Evergreen Real Estate Group celebrated the completion of Green Oaks of Goshen, a four-story, 120-unit assisted-living community for low-income seniors in Goshen, Indiana.
Evergreen Construction Company, a division of Evergreen Real Estate Group, served as general contractor on the project, which recently welcomed its first residents and is currently 50% leased.
Located at 282 Johnston St., approximately a mile north of downtown Goshen, the $30 million project replaces a vacant 3-acre lot on the city’s north side, near an existing Salvation Army building and retail along Main Street.
The state-licensed community is operated by Gardant Management Solutions, a Bourbonnais, Ill.-based firm that manages assisted living properties across the country. Through its construction and now permanent operations positions, the project has created more than 100 jobs and investments in the local community.
Green Oaks of Goshen offers 49 studio and 71 one-bedroom apartments, all of which are reserved for seniors aged 62 or older, with incomes at or below 80% of the area median income (AMI).
Each residence features a kitchen with an electric range and MicroFridge® refrigerator/freezer/microwave all-in-one appliance, as well as a full private bath with grab bars, a raised toilet and wheelchair-friendly, roll-in shower. Apartments also have individually controlled heating and air conditioning and an emergency alert system.
On-site amenities at Green Oaks of Goshen include a community room with kitchen; private dining room; media and theater room; computer room; meeting room; fitness center; salon; library; community garden; and outdoor area featuring a pond, courtyard and pavilion.
Additionally, Gardant’s certified staff delivers around-the-clock service, including assistance with personal hygiene and other daily living activities; medication administration; ongoing health monitoring; housekeeping; three daily meals plus snacks; and transportation to medical appointments and other off-property destinations. Residents also benefit from opportunities to socialize with family, friends and new neighbors as well as participate in regular programs and events.
The Indiana Housing and Community Development Authority (IHCDA) authorized 4% Low Income Housing Tax Credits (LIHTC) in support of the project. In addition, the city of Goshen issued tax exempt bonds that were sold by Piper Sandler, providing debt financing. Affordable Housing Partners (AHP) also invested in the project, providing Low-Income Housing Tax Credit (LIHTC) equity.
Green Oaks of Goshen is Evergreen’s first affordable assisted living development in Indiana, one of two the firm currently is developing in the state. The second is Green Oaks of Valparaiso, a three-story, 120-unit assisted living community for low-income seniors in Valparaiso that is scheduled to open in April 2024.
