167(j)3(b)(3), the gross rental income from a building is gross rental income from a dwelling unit only if the rental income is attributable to, or ordinarily associated with, using the unit as a living accommodation
owns, leases, manages and operates senior living communities which offer independent living apartments, assisted living accommodations
and skilled nursing services in 153 senior living communities with over 17,000 living units, located in 28 states.
AFVW provided four levels of living accommodations
and service: (1) independent living; (2) assisted living; (3) special care; and (4) skilled nursing care.
However, despite the fact that assisted living accommodations
house one-fourth of the Americans who live in housing for senior citizens, very little has been attempted in Manhattan for a number of reasons, including scarcity of sites, difficult building codes and high construction costs.
At least 80% of the gross rental income received by the operator is attributable to rental income from the use of the units by the residents as living accommodations
A number of the Company's employees have also been impacted by the hurricane and the Company has assisted in relocating them to temporary shelters or living accommodations
with family and friends.
The downtown area currently features a new state-of-the-art waterfront library, hundreds of recreational programs, cultural organizations, centers for senior citizens, a museum and planetarium, a newly restored performing arts center, restaurants, gracious living accommodations
, historic sites and a number of excellent hospitals," he said.