Evergreen Completes $13.5M Affordable Housing Redevelopment

By Published On: January 23, 2017Categories: Commercial Real Estate News, Residential Real Estate News, TJ Client NewsComments Off on Evergreen Completes $13.5M Affordable Housing Redevelopment

As part of a broader initiative to transform downtown Mundelein into a walkable mixed-use district, Taylor Johnson client Evergreen Real Estate Group recently completed Fairhaven Crossing, a 40-unit affordable rental community in the heart of the north suburb. The $13.5 million project involved converting and expanding a vacant 1½-story brick building into a three-story affordable housing development for households earning 60 percent or less of the area median income (AMI). In addition to offering apartments for individuals with disabilities, Fairhaven Crossing also includes large three-bedroom residences geared for families. The community will welcome its first residents later this month. Read more about Evergreen’s transformation of the site on REJournals.com.

Evergreen secured $5.6 million in low-income housing tax credits to help transform a vacant structure in downtown Mundelein into Fairhaven Crossing, a 40-unit affordable housing community.

Evergreen secured $5.6 million in low-income housing tax credits to help transform a vacant structure in downtown Mundelein into Fairhaven Crossing, a 40-unit affordable housing community.

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