Work begins on affordable senior housing project in South Bend
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American Hellenic Educational Progressive Association Senior Living, a nationwide provider of affordable multifamily housing for older adults, broke ground Thursday on the $20 million second phase of its AHEPA 100 Apartments in South Bend.
The three-story building will add 72 units to the housing stock for folks 62 years old and above with an household income of less than 50% of the area’s median income. The AMI for South Bend is $49,056 according to U.S. Census data.
“The need for affordable housing, especially for low-income seniors, is great. In South Bend, our Phase One community has a waitlist,” ASL CEO Steve Beck said. “We are excited and proud to help South Bend seniors who need safe and dignified housing with the addition of 72 units thanks to our financing partners, the support we received from HUD and the Indiana Housing and Community Development Authority.”
Beck talks about the details of the 72-unit affordable senior living project.
Developers said funding for the project includes a $7.3 million capital advance from the U.S. Department of Housing and Urban Development, $10.1 million low-income housing tax credit, a state bond and a mortgage.
“I applaud AHEPA for what they’re doing and adding on with the second building for new residents. This is a great day for those of us in our community, and I’m so thankful that you have chosen to be here,” Indiana State Senator Linda Rogers, R-Granger, said at the groundbreaking ceremony. “While I’m excited to be here today, I can’t wait for the day when the building’s completed and I look at the faces of the new residents and the smiles on their faces.”
With decades of experience in the construction industry, Rogers commented on the rising construction costs and commended ASL for its commitment to providing housing and security to older and disabled seniors.
ASL has developed and managed over 90 HUD Section 202 communities in 19 states, serving over 5,000 older adults, with a misison to provide them with safe, enriching and affordable residential commuinties to thrive. The not-for-profit organization also manages four affordable assisted living facilities in Elkhart, Mishawaka, Indianapolis and New Albany.
With the oldest boomers turning 80 next year, Beck noted that the need for senior housing will be astronomical over the next few years.
“Affordable senior housing right now is underserved by about 7 million homes and 72 units is probably not going to do much to that number, but it’s going to help,” Beck continued. “We have more people on the waiting list than units, there’s just not enough apartments.”
In Indiana, ASL has 636 affordable senior living units and there are currently 730 people on the waitlist, Beck noted. Nationwide, almost 5,500 seniors are waiting for a spot to open up.
Locally, the project is spearheaded by AHEPA 100-II Inc., through its board of directors. The local board donated the land for the property to ASL. The first phase of AHEPA 100 Apartments has 50 units. Upon completion, ASL will have 122 units in South Bend.
Phase II will have walk-in showers, a community room, an exercise room and a solar roof to take advantage of renewable energy.
“We basically have two buildings that are now under construction, one in Des Moines, Iowa, and this one here, both will have solar roofs,” Beck said. “They’re not cheap but we were able to figure it out financially and we’re committed to doing that.”
The construction timeline is 13 months and Beck projects the building will be ready by late 2025.
Founded in 1922 in Atlanta, Georgia, AHEPA is billed as the largest and oldest grassroots association of American citizens of Greek heritage and Philhellenes with more than 400 chapters across the United States, Canada, and Europe.