Evergreen Real Estate Group to Develop 120-Unit Assisted Living Community for Low-Income Seniors in Goshen, Ind.November 5, 2021
Chicago-based Evergreen Real Estate Group today announced it has secured financing and started preliminary site work for Green Oaks of Goshen, a four-story, 120-unit assisted living community for low-income seniors in Goshen, Ind. Evergreen Construction Company, a division of Evergreen Real Estate Group, is serving as general contractor on the development and plans to officially break ground on Oct. 28. Green Oaks of Goshen will welcome its first residents in early 2023.
Located at 282 Johnston St., approximately 1 mile north of downtown Goshen, the $30 million project will replace a vacant 3-acre lot on the city’s north side, near an existing Salvation Army building and retail along Main Street. The community will be licensed and regulated as a residential care facility by the Indiana Department of Health and approved to be an assisted living Medicaid-waiver provider by the Indiana Family and Social Services Administration. Bourbonnais, Ill.-based Gardant Management Solutions, the 10th-largest provider of assisted living in the country, will operate the community.
“Green Oaks of Goshen aligns with the city’s goal of creating modern, affordable housing for area seniors, as well as our own mission of creating vibrant residential communities for every income level and stage of life,” said Steve Rappin, CEO of Evergreen Real Estate Group. “Our partnership with Gardant Management Solutions will ensure residents receive personalized care from a reputable provider, making it possible for them to safely age in place while staying close to where many of them currently live.”
Upon completion, Green Oaks of Goshen will offer 49 studio and 71 one-bedroom apartments, all of which will be reserved for seniors age 62 or older, with incomes at or below 80% of the Area Median Income (AMI). A financial assistance program will be available for those who qualify.
Each residence will feature a kitchen with an electric range, refrigerator and microwave, as well as a full private bath with grab bars and a shower. Apartments also will include window treatments, individual heating and air conditioning, and an emergency alert call system.
On-site amenities at Green Oaks of Goshen will include a community room with kitchen, media and theater room, computer room, meeting room, fitness center, beauty salon, library, community garden and outdoor area featuring a pond, courtyard and pavilion. There will be 54 parking spaces for residents and visitors.
The community’s dining room will serve residents three meals a day, plus a rotating assortment of snacks. Certified staff will deliver 24-hour care and assist residents with bathing, grooming, dressing, managing medications and shopping. Other services include laundry, weekly housekeeping and transportation to off-site healthcare providers and other destinations throughout Goshen.
“Our focus is on providing residents with the love, compassion and dignity they deserve in addition to the personal assistance they need,” said Rod Burkett, CEO of Gardant Management Solutions. “The goal of the Gardant team is to help each resident achieve and maintain as much independence as possible for as long as possible.”
Andre Pintauro, president of Evergreen Construction Company, added: “Our construction team has deep experience with ground-up developments like this one, which allow us to integrate key design and safety features that enhance resident wellness and overall quality of life. Green Oaks of Goshen will be a beautiful addition to the broader community – one that’s built to serve residents today and for many years to come.”
The Indiana Housing and Community Development Authority (IHCDA) authorized 4% Low Income Housing Tax Credits (LIHTC) in support of the project. The city of Goshen issued tax-exempt bonds that were sold by PiperSandler, providing debt financing. Affordable Housing Partners (AHP) invested in the project, providing Low Income Housing Tax Credit (LIHTC) equity.
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 nine 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 9,500 units of multifamily housing. For more information, visit www.evergreenreg.com.