In the News

Best Practices: RAD Program Recapitalizes Public Housing near St. Petersburg, Florida

Source: U.S. Department of Housing and Urban Development (HUD) User/PDR Edge

The Landings at Cross Bayou is a 184-unit Rental Assistance Demonstration (RAD) program redevelopment of public housing that had become functionally obsolete and deteriorating as a result of inadequate funding. Located near St. Petersburg, Florida, this redevelopment of a Pinellas County Housing Authority property offers an instructive example of how public-private partnerships can effectively leverage the funding opportunities provided by the RAD program for low-income housing redevelopment. More...


 

The State of Senior Renters

Source: Enterprise Community Partners, Inc. Make Room™

The number of senior households paying unaffordable rent has outpaced the growth in the overall senior population during the past decade. Between 2005 and 2014, the overall population of seniors age 65 and over increased by 25 percent nationwide, from 22.5 million to 28.1 million, while the number of seniors paying more than half of their household income (before taxes) toward rent and utilities shot up by 34 percent, from 1.4 million to 1.8 million. According to Make Room’s analysis, 43 percent of seniors who pay more than half their income on rent have no income except for Social Security. Meanwhile, there will be no Social Security payment increase in 2016 for only the third year since the federal government instated cost-of-living adjustments in 1975. More...


 

FHA to Cut Insurance Rates on MultiFamily Mortgages

Source: The U.S. Department of Housing and Urban Development Press Release

In an effort to help preserve and increase the amount of affordable, quality rental housing across the country, the Federal Housing Administration (FHA) In an effort to help preserve and increase the amount of affordable, quality rental housing across the country, the Federal Housing Administration (FHA) announced a multifamily insurance rate reduction designed to encourage capital financing of affordable and energy-efficient apartments. The rate reductions announced today will take effect on April 1, 2016, and will directly impact FHA’s Multifamily Housing Programs and properties housing low- and moderate-income families and/or developments installing energy-efficient systems or building within federal energy guidelines. Read FHA’s new Multifamily Insurance Rates. More...


 

HUD Offers Approximately $15 Million in Grants to Test a New Approach to Help Low-Income Seniors Age in Place

Source: The U.S. Department of Housing and Urban Development Press Release

The U.S. Department of Housing and Urban Development (HUD) announced it is making approximately $15 million available to test a promising housing and services model for low-income seniors to age in their own homes and delay or avoid the need for nursing home care. Read HUD’s Notice of Funding Availability (NOFA). HUD’s Supportive Services Demonstration for Elderly Households in HUD-Assisted Multifamily Housing will offer three-year grants to eligible owners of HUD-assisted senior housing developments to cover the cost of a full-time Enhanced Service Coordinator and a part-time Wellness Nurse. The purpose of the Demonstration is to test the effectiveness of this enhanced supportive services model for elderly households and to evaluate the value of enhanced service coordination paired with affordable housing for seniors. More...


 

 

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