If you would like more information on any of the stories, please contact Chris Ragon, Director of Communications for RHF, at email@example.com.
Final HUD 202 Community in Houston Breaks Ground
(Pictured from left to right: Deacon Donny Carter – Fallbrook Baptist Church, Dan Cook – Cook Construction, Michael Readinger – CHHSM, Anders Plett – RHF, Paula Norman – Cornerstone Gardens Resident, Dr. Laverne Joseph – RHF, Laura Jaramillo – Wells Fargo, Russell Brandes – HUD, George Linial – LeadingAge Texas)
RHF’s Sagetree Terrace, the last new construction project in Houston- funded by the HUD 202 program, broke ground on Wednesday, March 2nd with a ceremony and celebration held on the project site.
Sagetree Terrace will be a HUD 202 and Tax Credit community for older adults with 64 units. Sixty of the units will be funded with a HUD 202 Capital Advance, with additional funding from Tax Exempt Bonds and 4% Low Income Housing Tax Credits. Individual apartments will consist of a full kitchen, living/dining area, bedroom, and full bath. Energy Star appliances will be used wherever possible throughout the apartment. Shared space will include a community room, an exercise room, a computer room, a library, an arts and crafts room, and a central laundry room. Sagetree Terrace will be RHF’s 16th community in Texas and its fourth in Houston. This community has been financed through a partnership with The Department of Housing and Urban Development, Wells Fargo Bank, Harris County Housing Finance Corporation, Texas Department of Housing and Community Affairs, and the Angelus Trust.
Affordable Senior Apartment Community Opens in Charlotte
One of the Last Construction Projects Funded by the HUD 202
Program Celebrates with a Dedication Ceremony
On September 23 Barringer Gardens, an affordable apartment community for low and fixed income seniors, celebrated its opening with a dedication and ribbon cutting ceremony attended by local officials and civic leaders. This community has 47 one-bedroom units and features a community room with a party kitchen, a covered patio area with tables and chairs for outdoor entertaining and barbecues, an exercise room, a library, and an arts and crafts room.
Barringer Gardens is sponsored by Retirement Housing Foundation (RHF) and is this organization’s first community in North Carolina. This community was funded by a $7.2 million capital grant for construction and a $162,900 rental assistance contract for operation from the Department of Housing and Urban Development (HUD) and is one of the last construction projects to come from the HUD 202 program. The HUD 202 program provides subsidized housing for low and fixed income seniors. Construction of new subsidized units has not been funded since the 2012 Federal budget, and it appears that there are no plans to reinstate the program in the foreseeable future.
Charlotte recently reported a 14% poverty rate among its senior population, making the fact that Barringer Gardens’ residents pay just 30% of their adjusted monthly income for rent especially significant to the community. Income limitations (determined by the Department of Housing and Urban Development) will be approximately $23,550 for one person and $26,900 for two persons.
Henry Cisneros and Area Officials Attend Groundbreaking Ceremony for San Antonio’s Newest Affordable Senior Apartment Community
( Pictured from left to right: Anders Plett, RHF’s VP of Acquisitions and Project Development, George Linial, President and CEO of LeadingAge Texas, Councilwoman Shirley Gonzales, San Antonio City Council, 5th District, Rev. Dr. Laverne Joseph, President and CEO of RHF, and Henry Cisneros, Executive Chairman of City View and former Secretary of the U.S. Department of Housing and Urban Development)
Henry Cisneros, Executive Chairman of City View and former Secretary of the U.S. Department of Housing and Urban Development, and other state and local officials helped break ground on Darson Marie Terrace, San Antonio’s newest affordable senior apartment community, at a groundbreaking ceremony on Wednesday, August 19th. Darson Marie Terrace will be a HUD 202 and Tax Credit community for older adults with 56 one‐bedroom units and a two‐bedroom manager’s unit. All units will feature a full kitchen and living room and a bathroom with built‐in safety features. The shared areas of this community will include a lobby with a comfortable seating area, a community room with a kitchen, an exercise room, a computer room, a library, an arts and crafts room, and a central laundry room. Darson Marie Terrace will be RHF’s 14th community in Texas and its third in San Antonio. This community has been financed through a partnership with Wells Fargo Bank, The Department of Housing and Urban Development, Bexar County, RHF Foundation, Inc. and Angelus Trust.