The Feb. 15 webinar “” focused on challenges and strategies for addressing resident needs while keeping costs down in the affordable seniors housing segment. This endeavor is no easy task in an environment where labor and staffing prices, construction costs and interest rates make calculations unwieldy. Three expert panelists discussed helpful programs, essential tax credits and successful case studies to light the way to affordable seniors housing.
“We know that there’s a wave of 73 million baby boomers reaching an age where they will need specialized care and housing,” explains Victoria O’Brien, head of LIHTC equity acquisitions at KeyBank Community Development Corporation. “Not only is that wave upon us, but our industry is not ready. There’s not enough seniors housing to serve current and future needs. Scarcity is driving rents higher, pricing many seniors out of the market. Without more housing for low-income seniors, the number of older people who may become homeless could reach over 100,000 people by 2030. That’s over three times the 2019 figure — a critical problem.”
Tune in to hear panelists discuss these topics and more:
- Financing affordable seniors housing projects:
- Low-Income Housing Tax Credit (LIHTC) projects
- The Medicaid waiver program
- Variations in programs by state, especially for Qualified Allocation Plans
- Holistic approaches to applying for federal and state programs
- Critical needs and initiatives for housing, plus the factors influencing these needs
- Successful case studies
- Considerations in developing seniors housing — locations, workforce availability, connecting seniors with the surrounding community
to learn more about the future of affordable seniors housing.
Panelists:
- Victoria O’Brien, head of LIHTC equity acquisitions at KeyBank Community Development Corporation (moderator)
- Joe Mulligan, managing director at Cain Brothers
- Diana DiPreta, SVP — Development Finance at Beacon Communities
Webinar sponsor: KeyBank Real Estate Capital is a leading provider of commercial real estate financing solutions on both a corporate and project basis. The group provides interim and construction financing, permanent mortgages, commercial real estate loan servicing, investment banking and cash management services for all types of income-producing commercial real estate. As a Fannie Mae Delegated Underwriter and Servicer, Freddie Mac Program Plus Seller/Servicer and FHA approved mortgagee, KeyBank Real Estate Capital offers a variety of agency financing solutions for multifamily properties, including affordable housing, seniors housing and student housing. KeyBank Real Estate Capital is also one of the nation’s largest and highest-rated commercial mortgage servicers.
For more information on the seniors housing industry, subscribe to the weekly Seniors Housing Business newsletter or the bi-monthly magazine. To listen to past Seniors Housing webinars, click here.