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Evergreen Renovates Senior Community in Englewood
Evergreen Real Estate Group completed a $4-million renovation of Bethel Terrace Apartments, a 123-unit affordable senior housing community in the South Side’s Englewood neighborhood.
Evergreen Construction Co., the firm’s full-service construction arm, managed the six-month project as a phased, “in place” renovation. Evergreen also helped secure the renewal of Housing and Urban Development (HUD) Section 8 HAP tenant-based assistance for an additional 20 years to help preserve affordability.
“We’re proud to play a role in the continued revitalization of Englewood,” said Steve Rappin, CEO of Chicago-based Evergreen Real Estate Group, which manages the property.
Bethel Terrace is connected by a ground-level corridor to the adjacent Sangamon Terrace Apartments, a four-story affordable senior housing development that represented the nation’s last new-construction housing mixed-finance HUD Section 202 project when it was completed in 2015. HUD recently announced a new round of Section 202 financing.
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