Northern Virginia Senior Housing has ‘disconnecting’ supply request request
The report noted that the province currently has around 3,500 affordable residential units for seniors. About 85% of them are private ownership and managed, while the rest is managed by the Fairfax County Redevelopment and Housing Authority (FCRHA).
The situation is ready to worsen in the light of the proposed cuts of President Donald Trump at the US Department of Housing and Urban Development (Hud). These cutbacks include the elimination of the programs for the Community Development Block Grant and Home Investment Partnerships programs, as well as dozens of billions of dollars in rental aid at national level – including funds that are specifically aimed at seniors.
Tom Fleetwood, director of the FCRHA, shared one presentation With the Fairfax County Board of Supervisors and tells them that his organization is considering increasing the housing options for seniors with a low income.
These include support for new construction projects aimed at residents at the bottom of the income spectrum, together with “additional resources” that would keep them less stretched due to housing costs.
County Supervisor Dalia Palchik, chairman of the housing committee of the board, said: “There is only so much that we do through official channels.” The province has around 210 affordable units that are designated for seniors in its development program, but that may not be sufficient as the senior population grows and the average age rises – comparable to trends in the rest of the US
FFXNow noted that at the end of last month, a senior residential complex in Arlington, Virginia, announced his plans to abolish his assisted living activities. The outlet also reported earlier that these 270 assisted living units will be converted into units for independent life.
In March a report of the Urban Institute was bone in the assessment of the landscape of the national housing market and said it is that “Failure of older adults.”
The report cited report US Census Bureau Data showing that in the last 20 years the number of senior households that “seriously costs tax” has grown from 5.2 million to 11.7 million. This cohort was defined as a household that spends more than half of the income on housing.
Rising mortgage payments, insurance premiums and real estate tax are important factors of this trend. The Urban Institute noted that in all age groups of tenants costs are more often taxed than homeowners, while older seniors (75 and higher) run more risk than younger seniors.
Together with inverted mortgages, potential options for seniors to explore in these situations include deferment programs of real estate tax; Medicaid exemptions issued by the State that can be applied to housing; and the expansion of subsidized housing stock.
