Annual Report Adds Up Senior Housing Development

The Washington State Housing Finance Commission's 2011 Annual Report details its ongoing and decades-long role in providing critical financial resources to the ever growing segment of senior living, while demographic profiles from across the country continue to tell the story of currently unmet affordable housing needs and the dearth of an environment supporting their development in adequate numbers to serve future needs. 

One hundred twenty new units for the elderly were financed in 2011 through the Washington State Housing Finance Commission's Capital Projects Division, along with the preservation or development of 40 new senior units through their Nonprofit Housing Program.  Since 1983, over 5900 elderly units have been developed under the 9% Tax Credit program and more than 10,000 financed or refinanced through tax exempt bonds.  These numbers include housing in both multifamily independent-living and assisted living projects.