Low-income seniors will soon have access to an affordable living option in Valparaiso.
Representatives for Chicago-based Evergreen Real Estate Group broke ground May 19 on Green Oaks of Valparaiso, a three-story, 120-unit assisted living community for low-income seniors. The developer was joined by executives from general contractor Evergreen Construction Co., Valparaiso city officials as well as members from the Valparaiso Chamber of Commerce, Indiana Housing and Community Development Authority and Gardant Management Solutions.
The $30 million development is at 2550 Morthland Drive. It is scheduled for completion in April 2023.
“We are thrilled to now have construction underway at our second affordable assisted living community in Indiana,” said Steve Rappin, CEO of Evergreen Real Estate Group. “Green Oaks of Valparaiso will not only provide area seniors with safe, affordable housing in a familiar setting, but also the care and social interaction that significantly enhances their quality of life.”
The housing development will feature 48 studio and 72 one-bedroom apartments, all of which will be reserved for seniors age 62 or older, with incomes at or below 60% of the Area Median Income. A financial assistance program will be available for those who qualify, developers said.
Green Oaks of Valparaiso 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.
Gardant Management Solutions, a provider of affordable assisted living, has served as a member of the project development team and will manage the community.
“Our mission is to enrich the lives of the residents of Green Oaks of Valparaiso by providing them with the love, compassion and dignity they deserve, in addition to the personal assistance, help with medications and support services they need,” said Rick Banas, vice president of development and positioning for Gardant Management Solutions. “We also know residents will benefit from all of the opportunities to socialize with family, friends and neighbors and participate in a wide variety of recreational, educational and wellness activities that we will offer.”
Andre Pintauro, president of Evergreen Construction Co. said some work already has been completed including site grading, digging of retention ponds and installation of drainage infrastructure.
“Even as we continue to experience some pandemic-related challenges with supplies and labor, we expect to complete construction on time next spring, thanks in part to our integrated model that allows us to work in lockstep with the development team,” Pintauro said.
Each residence at Green Oaks of Valparaiso will feature a kitchenette with an electric range, refrigerator and microwave, as well as a full private bath with grab bars and a walk-in shower. Apartments also will include window treatments, individual heating and air conditioning, and an emergency alert call system.
On-site amenities 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 also be 90 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 will include laundry, weekly housekeeping and transportation to off-site healthcare providers and other destinations throughout Valparaiso.
The Indiana Housing and Community Development Authority authorized 4% Low Income Housing Tax Credits to support the project.
The city of Valparaiso issued tax-exempt bonds, which were sold by PiperSandler, providing debt financing. PNC Bank invested in the project, providing Low Income Housing Tax Credits equity.
