State HFAs and their partners provide affordable housing for elderly persons through the Section 202 Supportive Housing for the Elderly program, the Section 8 program, and other affordable housing programs.
Under the Section 202 program, HUD provides capital advances to finance the construction, rehabilitation, or acquisition with or without rehabilitation of structures that will serve as supportive housing for very low-income elderly persons, including the frail elderly, and provides rent subsidies for the projects to help make them affordable. In addition, HFAs provide home equity conversion mortgages (HECM), an FHA-insured reverse mortgage, allowing seniors (62 and over) to access the equity in their home.
NCSHA Blog Posts
- October 9, 2014
HUD published in the October 7 Federal Register a Proposed Rule for implementing statutory reforms made to the Section 811 Housing for Persons with Disabilities and Section 202 Housing for the Elderly programs by the Frank Melville Supportive Housing Investment Act of 2010 and the Section 202 Supportive Housing for the Elderly Act of 2010, both of which were enacted on January 4, 2011.
- September 5, 2014
This week, the Joint Center for Housing Studies of Harvard University (JCHS) released a report entitled "Housing America’s Older Adults: Meeting the Needs of an Aging Population." The report examines a number of trends for older adults, defined in the report as those aged 50 years and older, including housing preferences, disability rates, and income.
- Harvard University Joint Center for Housing Studies
- MassHousing Announces Loan Closing of $3.2 Million to Renovate the Mary Colbert Apartments for Low-Income Seniors in CharlestownJune 26, 2014
Low-income senior citizens living at the 30-unit Mary Colbert Apartments in Charlestown will see major improvements to the property as a result of a $3.2 million MassHousing construction and permanent loan.
- May 1, 2014
Seniors on a limited income now have more options for quality, affordable apartments in Cass County with the opening of Parkside Place.
Elderly Housing - Resources
- February 27, 2015
The 2015 NCSHA Congressional Handout is available for download here. This effective tool may be used when speaking to members of Congress, state officials, and business partners alike. Filled with recent statistics and compelling graphics, this informational brochure may be used to share with your constituents the important work that HFAs do and why they do it.
- February 10, 2015