BREAKING NEWS: In September 2022, HUD announced up to $174.6mmn in new funding through a NOFO (notice of funding opportunity) to support the development of new affordable multifamily rental homes for low income seniors along with ongoing rental assistance and supportive services. The grants fall under HUD’s Section 202 Supportive Housing for the Elderly program and will be awarded to non-profit organizations across the country.
Mirka Investments have successfully completed 202 Projects and would love to work with Non Profits on rehabbing suitable structures.
Are you a non profit organization with a structure that can be used as a HUD 202? Are you an investor that can help bridge the pre development divide? If so, contact us today. We are experts at rehabbing properties for affordable housing with special expertise in low income senior. We love to partner and share in distributions.
Section 202 grants provide very low income elderly people who are 62 years or older with the opportunity to independently live in an environment that provides support, such as nutrition, transport, education, and health related services. The program requires residents to earn less than 50 percent of AMI (area median income). Contact Mirka today to learn more about development for HUD 202 Program.