Evergreen Real Estate Group has announced the start of construction on Bellwood Senior Apartments, an 80-unit affordable rental community at 542 25th Ave. in Bellwood. Evergreen joined Sen. Kimberly A. Lightford (D-4th), Rep. Will Guzzardi (D-39th), Bellwood Mayor Andre F. Harvey and officials from the Illinois Housing Development Authority (IHDA), Bank of America, Cook County Board, and IFF at a groundbreaking ceremony on June 23.
The $30 million project will replace a former Walgreens with a four-story, 73,228-square-foot residential building. Professionally operated by Evergreen’s in-house management team, many of whom have previously worked in social services and the nonprofit sector, Bellwood Senior Apartments will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors age 62 or older, with incomes at or below 60% of the Area Median Income. Evergreen will begin accepting applications for the apartments in spring 2023, with completion expected by mid-2023.
Designed by Weese Langley Weese Architects, the contemporary building features gray and black brick masonry accented with large offset vertical panels, dramatic roof overhangs and bright perforated metal panel screens. Situated on the corner of Washington Boulevard and 25th Avenue, the building faces both streets and features four floors of floor-to-ceiling glass curtain wall that also encloses the resident community activity spaces. The structure also features walk-out balconies with bright orange perforated panel rails. There is a covered entry at Washington and a similar connected entry for the rear parking area.
The apartments will feature full kitchens with appliances, accessible bathrooms, window treatments and intercom entry systems.
Shared amenities include laundry rooms on each level; community rooms on floors one, three and four; a fitness center; and storage rooms. The property also offers a surface parking lot for resident use.
Bellwood Senior Apartments will be close to shops, restaurants and other businesses along 25th Avenue and less than a mile north of the Eisenhower Expressway. The community also will be about a mile from the Melrose Park Metra station, served by the Union Pacific West Line, and close to bus routes that connect to the CTA’s Forest Park Blue Line station.
FH Paschen, with more than 100 years of experience in construction across a diverse portfolio of industry sectors, is the general contractor for the project.
Financial partners for Bellwood Senior Apartments include IHDA as the tax credit issuer (both Low Income Housing Tax Credits and Illinois Affordable Housing Tax Credits) and subordinate funds provider; the Village of Bellwood, which provided TIF incentives and a loan; Bank of America, which is the investor and construction loan lender; Hudson Housing Capital, which syndicated the tax credits; and Cook County, which is providing HOME funds.
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