In The News

Mercy Housing, a national nonprofit affordable housing developer and service provider, has embarked on a mission to create affordable senior housing despite the lack of capital funding for such projects. To accomplish their mission, they have turned to a novel private capital finance structure. By using this uncommon funding approach, as part of their Senior Health and Housing Initiative, they hope to acquire existing buildings and convert them into affordable, service-enriched housing in a fraction of the time it typically takes to complete such projects.

Over the next four decades as the nation’s baby boomers age, more than 48 million people are projected to be added to the ranks of the 65 and older population. What’s even more staggering, the 85 and older population is expected to more than triple from 5.8 million in 2010 to 19 million in 2050 according to the Center for Housing Policy.