Wednesday, March 14, 2012

HUD Offers $25 Million to Convert Multifamily Apartment Buildings into Assisted Living Facilities via RealEstateRama.com

The U.S. Department of Housing and Urban Development today announced the availability of up to $25 million to help convert multifamily apartment complexes into assisted living facilities or service-enriched housing for low-income senior citizens. The funding offered through HUD’s Assisted Living Conversion Program will provide grants for the physical conversion of eligible multifamily assisted housing projects (or portions of projects) to assisted living facilities or service-enriched housing. Read the funding notice published today.

“These grants offer an opportunity for low-income seniors to remain living independently in their homes while still receiving the services they need on a day-to-day basis. Most importantly, they will not have to move from their familiar surroundings as they become older and need supportive services,” said HUD Secretary Shaun Donovan.

Assisted living facilities are designed to accommodate low-income frail elderly persons and persons with disabilities who can live independently but need assistance with the activities of daily living such as help with eating, bathing, dressing and home management activities. These affordable facilities directly provide or facilitate the delivery of support services such as personal care, transportation, meals, and housekeeping.

Read more...HUD OFFERS $25 MILLION TO CONVERT MULTIFAMILY APARTMENT BUILDINGS INTO ASSISTED LIVING FACILITIES | RealEstateRama

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