The U.S. Department of Housing and Urban Development (HUD) is allocating $26 million in grants to the owners of multifamily housing developments in nine states to convert some or all of their apartments into assisted living or service-enriched environments for elderly residents.
The funding announced today is provided through HUD's Assisted Living Conversion Program, which supports the transformation of housing into units that can accommodate the special needs of seniors seeking to remain in their homes or ‘age in place.’ The grants provide private, nonprofit owners of eligible developments with resources to convert some or all of the dwelling units in the project into an assisted living facility or service-enriched housing for elderly residents.
‘We're getting older as a nation, and with that demographic shift, there is a growing demand for affordable housing that will allow our seniors to live independently in their own homes,’ says Carol Galante, HUD's assistant secretary for housing and acting commissioner of the Federal Housing Administration. ‘These grants will help these apartment owners to convert their properties into assisted living or service-enriched environments that will allow seniors to remain in their homes for as long as they can.’
