According to Marilynn Duker, President of Shelter Development, there is a tremendous need for affordable housing for senior citizens. In most areas, including Albemarle County, there is a large and growing population of individuals over the age of 62, many of whose incomes have declined since retirement. Those who own homes are finding them to be increasingly difficult, both physically and financially, to maintain; those who rent, are often living in older, unrenovated buildings which lack amenities and services important to seniors. In either situation, seniors can grow increasingly isolated. "What's needed," says Duker, "are residential communities with features important to the elderly. These features include common spaces that promote activities and socialization, elevators, security, and emergency services--all at reasonable rents. These are exactly what our Park Views offer."

Rents are projected to start at $640 for a one-bedroom unit and $765 for two. "That means qualified seniors can live in a highly desirable and convenient location for about half of what they would pay just across the street at one of the market rate apartment communities on South Pantops.

The financing for the project requires that residents be 62 or older and have incomes at or below 60% of the area's median income, adjusted for family size ($26,760 for one person and $30,600 for two people). Much of the project's financing comes from a tax credit award from the Virginia Housing Development Authority ("VHDA"). VHDA's award to the project was based on several factors including the need for such housing in Albemarle County, the County's enthusiastic backing of the project, Shelter's commitment, reputation and experience, and its partnership with JABA.

Park View at South Pantops will include such amenities as a community room with kitchen, living room, beauty/barber salon, TV lounge, electronically controlled lobby entrance, lending library, computer center, laundry room with convenient lounges, and landscaped patios and other exterior areas. Individual apartment amenities include bathrooms with enhanced safety features, full kitchens, monitored emergency pull cords, smoke alarms and fire sprinklers, mini-blinds on all windows and handicapped accessibility.

When the community opens, a wide range of services will be provided to residents of Park View at South Pantops. These services and programs will enable residents to live at the property independently with the highest levels of dignity and self-esteem for as long as possible. By collaborating with community organizations such as senior centers, hospitals, schools, churches and other organizations, Shelter and JABA will be able to provide a meaningful package of needed services to residents and, at the same time, establish a real sense of community.

About The Shelter Group: Shelter is a privately owned, top ranked national development and property management company. The firm's portfolio contains a broad range of properties, including conventional multi-family real estate, independent and assisted living communities for seniors, and affordable housing for families and the elderly. During its 25-plus years, Shelter has developed nearly $1 billion of real estate and is known for its ability to develop properties that meet the needs of each local market while also meeting investor goals.

The company's property management arm, Shelter Properties, LLC, operates and manages a national portfolio of communities with approximately 20,000 units, making Shelter one of the country's leading property management companies. The managed portfolio is valued at more than $2 billion; a large portion of that portfolio is managed on behalf of third party owners who include large financial institutions, small investors, established not-for-profit organizations, and government agencies.

Shelter, which is headquartered in Baltimore City, Maryland, has Regional Offices in Atlanta and Dallas with additional concentrations of properties in Florida, Tennessee, and North Carolina.

For more information on The Shelter Group, Shelter Properties, and Shelter Development, please visit www.TheShelterGroup.com. For information about Park View at South Pantops, please call 410 962-0595.