Evergreen Real Estate Group Grows National Affordable Housing Portfolio
Property management division of Chicago-based firm expands with addition of new properties in Illinois, Kansas, Ohio and Wisconsin
CHICAGO (Jan. 4, 2019) — Chicago-based Evergreen Real Estate Group, a leader in the acquisition, development, rehabilitation and management of both affordable and market-rate multifamily housing, today announced it has been retained to manage nine affordable housing communities comprising a total of 1,071 units across Illinois, Kansas, Ohio and Wisconsin. The assignments include a mix of affordable housing for families, seniors and people with disabilities, expanding Evergreen’s management portfolio to more than 8,500 units throughout the U.S.
“Evergreen is committed to creating, preserving and managing quality affordable housing that offers those facing financial hardship a good, safe place to live and call home,” said Steve Rappin, president of Evergreen Real Estate Group. “The need and demand for affordable housing continues to grow, and our broad range of experience allows us to bring creative solutions and best-in-class services to our residents, third-party owners, housing agency partners and investors.”
The new assignments include:
• Brookhaven Apartments – 181-unit affordable housing community in Gurnee, Ill.
• Carter Manor Apartments – 270-unit affordable community for seniors and disabled individuals in Cleveland
• Johnstown Towers – 91-unit affordable housing community in Salina, Kan.
• Oakdale Plaza Apartments – 38-unit affordable housing community in Salina, Kan.
• Legacy Lofts – 64-unit mixed-income housing community in Milwaukee
• The Martha Washington Apartments – 104-unit affordable senior community in Chicago
• Martin Avenue Apartments – 122-unit affordable senior community in Naperville, Ill.
• Neosho Plaza Apartments – 33-unit affordable housing community in Council Grove, Kan.
• Neilan Park Apartments – 168-unit affordable housing community in Hamilton, Ohio
Evergreen tailors its management approach to each asset in a way that meets the needs – and achieves successful outcomes – for both the property’s owner and its residents, said Rappin. “At Evergreen, our approach goes beyond the bricks and mortar. We see each development as an investment in a community of people, and providing top-notch service to our residents is a key focus of our property management mission.”
As property manager, Evergreen will oversee site-level operations and, in some communities, plans to improve and upgrade the buildings using low-income housing tax credits and other subsidies.
About Evergreen Real Estate Group:
Founded in 1999, Chicago-based Evergreen Real Estate Group is a fully integrated multifamily company that develops, acquires and manages affordable and market-rate multifamily apartments for both seniors and families across 10 states. Evergreen specializes in thoughtful, creative residential development solutions. From adaptive reuse of historic buildings to new development in cities and towns facing a shortage of affordable housing, Evergreen is led by a passionate, cross-disciplinary team of developers, architects, urban planners and attorneys who have come together to create high-quality apartment communities, often in collaboration with local municipalities and financial partners who share its vision of investing not just in real estate, but also the people who call our communities home. Evergreen currently owns and manages 8,500 units of multifamily housing.
#
Editors:
For more information or to schedule an interview, contact Kathryn Kjarsgaard, [email protected] or (312) 267-4514.
Photo captions:
The Legacy Lofts Rendering: Evergreen Real Estate Group’s recent property management assignments include Legacy Lofts, a 64-unit mixed-income rental community on the site of the former Blommer Ice Cream Factory in Milwaukee.
Martin Avenue Senior Housing Entry: Martin Avenue Apartments, a 122-unit affordable senior housing community in Naperville, Ill., is among the nine new property management assignments recently announced by Evergreen Real Estate Group.
