SHA is planning a major rehabilitation of its Annex senior building, funded with a HUD‑insured loan under the 223(f) program, with estimated total rehab hard/soft costs of $5–10 million and maximum loan proceeds of about $16 million. The scope includes rebuilding both stairwells (with the east stair as a standalone first project), resurfacing and painting all interior hallways, lobby renovation, new corridor lighting, extensive unit upgrades (open kitchen walls, new cabinets, appliances, bathroom renovations, ADA baths), full electrical system replacement, new emergency call system and generator, upgraded trash/compactor areas, landscaping and exterior lighting, new interior doors, new east corridor HVAC, and flooring replacement. SHA is currently hiring a building envelope consultant, a cost estimator, and S.Ly Architecture is finalizing stair plans for an IFB in 2–3 weeks, to be bid separately ahead of the broader rehab.The May 19, 2026 CFP memo indicates S.Ly is working through the PCA and scope prioritization, and SHA is exploring HUD‑insured loan sizing based on forthcoming bids. This positions the Annex rehab package as a near‑term opportunity for GC and specialty subcontractors on the stairwell bid, and for engineering, envelope, MEP, life safety, and cost‑estimating firms to support the larger 223(f) rehab transaction and related design packages.

The stair project will be bid as a separate construction contract prior to the rest of the rehab. SHA currently has $3.75M in Annex reserves and is targeting a 35‑year HUD‑insured loan at approximately 5.3% interest, plus 0.25% MIP.