January 29, 2019
Evergreen Real Estate Group is taking the lead on a project to upgrade and expand Martin Avenue Apartments, a 122-unit affordable senior housing community in Naperville, IL. The $38.6-million project will be completed in partnership with the community’s owner, Naperville Elderly Homes Inc.
“Martin Avenue Apartments has been a pillar of senior living in the Naperville area for 50 years, and we are proud to have been selected to modernize and improve the community,” said Kevin Beard, director of acquisitions at Evergreen.
Located at 310 Martin Ave. in Naperville, the community currently consists of 81 studio and 41 one-bedroom units that will be upgraded. Additionally, a new five-story wing (pictured) will add 68 apartments, mainly one-bedroom.
Construction is scheduled to begin in late spring, with completion expected in late 2019 for the existing structure and mid-2020 for the new units. All 190 apartments will be reserved for low-income seniors.
For comments, questions or concerns, please contact Paul Bubny