Chicago-based Evergreen Real Estate Group 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, Indiana.
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., about 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, Illinois-based Gardant Management Solutions, the 10th-largest provider of assisted living in the country, will operate the community.
Upon completion, Green Oaks of Goshen will offer 49 studio and 71 one-bedroom apartments, all of which will be reserved for seniors 62 or older with incomes at or below 80 percent of the Area Median Income. 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.
The Indiana Housing and Community Development Authority authorized 4 percent 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.
