(Getty, iStock/Illustration by Alexis Manrodt for The Real Deal) The unexpected announcement by HPD in January of this year that it was rescinding the term sheet for the Privately Financed Affordable Senior Housing Program (the “PFASH Term Sheet”), as of June 30, 2021, less than two years after its release, left many developers scrambling to
![](https://www.seidenschein.com/wp-content/uploads/2021/03/1200-Developers-have-final-shot-at-soon-to-be-cancelled-senior-housing-program-705x439-1-700x350.jpg)