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For a community to qualify as housing for the elderly under the Old Person Act, the key requirement is that 80% of the units must have residents who are 55 years of age or older. This provision is in place to ensure that the majority of the residents are in the older age bracket, fostering a suitable environment for seniors.

This focus on a specific percentage helps to establish a community that can cater to the needs and interests of older adults, ensuring that social activities and community resources are tailored toward them. The age of 55 is a widely accepted benchmark within various housing laws related to seniors, especially in creating inclusive and supportive living environments.

Other options suggest different age requirements or a lack of requirement altogether, which does not align with the standard set forth in the Old Person Act for communities specifically designed for elderly residents. Hence, the option stating that 80% of the units must have residents who are 55 or older is the accurate standard for such communities.