Low Income Senior Housing Project Begins in Indiana

The Fountain City, Indiana Lions Club broke ground last week on their $1.1 million dollar low-income, senior housing project.  The club worked for 3 years to secure the property, financing and permits to build the 12 units project.  Units are available to seniors over 62 years of age and that earn 40-60% of the area’s […]

High End Adult Day Care Facilities make the grade?

Yesterday I highlighted the “Cadillac” of Adult Day Care Facilities that seemed to have all the bells and whistles and the price tag to along with it.  I thought I would highlight a few others around the country that have made the news lately. “Beacon Hill Village helps persons age 50 and older who live […]

SF Gay Seniors Get Affordable Housing Support

AF Evans, the Mayor’s Office on Housing in San Francisco, and Openhouse announced plans to build a new affordable, senior housing project at the former UC Extension site at Laguna.  Openhouse is a non-profit community-based organization founded ten years ago to provide housing, services and community programs for the city’s large and growing LGBT senior population. Based upon […]

Slow Housing Sales Hurts Seniors Wanting to Downsize

The current national housing market is slow for everyone and does not discriminate against the young and the old.  For many seniors that have significant equity in their home that represents a large portion of their net worth, a quick sale or a below market sale price is detremental to their financial situation that can […]

State of Illinois provides state loans and tax credits

A new senior housing facility with 67 units opened this month in Springfield, Illinois and the project received support from the state of Illinois with almost $8 million dollars in state loans and tax credits.  The facility was constructed by non-profit developer Abundant Faith Christian Center.    Sixty of the units are reserved for low income […]

Age restricted development a growing theme?

 I recently read an article that discussed a zoning commission’s rejection of a local developer’s proposal for a regulation change that would have created the way for a large housing development project but was turned down on the basis of age restriction.  While municipalities in general have provided incentives for age restricted developments in the forms of […]

New Jersey town demographics drive Senior Housing Projects

Thank goodness there are people with foresight on planning for their town’s growing senior citizen population and Buena, New Jersey is a terrific example.  The state’s growing senior citizen demographic is good news as far as borough development policy is concerned. Almost six years ago, the borough put out a welcome mat for builders eyeing […]

New Orleans senior housing project receives tax credit equity

Providence Community Housing and Enterprise recently announced the investment of $41 million in Gulf Opportunity (GO) Zone low-income housing tax credit equity to renovate three senior apartment buildings and one multi-family apartment building as part of a partnership to redevelop 7,000 houses and apartments damaged by Hurricane Katrina for low-income seniors and families.  The Gulf […]

CalHFA helps preserve affordable senior housing in Los Angeles

The California Housing Finance Agency (CalHFA) has approved $5.525 million in long term, 30 year fixed rate loans which will allow the owners of an existing affordable housing complex in Los Angeles to preserve affordable senior rentals in LA county.  The building, which houses 88 units, will undergo a seismic retrofit and receive replacement windows […]

Looming Senior Housing Shortage in California?

 An article in the Sacramento Bee raises a concern that there may not be enough Senior Housing supply for its aging population over the next 40 years.  City officials estimated that the number of Seniors who may require some type of specialized housing is expected to triple during this time period.  While Sacramento is the […]