In 2008, HUD developed its LEAN process for Section 232 applications. Section 232 is an FHA-Insured loan program that covers the frail elderly. Frail elderly individuals are considered to be those who need supportive services. Housing for the frail elderly includes nursing homes and assisted living. Section 232 may be used to finance the purchase, refinance, new construction or substantial rehabilitation of a project.

HUD requires that market studies for frail elderly projects with HUD guarantees follow a specific format based on the LEAN process. The VSI LEAN-formatted study adheres to the specific guidelines established by the HUD guide. We have produced and presented dozens of studies to HUD offices nationwide.