Multifamily N Illinois

Evergreen Real Estate Group grows national affordable housing portfolio

Martin Avenue Apartments in Naperville, Illinois. Martin Avenue Apartments in Naperville, Illinois.
Legacy Lofts in Milwaukee. Legacy Lofts in Milwaukee.
Neosho Plaza Apartments in Council Grove, Kansas. Neosho Plaza Apartments in Council Grove, Kansas.

Chicago-based Evergreen Real Estate Group 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 three properties in Illinois: Brookhaven Apartments, a 181-unit affordable housing community in Gurnee; the Martha Washington Apartments, a 104-unit affordable senior community in Chicago and Martin Avenue Apartments in Naperville which features 122 affordable senior units. Three affordable housing communities in Kansas were also included: the 91-unit Johnstown Towers in Salina, the 33-unit Neosho Plaza Apartments in Council Grove and the 38-unit Oakdale Plaza Apartments in Salina.

There were also two properties in Ohio—the 270-unit Carter Manor Apartments which has affordable housing for seniors and disabled individuals in Cleveland and in Hamilton, a 168-unit affordable housing community, Neilan Park Apartments. Finally, Legacy Lofts, a 64-unit mixed-income housing community in Milwaukee, rounded out the list of new properties. 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.

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,” he said. “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.”