On September 22, HUD announced awards for new Section 202 Supportive Housing for the Elderly developments. The $143 million in awards will fund the construction and operation of 1,484 new deeply rent-assisted units for low- and very low-income older adults, plus an additional 701 affordable and market-rate units as part of these overall developments.

“These awards support the Biden-Harris Administration’s commitment to increase housing stability among the nation’s most vulnerable populations, including the very low-income seniors these grants will ultimately help,” said Lopa Kolluri, the Principal Deputy Assistant Secretary in HUD’s Office of Housing.

LeadingAge’s top housing policy priority is to expand the supply of affordable senior housing. HUD’s Section 202 program provides affordable housing to older adults 62+ with income below 50% of the area median (“very low income”); the average annual income for a Section 202 household is about $14,000. Section 202 residents pay 30% of their household income for rent, after income adjustments and exclusions. Only nonprofits are eligible to participate in the Section 202 program, which emphasizes connection to services, supports, and aging in community.

LeadingAge congratulates all awardees, including many LeadingAge members who work tirelessly to serve older adults in their communities.

View HUD’s announcement here.