Hispanic Housing Development Corporation Senior Housing

Mission Statement: The purpose of Hispanic Housing Development Corporation is to stabilize Latino communities by developing, managing, and investing in ventures that increase the availability of affordable housing, promote economic opportunity and enhance the quality of life.

Summary of HHDC Senior Housing Four HUD-202 Communities (62 plus) Five LIHTC Communities (55 and older) 604 Units

Why Senior Housing? -Financial Opportunity – HUD 202 or LIHTC -An aging population on fixed incomes -A need to keep residents in their communities despite gentrification -Zoning/Parking Requirements drive the deal

Parking Requirements: -Affordable Elderly: was 25%, now 33% -Affordable Family: was 100%, now 70%

Example: Building One: 18 parking spaces at 70% parking ratio allowed 25 units Building Two: 19 parking spaces at 70% parking ratio allowed 27 units 19 parking spaces at 33% parking ratio allowed 57 units

Lessons Learned:

-Colorful hallways, neutral apartments -Laminate or Tile floors -Community Room - Front and Center -625 SF Units -9’ ceilings -Open Kitchens Lay-out -Large bedroom closet