Achieving Higher Fair Market Rents for Section 8 Assisted Living Examined at Fall Board
During the NAHB Fall Board of Directors Meeting in Columbus, OH, the NAHB Seniors Housing Council will hold a working group of assisted living builders and developers to examine strategies to increase fair market rents for Section 8 residents of assisted living facilities.
The meeting is scheduled from 8:30-10:30 a.m. Saturday, Oct. 2, at the Hyatt Regency Columbus, Champagne Room.
Recent NAHB policy supports the increase of fair market rents (FMRs) at Section 8 assisted living facilities to help offset the higher construction costs needed to meet Section 8 requirements for these facilities. In discussions with the U.S. Department of Housing and Urban Development (HUD), NAHB has contended that higher FMRs are warranted because, under Section 8, larger common areas are needed to provide specialized services for residents, which add to the cost of building the facility.
NAHB Seniors Housing Council members and NAHB members who build or develop assisted living communities are invited to participate in the working group. For more information, e-mail Leslie Marks, or call her at 800-368-5242 x8235.
Attend the 2005 Seniors Housing Symposium in Metro Washington, D.C. Area
Learn more about the fastest-growing segment of the housing market. Plan to attend Building for Boomers & Beyond: Seniors Housing Symposium 2005, the premier educational and networking event for industry professionals serving the burgeoning 50+ market. For more information, click here.