Revitalizing and Expanding Senior Housing in Naperville

Evergreen was engaged by Naperville Elderly Homes Inc. (NEH), the long-term owner of Naperville Elderly Housing (aka Martin Avenue Apartments), to serve as turn-key developer of the rehabilitation and new construction of affordable units serving seniors 62 years and older.  NEH’s all-volunteer board envisioned rehabilitating the existing property and expanding the availability of senior housing in the area where incomes and rents are out of reach for most seniors.  Their vision was realized after partnering with Evergreen to create a financial structure that included securing both 4% and 9% Low-Income Housing Tax Credits.  The rehabilitation of the 122 existing studio and one-bedroom units included major renovation of the site, units and community space, including reconfiguration of community spaces on the first level that incorporated a new main reception area, a community room, a fitness center, a new “Bistro” area, and the addition of a solarium for year-round use.  The new five-story, 68-unit building was simultaneously built adjacent and connected to the existing building.  The development also restored a second-floor outdoor terrace and reconfigured and enlarged outdoor spaces.  Evergreen worked closely with NEH on all decisions during the development and construction period, ensuring success for all stakeholders and most importantly, the residents.