$30 million Goshen assisted living project ready to to start – Goshen News

GOSHEN — A Chicago property development company will soon begin building a four-story, 120-unit assisted living building on the city’s north side.

Evergreen Real Estate Group said it has secured financing and started preliminary site work for Green Oaks of Goshen, a community that will host low-income seniors. The company’s Evergreen Construction Co. is the general contractor. The ground-breaking ceremony is set for Oct. 28 at 282 Johnston St. and the company plans to have the building completed in early 2023.

The $30 million will be built on a vacant 3-acre site near the Salvation Army building

“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.”

Green Oaks of Goshen be a state-licensed residential care facility, according to a company news release. The building will house 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. The company said a financial assistance program will be available for those who qualify.

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 company said the Indiana Housing and Community Development Authority authorized 4% Low Income Housing Tax Credits in support of the project. The city of Goshen issued tax-exempt bonds that were sold by PiperSandler, providing debt financing. Affordable Housing Partners invested in the project, providing Low Income Housing Tax Credit equity.

Roger Schneider can be reached at rschneider@goshennews.com or at 574-533-2151, ext. 240309. Follow him on Twitter at @rschneider_TGN.