MAYWOOD, Ill. — Evergreen Real Estate Group has completed $7 million in renovations to Garden House of Maywood, a 144-unit affordable seniors housing community in the western Chicago suburb of Maywood.
Housing and Human Development Corporation (HHDC) acquired the 10-story building in 2018 using tax credits to help fund capital improvements. Evergreen has managed since 2017, and Evergreen Construction Co. managed the nine-month project.
The phased renovations allowed residents to remain in their homes during construction. All residential units were updated with new windows and window treatments. Sinks, cabinetry, countertops, appliances and flooring were replaced in many units. Bathrooms were also repainted and refitted, with 15 units receiving accessibility upgrades.
Common areas received new paint, flooring and furniture, with complimentary Wi-Fi installed throughout. In addition, the large lounge area was reconfigured to create dedicated spaces for a library, TV room, kitchen and multi-purpose community room. Elevators were modernized, and the electrical, plumbing and HVAC systems were upgraded and enhanced.
Exterior improvements include a facade restoration, new roofing, repaired sidewalks and curbs, resurfaced parking lot with two accessible spaces, and a new concrete patio with accessible seating.
“Garden House of Maywood was in dire need of physical repairs, but the addition of a full-time social services coordinator has been equally beneficial to residents’ quality of life,” says Polly Kuehl, executive director of HHDC.
“We were able to complete the bulk of the work prior to the pandemic, allowing seniors to reside in their homes more comfortably and safely during the shelter-at-home period,” adds Andre Pintauro, president of Evergreen Construction Co.
Evergreen helped secure financing for the $7 million renovation, including Low-Income Housing Tax Credits (LIHTC) awarded by the Illinois Housing Development Authority (IHDA) and syndicated by Stratford Capital Group. Other financing partners included IFF, which provided predevelopment financing; CIBC Bank, which provided bridge financing and equity; and NorthMarq and Freddie Mac, which provided the property’s permanent loan.