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HUD’s Section 202 Capital Advance program helps expand the supply of affordable housing with supportive services for the elderly. Facing elimination within the 2011 President’s Budget, the goal is to inform and educate the reader about both the strengths and weaknesses of the program in an effort to not only continue the program, but improve upon it.
An effort is underway to contact Legislators, inform them of the issues, and encourage them to retain this valuable program.
St. Giles Manor II, Pinellas Park, FL (Diocese of Southwest Florida)
The Sponsor entered into a long-term lease for $1 on a site owned by the City of Pinellas Park and valued at over $1 million. The HUD Section 202 project consists of two buildings (one four and one six-story) which are connected via a walkway to a 3,500 square foot senior center. The Center is being constructed in conjunction with the Section 202 project and will be operated by the City. This unique partnership of the City and HUD will provide residents with a host of support services not typically offered.
Location: Pinellas Park, Florida
Sponsor: Diocese of Southwest FL
Capital Advance: $12,494,600
Rent Subsidies: $744,900
HUD 811 Units: 88
Opened: 2012
JPH & Associates launches New Website February 2010! www.hudseniorhousing.org