The U.S. Department of Housing and Urban Development (HUD) has granted a total of $26 million to apartment owners in nine states to convert their buildings into senior housing.
HUD’s Assisted Living Conversion Program is providing the funds. The program offers grants to private, nonprofit multi-unit properties that are willing to convert to service-enriched housing or a licensed assisted living facility.
“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 Carol Galante, HUD’s Assistant Secretary for Housing and Federal Housing Commissioner, in a release. “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.”
Arizona, California, Colorado, Connecticut, Massachusetts, Minnesota, New York, Ohio and Texas each received between $1.3 million and $4 million to create the new living spaces.