Age-Friendly Funding Alert: HUD Supportive Housing for the Elderly Program

In a recent announcement, the US Department of Housing and Urban Development released a $50 million funding opportunity for the Section 202 Supportive Housing for the Elderly program.

The program provides Capital Advance funding for the development and operation of supportive rental housing for very-low-income persons aged 62 years or older and project rental subsidies in the form of a Project Rental Assistance Contract (“PRAC”) to maintain ongoing affordability. This program provides very-low-income elderly persons with the opportunity to live independently, but with important voluntary support services such as nutritional, transportation, continuing education, and/or health-related services.

HUD seeks to fund Section 202 properties that advance housing for the elderly as a platform for living independently and aging in community even as residents may require more assistance with activities of daily living over time.

For more information, see the full funding opportunity announcement here.

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