SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM
WHATFinancing for the construction, rehabilitation, acquisition of supportive housing for low-income elderly or rental subsidies for affordable housing.
WHYTo increase the supply of affordable housing and support services for the elderly allowing them to live independently.
WHERESection 202.
Supportive Housing for the Elderly Program.
U.S. Department of Housing and Urban Development. Across the USA.
Supportive Housing for the Elderly Program.
U.S. Department of Housing and Urban Development. Across the USA.
Program Description
Occupancy in Section 202 housing is open to any very low-income household comprised of at least one person who is at least 62 years old at the time of initial occupancy.
The U.S. Department of Housing and Urban Development (HUD) provides interest-free capital advances to private, nonprofit sponsors to finance the development of supportive housing for the elderly.
Project rental assistance funds are provided to cover the difference between the HUD approved operating cost for the project and the tenants' contribution towards rent.
source: hud.gov
Senior Housing, Assisted Living
Senior Subsidized, Affordable Housing Assistance