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HUD Awards $160M to Senior Housing Nonprofits

Saturday, Oct 07 2023
Lending
Written by  The Mortgage Leader

The Department of Housing and Urban Development has awarded $160.1 million in grants to 25 nonprofit providers of affordable senior housing. So reports McKnights Senior Living.

HUDThe funds will go towards building and running 1,788 homes overall, including 1,262 rent-assisted units as well as mixed-income communities comprising 526 affordable and market-rate units.

The grants are part of HUD’s Section 202 Supportive Housing for the Elderly program, which provides independent-living opportunities to low-income people ages 62 and up.

Read the full article from McKnights Senior Living.

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