Evergreen Completes $30M Affordable Housing Project in Indiana

Evergreen Real Estate Group has completed Green Oaks of Goshen, a four-story, 120-unit assisted living community for low-income seniors in Goshen, Indiana.

Evergreen Construction Company, a division of Evergreen Real Estate Group, served as the general contractor on the project. Located at 282 Johnston Street, the $30 million project replaces a vacant three-acre lot on the city’s north side, near an existing Salvation Army building and retail along Main Street.

The community is operated by Gardant Management Solutions, a Bourbonnais, Illinois-based firm. The Indiana Housing and Community Development Authority authorized Low-Income Housing Tax Credits (LIHTC) in support of the project. The city of Goshen also issued tax-exempt bonds that were sold by Piper Sandler, providing debt financing. Affordable Housing Partners also invested in the project, providing LIHTC equity.

Green Oaks of Goshen is Evergreen’s first affordable assisted living development in Indiana, one of two the firm currently is developing in the state.

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