Seniors Housing N Illinois
The 101-unit South Chicago Elderly Housing facility at 3039 E. 91st Street in Chicago.

POAH acquires Chicago-area YMCA senior housing properties

Preservation of Affordable Housing (POAH) is acquiring six senior housing facilities financed by HUD and currently owned by YMCA Foundation entities. POAH will continue providing affordable rental housing to seniors at all 461 apartments, which were previously managed by the YMCA of Metropolitan Chicago. As the new owner, POAH will honor existing leases for current residents in all six buildings.

Seniors Housing N Illinois
Co-located library/affordable senior housing project opens in West Ridge

Co-located library/affordable senior housing project opens in West Ridge

Evergreen Real Estate Group recently celebrated the grand opening of the Northtown Branch Library, located at 6800 N. Western Avenue in Chicago’s West Ridge neighborhood. Designed by Perkins+Will, the project is one of two co-located housing and library developments Evergreen has built in partnership with the city of Chicago, Chicago Housing Authority and Chicago Public Library.

Seniors Housing v Wisconsin
Evergreen Real Estate wraps $2 million renovation of Wisconsin seniors housing

Evergreen Real Estate wraps $2 million renovation of Wisconsin seniors housing

Evergreen Real Estate Group has completed a $2 million renovation of Durand Plaza, a 72-unit affordable senior housing community in Racine, Wisconsin. Evergreen, which acquired the property in October 2017 and has managed it since, also secured a 20-year extension of the property’s Section 8 Housing Assistance Payments contract in conjunction with the renovation.

Seniors Housing N Illinois
Debra Cafaro;Ventas

Ventas' Debra Cafaro inducted into ASHA all of fame

Ventas chairman and CEO Debra A. Cafaro was inducted into the American Seniors Housing Association’s (ASHA) Senior Living Hall of Fame on January 31, 2019, in recognition of her industry vision, innovation and foresight. Cafaro was honored alongside Sunrise Senior Living founder Paul Klaasen and National Investment Center for Seniors Housing & Care co-founder, the late Tony Mullen.

Seniors Housing N Illinois
Azipra Place of Lake Zurich, a 120-unit senior living community in Lake Zurich, Illinois, opened in 2017 and is one of nine assets jointly owned and operated by Waterton and Pathway to Living.

Waterton acquires controlling interest in senior housing owner/operator Pathway to Living

Waterton, a Chicago-based real estate investor and operator, has acquired a controlling interest in Pathway to Living operating company, a Chicago-based owner and operator of senior living communities with an established senior living brand and a well-respected operating and investment track record spanning over 20 years. Similar to Waterton, Pathway to Living is vertically integrated, with full-service teams handling acquisitions, development and management of senior living communities.

Seniors Housing N Illinois
Pictured from left to right: George Mesires of Faegre Baker Daniels, Suzanne Koenig of SAK Management Services, David Watkins of SHA Capital Partners, Mathew Dougherty of McShane Construction Company and Janet Meyer, AIA of BCT Architects.

Supply and labor concerns in the senior housing sector

Approximately 150 industry professionals crowded into the University Club on Wednesday, November 7th for REjournals’ 10th annual Chicago Senior Housing Real Estate Conference. While the mid-term elections were fresh in everyone’s minds, the most-discussed topics of the day had more to do with overbuilding and labor shortages than politics.