The meeting was a continuation of a series of meetings that Argentum has held with Federal Housing Commissioner Frank Cassidy on expanding access to capital to support the development of more senior living communities. Commissioner Cassidy has led efforts at HUD to streamline the lending process, including through the creation of “Express Lanes.” Argentum greatly appreciates the significant progress by HUD in recent months and ongoing discussion with HUD and FHA Commissioner Cassidy on expanding senior housing opportunities.
The discussions with HUD are part of Argentum’s Strategic Vision to Increase Access to senior living by expanding capital availability and modernizing federal programs that support development and refinancing of senior living communities.
“America’s aging population will require a dramatic expansion in senior living capacity in the coming years,” said James Balda, President and CEO of Argentum. “Argentum is working directly with senior leaders across the Administration to ensure federal programs evolve to support innovative, affordable senior living solutions that help older adults live with dignity and independence.”
“Our dialogue with HUD is appreciated. We are fortunate to have FHA Commissioner Frank Cassidy, with his deep private sector experience, who understands that if we meet the supply needs of seniors, and right-size care, assisted living communities will save significant federal health care dollars,” said Balda. According to Argentum’s recently released Value of Assisted Living report, the United States will need nearly 900,000 additional assisted living units, requiring an estimated $1 trillion in new investment to meet future demand.
Strengthening Federal Financing Programs
Discussions with HUD focused on practical improvements to federal financing programs that can help accelerate development and improve access to capital for senior living providers.
Argentum and industry participants emphasized opportunities to:
- Streamline processing and reduce closing delays within HUD’s healthcare lending programs
- Expand financing eligibility for independent living communities
- Improve program competitiveness to attract private capital
- Increase efficiency in loan underwriting and approvals
Reducing processing delays and improving consistency across HUD programs remains one of the most significant opportunities to expand access to senior living capital.
Supporting HUD’s Section 232 Express Lane Initiative
Argentum also highlighted industry support for HUD’s Section 232 Express Lane, a streamlined application pathway designed to accelerate financing approvals for qualified refinancing transactions. The Express Lane initiative prioritizes lower-risk transactions and is intended to significantly reduce processing times, allowing capital to flow more efficiently into senior housing communities.
Industry leaders participating in the meeting emphasized that faster approvals and reduced administrative burdens will help providers reinvest in communities and expand access to housing and care for older adults.
Strategic Vision Informed by Industry Leadership
Argentum’s work with HUD builds on recommendations developed through industry collaboration and strategic planning efforts, including work by Argentum leadership groups focused on expanding access to senior living. These efforts are helping shape a renewed strategic vision centered on practical policy solutions that increase affordability and availability of senior living options nationwide.
“Expanding access to senior living requires collaboration between industry leaders and policymakers,” Balda said. “We appreciate HUD’s engagement and commitment to strengthening programs that help more seniors access the housing and care they need.”
About Argentum
Argentum is the leading national association exclusively dedicated to supporting companies operating professionally managed, resident-centered senior living communities and the older adults and families they serve. Since 1990, Argentum has advocated for choice, independence, dignity, and quality of life for all older adults.
Argentum member companies operate senior living communities offering assisted living, independent living, continuing care, and memory care services. Along with its state partners, Argentum’s membership represents approximately 75 percent of the professionally managed communities in the senior living industry—an industry with a national economic impact of nearly $250 billion dollars and more than 1.6 million jobs. For more information visit www.argentum.org
Media Contact
Dan Samson, ARGENTUM | Expanding Senior Living, 1 703-562-1176, [email protected], www.argentum.org
Jeanine Genauer, JPR Group Public Relations, 1 9739800100, [email protected], www.jprgroup.com
SOURCE ARGENTUM | Expanding Senior Living
