The Affordable Senior Housing Shortage
Jul 12, 2022
Alabama - Gulf Coast
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A nationwide shortage of affordable senior housing exists that presents a challenge to meet the needs of older adults with very low incomes.
According to the National Council on Aging, more than 25 million Americans aged 60-plus are living at or below 250% of the federal poverty level (FPL) of $29,425 per year per single person. A 2016 Bipartisan Policy Center report noted, “The current supply of housing that is affordable to the nation’s lowest-income seniors is woefully inadequate. As more low-income Americans enter the senior ranks, this supply shortage — currently measured in millions of units — will become even more acute.”
Since 1991, AHEPA Affordable Housing Management Company (AMC) has been a committed provider of safe, dignified affordable independent senior living and affordable assisted living communities for our nation’s vulnerable elderly and disabled population. A mission-driven organization, AMC has developed and manages 91 affordable independent senior living communities in 20 states that are administered by the U.S. Department of Housing and Urban Development’s 202 program.
In Mobile, and in the surrounding area, 13 AHEPA Senior Apartments communities offer very low-income seniors over the age of 62 residential apartment-home living with voluntary supportive services they may need to continue to live independently as they age. The services may include meal services, case management, transportation assistance, public benefits programs enrollment assistance, and fitness and wellness programs, among others. All these services can be viewed as health care intervention at a reduced cost as compared long-term care services. Preventing nursing home care, emergency room visits, or hospitalizations can lead to savings to Medicare and Medicaid programs. Furthermore, our residents’ health and safety throughout the pandemic has been our priority. Our participation in the CDC’s Pharmacy Partnership for Long-term Care Program ensured our residents would have priority access to the Covid-19 vaccine.
The announcement in January by HUD that it will make $150 million available to support the development of new affordable multifamily rental housing through grants administered by the HUD 202 program is an important step toward addressing the affordable housing shortage and well-being for very low-income seniors. However, it is only a step and many more need to be taken. With this opportunity to grow our mission, AMC pledges to be there for our nation’s vulnerable seniors as we have been for Mobile’s for over three decades.
This article was submitted by AHEPA Affordable Housing management Company President and CEO Steve Beck. For more information, please visit www.ahepamgmt.com.
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