Friday, Dec 28 2012 10:45PM
Federal grants may help some states provide more assisted living housing to seniors.
The U.S. Department of Housing and Urban Development (HUD) provided $26 million in grants to several states to convert apartments into assisted living and senior housing.
The funds were awarded through the HUD's Assisted Living Conversion Program and will be used to transform apartments into affordable housing that is equipped to meet the needs of elderly or disabled seniors.
"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," said HUD Assistant Secretary for Housing and Federal Housing Commissioner Carol Galante. "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."
The grants will be provided to several states, including Arizona, California and Colorado. Many elderly individuals are particularly vulnerable to housing issues as medical bills and limited savings can dry up their resources quickly. In response, many developers, state agencies and government organizations alike are providing grants, loans and other forms of affordable housing assistance.
For more information, check out this resource: The U.S. Department of Housing and Urban Development