HCR Senior Housing Program Request for Proposals and Term Sheet Available Now

New York State Homes and Community Renewal (HCR) has updated its Multifamily Open Window Request for Proposals (RFP) and Notice of Credit and Funds Availability to include a new Senior Housing Program. The goal of the Senior Housing Program is to develop rental housing for New York’s low-income seniors that will allow them to “age in place and live independently in their own homes and communities.” The RFP and Term Sheet is available here, with the Senior Housing Program being specifically addressed on pages 30-34 of the document.

The anticipated funding available for FY 2017-18 is up to $25 million, and the target population of the program is low-income seniors aged 62 and above. Applications will be accepted until 5 p.m. on March 1, 2018, after which time it is anticipated that an RFP for FY 2018-19 will be issued.

Eligible applicants for this funding include not-for-profit corporations or charitable organizations, or wholly owned subsidiaries of such corporations or organizations, or private for-profit developers with experience developing, marketing, owning, and managing housing for low-income seniors.

In addition to a financing application, applicants must provide a plan that “describes the delivery of healthy aging programming such as life skills training, peer support, wellness, and social activities.” The proposed plan may include community-based collaboration and public-private partnerships.

The contact within HCR for further information regarding this program is Leora Jontef, Vice President, Multifamily Finance – New Construction, 212-872-0537, leora.jontef@nyshcr.org.

Contact: Sara Neitzel, sneitzel@leadingageny.org, 518-867-8835