Chicago-based Evergreen Real Estate Group said it has landed the financing needed to develop Green Oaks of Valparaiso, a three-story, 120-unit assisted living community for low-income seniors.
The developer plans to start preliminary site work this month.
Evergreen Construction Co., a division of Evergreen Real Estate Group, will serve as general contractor for the $30 million construction project. The assisted living community is now projected to welcome its first residents in early 2023.
Steve Rappin, CEO of Evergreen Real Estate Group, said the Valparaiso project is the company's second assisted living community for low-income senior citizens in Indiana. The first is in Goshen.
“In addition to bringing much-needed assisted living residences to the community, this project will create jobs and contribute to the local tax base,” he said.
Green Oaks of Valparaiso will have 48 studio and 72 one-bedroom apartments for seniors 62 and older who make no more than 60% of the area median income. Financial assistance will be available.
Each apartment will feature a kitchenette with stove and refrigerator, a full bath with grab bars and a walk-in shower, an emergency alert call system and heating and air conditioning.
The design was adapted in response to the coronavirus pandemic.
“We call the changes we have implemented our ‘pandemic response,’ which includes everything from additional hand-washing and sanitizing stations to spaced out furniture configurations,” Rappin said.
Amenities at the Green Oaks of Valparaiso will include a community room, a computer room, a media and theater room, a meeting room, a reading room, a library, a gym and a beauty salon. Outside, it will have a community garden, pond, courtyard, pavilion and 90 parking spaces.
A dining room will serve three meals a day and snacks. Staff will help residents with bathing, grooming, dressing, shopping and managing their prescription medications. It also will offer services such as housekeeping, laundry and transportation to doctors' offices off-site.
Gardant Management Solutions will manage the property. Evergreen intends Green Oaks to be licensed as a residential care facility by the Indiana Department of Health and approved as a Medicaid-waiver provider by the Indiana Family and Social Services Administration.
The Indiana Housing and Community Development Authority, the city of Valparaiso and PNC Bank helped finance the construction.
“We expect construction of Green Oaks of Valparaiso to go smoothly and seamlessly, as it is very similar in its interior design to the senior living community our team is currently building in Goshen," Evergreen Construction President Andre Pintauro said.
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Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.
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