AIMCO Capital Wins 15 National Grants From HUD

AIMCO Capital Wins 15 National Grants From HUD
Grants Will Be Used to Help Elderly and Disabled Apartment Residents Obtain
Needed Services 


DENVER, Nov. 9  /PRNewswire-FirstCall/ -- Fifteen affordable apartment
communities operated by AIMCO Capital will be able to hire a person to
coordinate services for elderly residents and persons with disabilities under
grants awarded by the U.S. Department of Housing and Urban Development (HUD).

AIMCO Capital, a subsidiary of Apartment Investment and Management Company
(AIMCO), is the largest publicly traded provider of affordable housing in the
United States, with 453 apartment communities and 55,212 units.

The grants are used by HUD to fund Service Coordinators, whose job it is to
work with elderly and disabled persons living in federally-assisted multi-
family housing communities.  Service Coordinators arrange for the delivery of
services such as assistance with eating, dressing, bathing, grooming and home
management, all designed to allow residents to live independently for as long
as possible.  For many frail older persons and those with disabilities,
independent living with assistance is a preferable, lower cost housing
alternative to institutionalization.

"AIMCO is committed to providing high-quality affordable housing, and Service
Coordinators are one important way to help improve the quality of life for many
of our older and disabled residents," said David Robertson, president of AIMCO
Capital.

"We are pleased that HUD has enabled us to provide this assistance at 15 of our
communities."

(See full grantee award listing below)

AIMCO is a real estate investment trust headquartered in Denver, Colorado,
owning and operating a geographically diversified portfolio of apartment
communities through 21 regional operating centers.  AIMCO, through its
subsidiaries, operates nearly 1,550 properties, including approximately 272,000
apartment units, and serves approximately one million residents each year. 
AIMCO's properties are located in 47 states, the District of Columbia and
Puerto Rico. AIMCO common shares are included in the S&P 500.

                             AIMCO Grant Awardees

  Alliance Towers:             Alliance, Ohio                $182,959

  Anthracite:                  Pittston, Pennsylvania        $180,294

  Baldwin Towers:              Pittsburgh, Pennsylvania      $184,264.88

  Bannock Arms:                Boise, Idaho                  $171,160.48

  Brunswick House:             Brunswick, Maryland           $126,240

  Community Circle II:         Cleveland, Ohio               $185,218

  Friendship Arms:             Hyattsville, Maryland         $191,972

  Gary Manor:                  Gary, Indiana                 $277,926

  Hanover Square:              Baltimore, Maryland           $381,429

  JFK Towers:                  Durham, North Carolina        $178,550

  Mount Clare Overlook:        Baltimore, Maryland           $177,266

  Mulberry:                    Scranton, Pennsylvania        $344,872

  Palm Springs Senior:         Palm Springs, California      $191,311

  Pennsylvania House:          Tyrone, Pennsylvania          $175,309.32

  Tamarac Pines I Apartments:  Woodlands, Texas              $170,185


DATASOURCE: Apartment Investment and Management Company



CONTACT:  Judy Stowell of Apartment Investment and Management Company,

[phone]

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