing and Urban Development for this work.


I am often involved with advocacy on new housing legislation. I’ve even advised non-governmental organizations about increasing housing opportunities in other countries. I have served on several housing industry boards and represent industry organizations. I enjoy writing and speaking about new issues affecting housing, administrative law, finance and real estate.

What do you see on the horizon?

As we move into 2022 and year 3 of COVID issues, housing will reflect the societal and economic changes of the last two years. We have begun to “live with COVID” to a degree. The federal funding infusions, as well as the otherwise-brisk economy, have led more people to seek more and new housing accommodations. Affordable housing preservation and expansion continues to be a top-level issue, more so than for the past generation, and the demand for housing in general and need for affordable housing in particular are likely to continue through 2022. Government programs have taken on even greater importance in the current economy as people seek healthful housing choices.

Publications and Presentations

  • “General Session Asset Management and Servicing Issues: Nitty Gritty with RD and HUD,” CARH Annual Meeting and Legislative Conference, June 29, 2022
  • “Washington, DC Report,” CARH Annual Meeting and Legislative Conference, June 27, 2022
  • “Today’s Preservation Hot Buttons,” NLHA 50th Annual Membership Meeting, June 23, 2022
  • “Understanding Federal Rural Financing Programs,” NCSHA's 2022 HFA Institute, Webinar, January 14, 2022
  • “Rural affordable housing preservation issues and strategies,” Journal of Affordable Housing and Community Development, Volume 30, Number 1, July 22, 2021 (co-author)
  • “Affordable Housing: The Year Ahead,” Nixon Peabody, Webinar, February 9, 2021
  • “Portfolio Analysis – Preservation During Changing Times,’ 2021 CARH Virtual Midyear Meeting, Webinar, January 26, 2021
  • “State of the States – Washington, DC Report,” 2021 CARH Virtual Midyear Meeting, Webinar, January 25, 2021
  • “Affordable Housing and Real Estate Update,” Nixon Peabody, Webinar, December 3, 2020
  • “Emerging Legal Trends to Watch,” 2020 MHI Community Education Workshops, Webinar, November 5, 2020
  • “Select Low Income Housing Legal Issues: Multifamily Occupancy, Restrictions and Preservation,” Strafford Webinar, September 8, 2020
  • “Federal Eviction Moratorium,” Manufactured Housing Institute (MHI), Webinar, September 4, 2020
  • “CDC Agency Order, Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19,” Mortgage Bankers Association, Webinar, September 3, 2020
  • “Opportunity Zones Hot Topics Webinar,” Nixon Peabody, June 11, 2020
  • “COVID-19 Webinar 3.0—Guidance and updates for the affordable housing Industry,” Nixon Peabody, Webinar, May 20, 2020
  • “COVID-19 Webinar 2.0—Guidance and Updates for the Affordable Housing Industry,” Nixon Peabody, Webinar, April 13, 2020
  • “COVID-19 Guidance and Updates for the Affordable Housing Industry,” Nixon Peabody, Webinar, March 31, 2020
  • “Owner/Manager Best Practices Roundtable,” 2020 NLHA Mid-Year Meeting, Indian Wells, CA, February 6, 2020
  • “Accessibility and the Web,” CARH 2020 Midyear Meeting, New Orleans, LA, January 27, 2020
  • Housing Association of Mississippi, 2019 Annual Convention, October 23-25, 2019 (development issues, federal housing policy)
  • “The Changing REAC Landscape & What It Means For Your Company,” NH&RA Fall Developers Forum 2019, October 16, 2019
  • CARH Annual Meeting, “Understanding Washington-Analysis by CARH’s Capital Insiders,” June 24, 2019
  • Institute for Responsible Housing Preservation, “Opportunities in Today’s Marketplace,” May 9, 2019
  • Carolinas Council for Affordable Housing: 2019 Annual Conference, April 28-30, 2019 (legislative update, tax-exempt bonds)
  • “Affordable Housing Opportunity Zones” Lorman (Webinar Course) (Presenter), April 26, 2019
  • NAHB International Builders’ Show, “Qualified Opportunity Funds,” February 20, 2019
  • National Council of State Housing Agencies, January 7, 2019 (rural housing, housing credits)
  • Bisnow’s DC Opportunity Zones: Everything You Need to Know to Capitalize on this New Law Finding the Best Returns in DC O-Zone Investing, October 16, 2018
  • RAD Progress and Best Practices, June 20-22, 2018
  • Alabama Affordable Housing Annual Meeting, May 22, 2018
  • Housing and Development Law Institute, May 17-18, 2018 (RAD audits, and lead-based paint).
  • Owner/Manager Best Practices Roundtable, National Leased Housing Association, January 24, 2018
  • Metropolitan Washington Council of Governments, Housing Directors Advisory Committee, January 18, 2018 (tax reform, opportunity zones).
  • “Preservation through Portfolio Sales,” Novogradac Tax Credit Developers Conference, January 2018
  • “What’s New with HUD & RD?” Ohio Housing Council Fall Symposium, October 4, 2017
  • “The Future of Rural Low Income Housing Tax Credits,” New York State Rural Housing Coalition, September 12, 2017
  • National Leased Housing Association, Annual Membership Meeting, June 22–23, 2017 (RAD)
  • Novogradac Affordable Housing Conference, May 26, 2016, May 19, 2017 (HUD finance and enforcement)
  • “Affordable Housing Preservation,” Institute for Responsible Housing Preservation, May 16–17, 2017 (inspections, previous participation clearance)
  • Marcus & Milichap/IPA Multifamily Forum DC 2017, March 28, 2017 (federal housing policy and funding)
  • Bisnow’s Sixth Annual DC Region Affordable Housing Conference, February 9, 2017 (DC area housing market and programs)
  • Council for Affordable and Rural Housing, Mid-Year and Annual Meeting 2017 (USDA housing programs, low income housing tax credit)
  • “An Exploration of Federal Rural Rental Housing Policy,” National Rural Housing Coalition, October 4, 2016 (housing finance)
  • “The Developer-Syndicator Relationship,” Novogradac Affordable Housing Conference, May 26–27, 2016
  • Alabama Affordable Housing Association, Annual Meeting, 2016
  • “Affordable Housing Preservation: A Look Ahead,” Institute for Responsible Housing Preservation, May 6–7, 2014, and April 28 and 29, 2015 (mark-to-market)
  • Housing Assistance Council, December 3–5, 2015 (low income housing tax credit)
  • “Overview of federal housing structur——HUD non-procurement government contracting,” Lawline CLE webinar, June 13, 2014
  • “Fair Housing and Housing Accessibility—An Overview,” Lawline CLE webinar, June 13, 2014
  • “Qui Tam,” Lawline CLE webinar, June 13, 2014
  • “Overview of Federal Housing Structure: HUD Non-Procurement Government Contracting,” Lawline (webinar courses) (presenter/co-author/author), June 2014
  • “Fair Housing and Housing Accessibility Law: An Overview,” Lawline (webinar courses) (presenter/co-author/author), June 2014
  • Florida CARH Annual Meetings, 2014 (federal housing law)
  • Michigan Rural Development Council, 2014 Annual Meeting (federal housing issues)
  • “TOPA: The Tenant Opportunity to Purchase Act,” Lawline (webinar courses) (presenter/co-author/author), September 2013
  • National Housing & Rehabilitation Association, July 24–27, 2013 (HUD and RD)
  • “Tax Credit Property Dispositions Plus Affordable Housing Update,” Institute for Professional and Executive Development, July 11–13, 2013 (co-chair; federal budget and subsidies)
  • Washington State Council for Affordable and Rural Housing, AHMA/CARH Joint Conventions, 2013 (federal budget, federal housing law)
  • AHF Live, November 14-22, 2012 (preserving older tax credit properties)
  • Nevada Council for Affordable Housing, Annual Conference, 2010 (federal appropriations)
  • ABA Real Property, Trusts & Estates Law, speaker or moderator at multiple conferences from 2007–2009 (new markets tax credit; housing finance in Washington, DC)

You've been warned: New HUD guidance on marketing and waitlist management

Affordable Housing Finance | June 16, 2022

This article co-authored by Affordable Housing & Real Estate partners Harry Kelly and Richard Price, and Complex Disputes associate Myra Benjamin, all of the Washington, DC office, covers new federal guidance related to marketing and waitlist management for subsidized properties and what it means for housing providers

Preservation issues and strategies for USDA's Rural Housing Service multifamily direct loan portfolio

Journal of Affordable Housing | July 26, 2021

Washington, DC Affordable Housing & Real Estate partner and Housing Regulatory team leader Richard Price and associate Rebecca Simon contributed this article discussing recent developments in the U.S. Department of Agriculture’s Rental Housing Service programs, funding issues that have created challenges to preservation, and preservation strategies that have been used to overcome, in part, the funding challenges.

Congress Gives Boost to Affordable Housing, Hotel Occupancy Misses the Holiday Spirit, Personal Income Falls

CoStar News | December 23, 2020

Boston Community Development Finance partner Forrest Milder and Washington, D.C. Affordable Housing & Real Estate partner Richard Price comment on the low-income housing tax credit rate being fixed at 4% in Congress’ recently passed spending bill, and what that could mean in practical terms.

Understanding Cash Controls for HUD-Assisted Multifamily Properties

Affordable Housing Finance | September 10, 2020

Washington, D.C. Affordable Housing & Real Estate partner Richard Price contributed this article which breaks down some of the complexities of managing the Department of Housing and Urban Development’s multifamily programs.

Biotechnology Innovation Organization taps new CEO

Politico | May 14, 2020

This roundup of lobby hires mentions that apartment industry advocacy group National Multifamily Housing Council has hired Washington, DC, Affordable Housing and Real Estate partner Richard Price to lobby on amendments to the CARES Act.

How COVID-19 is affecting affordable housing (so far)

Affordable Housing Finance | March 31, 2020

Washington, D.C. Affordable Housing and Real Estate partner Richard Price shares his perspective on the early impact of COVID-19 on the affordable housing industry, including how the federal government should respond.


Richard Michael Price


Washington, DC

Phone: 202-585-8716

Fax: 202-585-8080

George Washington University, J.D.

George Washington University, B.A.



District of Columbia

U.S. District Court, District of Columbia

U.S. District Court, District of Maryland

U.S. Court of Federal Claims

U.S. Court of Appeals, Fourth Circuit

U.S. Court of Appeals, Tenth Circuit

U.S. Supreme Court

U.S. Court of Appeals, Federal Circuit

Richard was recognized in the 2014 edition of Washington, DC, and Baltimore's Top Rated Lawyers, a joint publication by ALM and Martindale-Hubbell. In 2003, he received the outstanding Leadership Award from the Apartment and Office Building Association of Metropolitan Washington (AOBA). In 2002, Richard received a Pro Bono recognition award from the Neighborhood Housing Services of New York City, Inc. He is AV Peer Review Rated by Martindale-Hubbell.

  • NHS Mortgage Corp., Director, Board of Directors, (2007-2009)
  • Governmental Incentives Committee, Real Property Division, American Bar Association Chair (2010-2012), Vice-Chair (2006-2009)
  • Montgomery County Commission on Common Ownership Communities, Chair, Commissioner (2002)
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