Monday, Jun 24 2013 3:56PM

The AARP will invest millions into improving housing conditions for seniors.

The AARP Foundation has announced it will invest $2.5 million in affordable housing programs and innovative solutions to improve conditions for vulnerable individuals ages 50 and above. 

The funds are designed to accomplish a number of goals, including improvement and expansion of affordable and quality senior housing in rural areas. The funds will be divided among several groups that support the nation's critical housing needs, including NCB Capital Impact, Enterprise Community Loan Fund, Inc. and ROC USA.

"As people age, their need for safe and affordable housing grows more critical," said AARP Foundation President Jo Ann Jenkins. "For vulnerable older Americans housing upkeep is a challenge to maintain, particularly in these tough economic times. By utilizing this 'new' instrument of impact investment, AARP Foundation will be a catalyst for organizations to leverage these funds and make sure more families can find a way back to stability."

Housing quality and availability in rural and socially disadvantaged locations remains critical, and several agencies are currently extending loans and grants to improve access. The U.S. Department of Agriculture recently began accepting applications for grants that will help low- and very-low-income rural residents improve the quality of their homes. Similar to the AARP Foundation, the grants will be distributed through local governments and organizations, and then used to help individuals and families improve their housing conditions. 

For more information, check out this resource: The AARP Foundation