With the credit crunch hurting developers and tax credit financing deals falling apart all over Wall Street, could the use of tax abatements help provide necessary incentives to developers and tenants of the new or rehabilitated senior housing projects? Could abatements from city, school, and county taxes provide developers enough cushion to make their marginal […]
Category: Affordable Housing
Between rising commodity prices, the increasing cost of capital, the re-pricing of risk and a credit market that is thoroughly in disrepair, a survey showing the average prices for different types of senior housing rising should not be a surprise. According to results from an analysis by Irving Levin Associates, the average price paid per […]
Last Wednesday, the Wall Street Journal ran an article that discussed the large institutional lenders and government sponsored entities (Fannie Mae and Freddie Mac) lack of participation in the federal government’s affordable housing tax credit program. As these companies have losses associated with write downs and credit related issues, their need for the tax credits […]
Southern California is starting to get concerned about the exodus of seniors leaving the area for cheaper areas and is starting to do something about it. As pressure increases to keep seniors in Orange County, municipalities are looking at solutions to keep seniors in the area by re-examining some zoning policies that have age restrictions. […]
As private pay centers grow across the United States, the question of whether these types of facilities will ever accept state or federal aid as payments for monthly rent in these units. Nationally, assisted living costs an average of $2,969 a month, or $35,628 annually, according to the American Association of Homes and Services for […]
On February 26, the Center for Medicare and Medicaid Studies released its report of “Health Spending Projections Through 2017: The Baby-Boom Generation Is Coming to Medicare” that showed that home health care spending is projected to grow by 9.2% in 2007. The study projects that home health is expected to grow approximately 7.7% per year. […]
As more senior housing developments are being developed with public housing funds, the questions regarding updating and improving existing senior housing projects arise. Some senior housing projects are so old and out of date that demolishing rather than rehabbing and refurbishing these older buildings and complexes. The state of Connecticut has been using its Small […]
The decline in U.S. home prices continued to accelerate in the 4th quarter according to the S&P/Case-Shiller national home price index. The drop was the largest in the index’s 20 year history. The lower home values threaten the economy by making consumer feel less wealthy and less willing to spend money on discretionary items. This […]
One of the pleasures of traveling is reading local papers in the towns on my visits and saw something relevant while I was in Aspen, Colorado recently. After seeing some of the homes in the area listed in the multi-million dollar range and seeing that the qualifications of 60 years of age or older and […]
Are limits on senior housing in communities a violation of Fair Housing? The town of Newton, Massachusetts has an ordinance that restricts senior housing to 10% of the total number of houses in the town. Based upon the work of a former planning board member, the decade old restriction could be raised to 20%. With […]