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When you work with Housing-Solutions, our expert
team does the work for you - from start to finish.
Call
us today at 720-338-6362
rogers@housing-solutions.com
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Affordable Assisted Living
Senior housing owners and federal policymakers are struggling with
the difficult question of how to provide services in independent
living or elderly housing settings for a population of seniors who
are not ready for the institutional environment of a nursing home.
The crisis is the increasing frailty of thousands of elderly residents
of subsidized facilities. These seniors need and deserve housing
with supportive services designed to enable them to age in place,
in their homes and in their communities.
Assisted Living Facilities (ALFs) are designed to accommodate the
frail elderly who can live independently but need assistance with
activities of daily living (e.g., assistance with eating, bathing,
grooming, dressing or home management activities). ALFs provide
support services such as personal care, transportation, meals, housekeeping,
and laundry.
There are a variety of ways to create facilities that will provide
affordable assisted living to very-low-income seniors.
In 1993, a majority of residents in rent-assisted elderly housing
were over 75 years of age. The proportion is even higher today.
Many have increasing need for assistance with tasks of daily living
to maintain their independence and to retain their apartments in
subsidized housing communities.
Click Here for more
information
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Assisted Living Financing Options
Several methodologies may be used to fund conversion
or construction of new affordable ALFs.
- Assisted Living Conversion Program (ALCP) funds are available
to current HUD elderly subsidized developments that convert some
or all units to assisted living. This includes communities with
Section 236, Section 515, 221(d)(3) loans, Section 202, and Section
8 funding that are currently owned by a not-for-profit entity.
- HUD PIH Voucher Conversion program
- Low Income Housing Tax Credit (LIHTC) equity and debt financing
- Conventional Debt and Equity Financing
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 Developing
affordable senior housing is no easy task. Government housing programs
are notoriously complicated and highly competitive. Understanding
the many regulations can take up an enormous amount of your valuable
time.
Getting an affordable housing facility financed and built is one
thing; making sure it operates soundly over the long haul is another
matter altogether.
When you work with Housing-Solutions, our expert team does the
work for you—from start to finish.
Call Us at:
720-338-6362
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Call
us today at 720-338-6362 or email: rogers@housing-solutions.com
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