The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs recently announced that it has awarded $160.1 million in grants to non-profit organizations across the country to support the development of new or redeveloped affordable multifamily rental housing and ongoing project-based rental assistance for low-income seniors.
Tapestry Development Group, which is planning an affordable senior housing development at the Pelzer Heritage Commission (PHC) Upper Mill property in Pelzer, has been awarded $10,022,475 from the HUD funding. The planned development will include a total of 80 units, with 60 of those being Project Rental Assistance Contracts (PRAC) Units.
The HUD funding supports the creation and rehabilitation of affordable multifamily rental housing and project-based rental assistance to help provide independent living options for low-income seniors.
“HUD is committed to addressing homelessness with urgency and ensuring everyone, including our nation’s seniors, has access to quality affordable housing,” said HUD Secretary Marcia L. Fudge. “The funding announced today shows the Biden-Harris Administration is investing in Americans at every stage in life, working tirelessly to do everything we can to make sure older adults have the resources they need to stay housed and safe, especially as we witness a troubling rise in homelessness among seniors.”
According to HUD, the grants support the Biden-Harris Administration’s commitment to one of the nation’s most vulnerable populations and are offered under HUD’s Section 202 Supportive Housing for the Elderly program.
Funds will help to facilitate the construction and operation of 1,262 new deeply rent-assisted units for low- and very low-income seniors. Several grantees will create mixed-income communities, building 526 additional affordable and market-rate units as part of these funded projects for a total…