October 10, 2024
AHEPA Senior Living Breaks Ground on Second South Bend Community
SOUTH BEND, INDIANA – AHEPA Senior Living (ASL), a nationwide nonprofit provider of affordable multifamily housing for older adults, held a groundbreaking ceremony for AHEPA 100 Phase II Apartments in South Bend, Ind., Oct. 10, 2024, announced ASL President and CEO Steve Beck.
AHEPA 100 II, Inc. Board President Panos Niarchos welcomed the attendees. The speaking program featured Indiana State Senator Linda Rogers, Courtney Papa, regional director, U.S. Senator Todd Young; Griffin Nate, district director, U.S. Representative Rudy Yakym; HUD Account Executive Jessica Duarte and Senior Project Manager Coordinator Mary Watkins, and AHEPA Supreme Vice President E. Chris Kaitson, who also serves on the local housing board, AHEPA 29, Inc., Houston. Beck moderated the program, which also featured a ceremonial first shovel dig. Rev. Father Alexis Torrance, University of Notre Dame Department of Theology, performed the ground blessing. AHEPA Senior Living board members who participated included Executive Committee Members Angelo Kostarides and Charrie Regopoulos and Directors Kathy Bizoukas and Angela Magrames. AHEPA Supreme Treasurer Themistocles Frangos and AHEPA Board of Trustees Member Louis G. Atsaves attended.
“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,” State Senator Rogers said.
AHEPA 100 II Apartments will be a three-story, 72-unit HUD-assisted affordable senior living community located on 3.86 acres. It will be the second affordable senior housing community administered by the U.S. Department of Housing and Urban Development Section 202 program and managed by AHEPA Senior Living in South Bend. AHEPA 100 II, Inc., is the project’s nonprofit sponsor.
AHEPA Senior Living closed on the $20.45 million deal on October 8, 2024. Financing is comprised of a $7.3 million HUD Section 202 capital advance, $10.161 million low-income housing tax credit allocation, and a permanent mortgage loan.
“The need for affordable housing, especially for seniors, is great,” Beck said. “In South Bend, our Phase One community has a waitlist. So, we are excited and proud to help seniors who need safe and dignified housing with the addition of 72 units thanks to our financing partners and with the support we received from HUD and the Indiana Housing and Community Development Authority.”
The event earned media coverage from WNDU16 News Now, ABC57, Inside INdiana Business, Senior Housing News, and McKnights Senior Living.
AHEPA Senior Living affordable independent living communities offer very low-income older adults, 62 and over, residential apartment-home living with the voluntary supportive services they may need to continue to live independently as they age. Through service coordination, the services may include meal services, case management, transportation assistance, public benefits programs enrollment assistance, fitness and wellness programs, housekeeping assistance, and health services. As HUD Section 202 developments, they are subsidized and provide rental assistance for very low-income seniors.
About AHEPA Senior Living
Serving more than 5,000 older adults across the United States, AHEPA Senior Living (ASL) is a mission-driven, nationwide provider of affordable independent and assisted senior living communities. Since 1980, it has developed and managed more than 90 affordable senior housing communities in 21 states administered by the U.S. Department of Housing and Urban Development Section 202 Supportive Housing for the Elderly program.
Through its subsidiaries, ASL owns and manages four affordable assisted living communities with 532 units in Indiana.
The mission of ASL is to provide older adults with safe, healthy, and enriching affordable residential communities and quality services that allow them to thrive and enjoy peace of mind.
To support our mission, please visit https://ahepaseniorliving.org/donate/
AHEPA Senior Living is based in Fishers, Ind.