NYHC is advocating for a NEW Statewide Senior Housing Affordable Housing Program. In collaboration with many senior and affordable housing organizations, NYHC is seeking $250 million over 5 years to fund 500 new senior housing units annually. Demand for senior housing is growing:
- By 2030, NYC will see a 47% increase in senior population.
- The number of senior renters nationally is expected to more than double, from 5.8 million in 2010, to 12.2 million in 2030.
- A recent survey from LiveOn NY estimates 200,000 NYC seniors are waiting on Section 202 Housing for the Elderly wait lists for an average of 7 years!
With an historic investment in affordable housing proposed by Governor Cuomo in his Executive Budget, now is the time to create a new senior housing program.
A Statewide Senior Affordable Housing Program can be funded as a carve out of the $1.9 billion unspecified “housing program’ proposed in Governor Cuomo’s Executive Budget as part of a 5-year housing plan. While the plan was initially expected to be released this month, details may not be released until the spring.
NYHC urges State Legislators to include a Statewide Senior Affordable Housing Program in the enacted budget to guarantee that low-income seniors will be included in a new initiative to address housing affordability. Download the new Senior Housing Affordable Housing Program 2-pager here and share it with your State legislators.
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