Rendering of Hellenic Senior Living, Mishawaka, IN
MISHAWAKA, IN—AHEPA Management Company has arranged financing for a new Mishawaka, IN affordable assisted living facility. With a future address of 1540 S. Logan Street, Mishawaka, IN, the new project, Hellenic Senior Living of Mishawaka, is estimated to take 16 months for construction, with an expected completion date of second quarter 2020.
The architect for the property is Gleason Architects of Sugar Grove, IL. Gardant Management Solutions of Bradley, IL is the property management company/operator and Shiel Sexton of Indianapolis is the general contractor. The property will be built to meet the Bronze Rating under the National Green Building Standards designation.
AALFs are Low Income Housing Tax Credit (LIHTC) properties that receive Medicaid waiver reimbursement payments to pay for the assisted living services provided. Seniors age 62 and older who have an income at or below 60% of St. Joseph County's area median income are eligible for residency.
“The property is well-designed, well-constructed and energy efficient. Given the area's large population and a strong market study which shows pent-up demand for affordable assisted living in the Mishawaka/South Bend area,” says Todd Jensen, director of development for AHEPA Management Company and Hellenic Development. “We are excited to offer a high-quality, lower-cost assisted living option to low-income seniors in Northern Indiana.”
Combining apartment-style housing with personal care and supportive services, Hellenic Senior Living of Mishawaka will consist of 136 units over three floors. The units are a mix of 55 studio apartments of 350 square feet, and 81 one-bedroom units which range from 514 to 522 square feet. Each unit will have a kitchenette with a combination microwave and refrigerator, sink, counter space and cabinets. All kitchens and bathrooms will allow for a five-foot turning radius for wheelchair use.
Hellenic Senior Living of Mishawaka is situated in a scenic 6.2-acre setting on the edge of a forest. Community spaces will include an activity room, large central dining room, beauty salon, convenience store, library, exercise room, medical examination room and a variety of lounge areas.
The property is conveniently located approximately 2 miles southwest of downtown Mishawaka, 1.6 miles from the nearest hospital, 4 miles from South Bend and 5 miles from the University of Notre Dame. The large-scale project should generate direct economic benefits to the city of Mishawaka and the surrounding region. Once stabilized, the facility will employ about 40 full-time equivalent employees.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
