Catholic Health Partners (CHP) has transferred 616 affordable homes to Mercy Housing Southeast’s property portfolio. The transaction was completed Dec. 31.
The communities were established between 1983 and 2004 under the Department of Housing and Urban Development’s Sec. 202 program, which provides housing with supportive services to low-income seniors. In addition, the program subsidizes rents so seniors only have to pay 30 percent of their incomes for housing.
The 15 properties are located in Knoxville, Tenn.; Paducah and Louisville, Ky.; and Cincinnati, Dayton, Tiffin, Rossford, and Oregon, Ohio.
CHP President and CEO Michael D. Connelly noted that his organization’s core competencies are acute and long-term care while Mercy Housing is more experienced in affordable housing. “CHP is proud of our service to affordable housing residents and employees, and we believe this transition to Mercy Housing is a natural progression that will continue to benefit everyone involved,” he said in a statement.
The transaction will not affect the families living in the homes or the employees serving the residents, according to the organizations.
Headquartered in Denver, Mercy Housing has a presence in 43 states and serves more than 137,000 people on any given day. The nonprofit has participated in the development, financing, or operation of more than 40,000 homes.