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Funding for Senior Affordable Housing

December 24th, 2012 Comments off

The Department of Housing and Urban Development (HUD) announces it has awarded $26 million in grants to the owners of non-profit owners of multi-family housing developments to convert their units into dwellings outfitted to accommodate the needs of the elderly seeking to age in place. With funding from HUD’s Assisted Living Conversion Program, the goal is to provide seniors who prefer to live independently but need assistance in the activities of daily living—dressing, eating, bathing, etc., much like what is provided in an assisted living facility. MHProNew has learned the 11 facilities represent nine states. As HUD’s Assistant Secretary for Housing Carol Galante says, “ We’re getting older as a nation and with that demographic shift, there is a growing demand for affordable housing that will allow our seniors to live independently in their own homes.”

(Photo credit: BloombergBusinessWeek)