GOSHEN, Ind. — Evergreen Real Estate Group has completed Green Oaks of Goshen, a 120-unit assisted living community for low-income seniors in Goshen, a city in northern Indiana.
Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor on the project, which recently welcomed its first residents and is currently 50 percent leased.
Located at 282 Johnson St., the $30 million project replaces a vacant, three-acre lot on the city’s north side near an existing Salvation Army building. Bourbonnais, Ill.-based Gardant Management Solutions operates the four-story community.
Green Oaks of Goshen offers 49 studio and 71 one-bedroom units, all of which are reserved for seniors age 62 or older with incomes at or below 80 percent of the area median income.
The Indiana Housing and Community Development Authority authorized 4 percent Low-Income Housing Tax Credits (LIHTC) for the project. In addition, the City of Goshen issued tax-exempt bonds that were sold by Piper Sandler, providing debt financing. Affordable Housing Partners also invested in the project, providing LIHTC equity.