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
- July 15, 2015
July 14, the House of Representatives passed The Private Investment in Housing Act of 2015, H.R. 2997, by a vote of 395-28. The bill would authorize a pay-for-success demonstration program that leverages private funding to improve the water and energy efficiency of HUD multifamily developments.
- March 26, 2015
Earlier this week, HUD Secretary Julián Castro announced HUD's proposed regulation implementing the Violence Against Women Act (VAWA) Reauthorization of 2013 (VAWA 2013).
- 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
- September 29, 2015
As the baby boomer generation ages, the nation is grappling with meeting the demands of a growing population of seniors. Exchange ideas for addressing the housing and supportive services needs of older Americans, including models for accessibility, services provision and coordination, and aging in place.
- September 29, 2015
Discuss ways states are responding to housing and service needs of veterans, including using the Housing Credit, McKinney-Vento Homeless Assistance Grants, special vouchers, homeownership assistance, and
other resources to finance affordable rental housing and homeownership for veterans. Learn how HFAs use federal and state subsidies, statewide planning efforts, and case management to address veterans’ affordable