The Department of Housing and Urban Development (HUD) has proposed a rule to streamline requirements for mixed-finance developments through its Section 202 Supportive Housing for the Elderly program in a bid to encourage private market participation. The rule would “remove restrictions on the portions of developments not funded through capital advances, thereby lifting barriers on [...]
The MacArthur Foundation, a leader in affordable housing, announced last month it would be awarding grants totaling more than $2.5 million to various institutions for research that explores the role of housing in the long-term health and well-being of older adults. Grant recipients include: LeadingAge Center for Applied Research – $698,000 to study the impact [...]
The growth in the nation’s 65+ population will pump up demand for affordable, accessible seniors housing, says a Bipartisan Policy Center report, but the housing market might plunge all over again as the older population begins to release much more housing than it absorbs. Affordable Housing Shortage a “Serious Problem” Both senior homeowners and renters are [...]
More than nine million retired Americans are struggling to cover their basic living expenses, according to a new study released by Wider Opportunities for Women (WOW), an organization dedicated to economic independence for America’s families. A majority of elder households have insufficient income based on the Elder Economic Security Standard (Elder Index), says the study, [...]
Fresno Senior Living Community to Break Ground on $120 Million Expansion Project The Terraces at San Joaquin Gardens in Fresno, Calif. will break ground this Thursday on the second of two phases of an expansion/renovation project. Phase II of construction includes a new commons building, new residential living and health care accommodations, office space, and [...]
This is a followup to “Will the Nation Go Broke Paying for Senior Housing & Long-Term Care?” as part of a series of articles about senior housing and care options, alternatives, and opportunities. It’s becoming increasingly apparent that the nation will need to come up with some innovative solutions to weather the impending “silver tsunami” [...]
The Federal Housing Administration unveiled a new pilot program on Friday, Feb. 10, that will accelerate the approval process for the purchase or refinancing of multi-family rental properties assisted through the Low-Income Housing Tax Credit (LIHTC). The pilot program will be launched in Chicago, Detroit, Boston, and Los Angeles, and the FHA believes it will [...]
The Department of Housing and Urban Development (HUD) announced last week that $31.5 million was being made available for its Section 202 Supportive Housing for the Elderly program, which will give hundreds of very low-income seniors access to affordable housing. These funds will be distributed to non-profit organizations in five states. Grants from the Section [...]
Nevada H.A.N.D., a non-profit affordable housing provider, recently celebrated the opening of Silver Sky at Deer Springs, a low-income assisted living community in Deer Springs, Nevada. The facility was developed and funded with help from the State of Nevada Housing Division’s ARRA stimulus funds through the Low-Income Housing Tax Credit Exchange Program, City of Las [...]
On the Record: Steven Insoft, CFO & COO of Aviv REIT
While publicly traded healthcare real estate investment trusts (REITs) like HCP, Inc., Ventas, Inc., and Health Care REIT Inc. grab a lot of headlines, privately traded ones like Aviv REIT often seem to fly under the radar. But as Senior Housing News recently discovered after speaking with Aviv’s Steven Insoft, who holds dual roles of [...]
On the Record: Majd Alwan, Executive Director of LeadingAge CAST
With technological advancements tied so closely to the future of senior care, Senior Housing News recently interviewed Majd Alwan, Ph.D., the Senior Vice President of Technology and Executive Director of the Center for Aging Services Technologies (CAST) at LeadingAge, an association of not-for-profit, long-term care providers of senior services. At any given time, CAST is [...]
On the Record: Keith Reuben, EVP of Commercial & Specialty Lending at Capital One Bank
In the past 30 years, Capital One has transformed itself from “just” a credit card company into one of the U.S.’s top banks. And as part of its lending arm, Capital One Bank says it has a significant focus on its commercial and specialty finance business, which encompasses senior housing and care lending. Last Fall, [...]
On the Record: Adam Kane, SVP of Corporate Affairs at Erickson Living
In 2009, the company known as Erickson Retirement Communities, headquartered in Baltimore, Md., filed for Chapter 11 bankruptcy protection. In December of that year, Hanover, Md.-based Redwood Capital Investments LLC bought most of the bankrupt company’s assets for $365 million, out of which emerged Erickson Living. Senior Housing News recently caught up with Adam Kane, [...]
On the Record: David Reis, CEO of Senior Care Development
After seeing that Senior Care Development, LLC had placed a stalking-horse bid on the bankrupt Clare at Water Tower, in Chicago’s Gold Coast, Senior Housing News tracked down its chief executive officer David Reis for an exclusive interview. Reis has extensive experience in senior living development, and specializes in ground-up development of large-scale continuing care [...]
