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Cooperative Housing for Seniors
In both rural and urban areas, senior citizens are suffering from a lack of
affordable housing with appropriate services. In rural areas, small towns are
suffering because seniors are being forced to leave to find suitable housing.
Co-ops are a practical solution. магазин аксессуаров и бижутерии
Jacob M. Kaplan Fund
The Kaplan Fund, a revolving loan fund within CDF, makes soft loans for pre-development
expenses of co-op housing for low- and moderate-income seniors.
Joe L. Parkin Senior Cooperative Housing Fund
The Parkin Fund is a revolving loan fund which was established through a $350,000
grant from the Retirement Research Foundation to provide pre-development financing
to build rural co-op housing for seniors in the Midwest. The Fund was enhanced
by a $350,000 match from the NCB Development Corporation. This Fund is no longer
providing loans and grants, as it has already accomplished its mission and utilized
its resources. list your property for free
Homestead Fund
The Homestead Fund supports the Homestead Housing Center (HHC), a non-profit
organization which promotes and develops senior co-op housing. HHC provides seed
capital and technical expertise to communities wishing to start senior housing
initiatives in the Midwest.
Sample projects and accomplishments:
- Kaplan Fund provided $104,000 loan to develop seven senior co-op housing projects
in Minnesota, Nebraska, and Michigan.
- Kaplan Fund provided $195,000 in loans to develop the Silver Glen Senior Housing
project near Seattle, Washington, creating 120 senior housing units.
- Parkin Fund provided loans for more than 20 Homestead Housing Center projects,
creating senior co-op housing in rural communities in Iowa, Kansas, Minnesota,
and Wisconsin.
- Kaplan Fund provided first portion of $100,000 loan to Mutual Assisted Senior
Housing project in Manhattan, a prototype for affordable, limited-equity, assisted
living senior housing for urban areas.
- In total, these three funds have provided more than $2.1 million in seed money
for senior co-op housing projects.
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