80-unit Bellwood Senior Apartments to offer independent living for low-income seniors
Evergreen Real Estate Group, a leader in the development, construction and management of both affordable and market-rate multifamily properties, has announced the start of construction on Bellwood Senior Apartments, an 80-unit affordable rental community at 542 25th Ave. in Bellwood, Ill., a western suburb of Chicago. Evergreen joined Sen. Kimberly A. Lightford (D-4th), Rep. Will Guzzardi (D-39th), Bellwood Mayor Andre F. Harvey and officials from the Illinois Housing Development Authority (IHDA), Bank of America, Cook County Board, and IFF at a groundbreaking ceremony on June 23.
The $30 million project will replace a former Walgreens with a four-story, 73,228-square-foot residential building. Professionally operated by Evergreen’s in-house management team, many of whom have previously worked in social services and the nonprofit sector, Bellwood Senior Apartments will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors age 62 or older, with incomes at or below 60% of the Area Median Income. Evergreen will begin accepting applications for the apartments in spring 2023, with completion expected by mid-2023.
“Bellwood Senior Apartments will bring much-needed affordable senior housing to an area where it is greatly needed,” said David Block, director of development for Evergreen Real Estate Group. “It has been a pleasure to work with Mayor Harvey and other village officials who share in our vision for this project, which replaces vacant retail space with a vibrant residential community that will serve low-income seniors for many years to come.”
“We’ve been working with Peter Tsiolis, our director of economic development, on this project since 2020, and while we knew it would be difficult to bring it to fruition during the pandemic, we all agreed our growing senior population in the Village of Bellwood really needed this new housing,” said Mayor Harvey. “My administration and I were thrilled to partner with Evergreen, Cook County and the Illinois Housing Development Authority to bring a transformative senior living community to the heart of the Bellwood. The aesthetic impact it will have will redefine the architectural landscape of the village and further accelerate the ongoing robust economic development of 25th Avenue. We believe the residents who will call Bellwood Senior Apartments home, as well as their families, will be part of something truly special.”
Designed by Weese Langley Weese Architects, the contemporary building features gray and black brick masonry accented with large offset vertical panels, dramatic roof overhangs and bright perforated metal panel screens. Situated on the corner of Washington Boulevard and 25th Avenue, the building faces both streets and features four floors of floor-to-ceiling glass curtain wall that also encloses the resident community activity spaces. The structure also features walk-out balconies with bright orange perforated panel rails. There is a covered entry at Washington and a similar connected entry for the rear parking area.
The apartments will feature full kitchens with appliances, accessible bathrooms, window treatments and intercom entry systems.
Shared amenities include laundry rooms on each level; community rooms on floors one, three and four; a fitness center; and storage rooms. The property also offers a surface parking lot for resident use.
Bellwood Senior Apartments will be close to shops, restaurants and other businesses along 25th Avenue and less than a mile north of the Eisenhower Expressway. The community also will be about a mile from the Melrose Park Metra station, served by the Union Pacific West Line, and close to bus routes that connect to the CTA’s Forest Park Blue Line station.
FH Paschen, with more than 100 years of experience in construction across a diverse portfolio of industry sectors, is the general contractor for the project.
Financial partners for Bellwood Senior Apartments include IHDA as the tax credit issuer (both Low Income Housing Tax Credits and Illinois Affordable Housing Tax Credits) and subordinate funds provider; the Village of Bellwood, which provided TIF incentives and a loan; Bank of America, which is the investor and construction loan lender; Hudson Housing Capital, which syndicated the tax credits; and Cook County, which is providing HOME funds.
About Evergreen Real Estate Group:
Founded in 1999, Chicago-based Evergreen Real Estate Group is a fully integrated multifamily company that develops, acquires and manages affordable and market-rate multifamily apartments for both seniors and families across 10 states. Evergreen specializes in thoughtful, creative residential development solutions — from adaptive reuse of historic buildings to new development in cities and towns facing a shortage of affordable housing. The firm is led by a passionate, cross-disciplinary team of developers, architects, urban planners and attorneys who have come together to create high-quality apartment communities, often in collaboration with local municipalities and financial partners who share its vision of investing not just in real estate, but also the people who call our communities home. Evergreen currently owns and manages 10,000 units of multifamily housing. For more information, visit www.evergreenreg.com.
