India Home Enriched Housing for Seniors
Enriched Housing for Seniors
Investment Summary
- Total Raise: $1,000,000
- Investment Risk Rating: Gold
- Investment Ceiling Rate: 7% per annum
- Investment Term: 3 Years
- Investment Closes: October 28, 2022
Who Can Participate
- Everyone can donate.
- Only Accredited Investors can lend/invest. Minimum $100.
Who They Are: India Home
Dr. Vasundhara Kalasapudi envisioned India Home as an antidote to the loneliness and isolation experienced by South Asian elders. In 2008, India Home established the first senior center catering to South Asian values and culture at the Services Now for Adult Persons (SNAP) of Eastern Queens. This community center was a response to the unique and urgent needs of a fast-growing community of South Asian seniors in Queens.
India Home offers a welcoming space where seniors take yoga classes and workshops, and enjoy nutritious, culturally appropriate congregate meals. They celebrate Diwali and other festivals beloved to South Asians. The programs are designed to foster community and friendship, stimulate mental and physical fitness, empower the elders through knowledge and encourage them to come together to creatively solve problems or advocate for their rights.
In a few short years, India Home has become the standard bearer for other South Asian groups seeking to replicate their model of community service.
Use of Proceeds & Repayment
The loan proceeds will be used to purchase the property at 87-86 153rd Street, Jamaica, NY. This property will be torn down and rebuilt to be a supportive service center and senior housing facility.
While awaiting approval from the NY Department of Health, this 2 family home with 4 bedrooms and 2 bathrooms will be utilized as a co-living residence for seniors. It is anticipated that the property will house between 4 to 6 seniors with similar experiences, cultures, and diets who would live together in a “family” unit system, where they can build meaningful social connections and share household responsibilities.
The loan will be repaid through a permanent construction loan after India Home receives the approval for licensing of the healthcare facility.
Jamaica, Queens Property
For additional details about the property, please take a look at the realtor.com listing.
Why Support this Program
In New York City, South Asian immigrants are among the fastest growing population and one of the most overlooked groups of elderly.
Many elderlies are now migrating to the US in large numbers because of the Family Reunification Act, and experience unique challenges being recent immigrants.
India Home is working on establishing the first ever co-living home for South Asian seniors in NYC. This is an important step in combatting the exacerbated social isolation that our older adults have faced during the pandemic. They hope that this pilot project will be a catalyst in bringing about many more culturally competent co-living homes, improving the senior housing landscape for immigrant older adults across Queens and beyond.
Testimonials from India Home Seniors
Mahmuda Khatun & Eunus Khan have been a part of India Home since 2017, when they joined the Desi Senior Center in Jamaica. Mr. Khan enjoys the yoga class for exercise, English class and the creative writing classes. Mrs. Khatun enjoys the social aspect India Home provided even during the pandemic. She enjoys different lectures, but the most important thing for her is that she has made friends to talk to. Mr. Khan & Mrs. Khatun are extremely grateful for the case management India Home has offered, through which they got assistance they needed.
“THEY HAVE GIVEN ALL THEIR LIFE TO THEIR CHILDREN AND THE COMMUNITY…IT’S TIME TO GIVE BACK.”
Dr. Vasundhara Kalasapudi, Executive Director
