Retirement Housing Foundation Acquires Mason City Affordable Housing Community
Retirement Housing Foundation (RHF) has acquired Regency Apartments, an affordable housing community for older adults in Mason City, Iowa, and the organization’s seventh community in the state.
“I am pleased to welcome Regency Apartments and its residents to the RHF family of communities,” said Stuart Hartman, president and CEO. “Preserving affordable housing is a priority for RHF. There is a large portfolio of affordable senior housing communities in this country that is in danger of being converted into market rate housing and we cannot allow that to happen.”
Regency Apartments, a three-story, 40-unit community, has been in operation since 1981. Community amenities include laundry facilities and a community room for activities. Regency Apartments is subsidized by the U.S. Department of Housing Urban Development, where residents pay approximately 30 percent of their adjusted income in rent. Regency Apartments also is located adjacent to Pilgrim Place, another RHF affordable senior housing community.
This acquisition is an example of RHF’s ongoing efforts to preserve affordable housing throughout the country. With this purchase, Regency Apartments will remain an affordable housing community for limited income seniors for decades to come.
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