August 18, 2023

AHEPA Senior Living Breaks Ground on Fifth Des Moines Area Community

DES MOINES, IOWA— AHEPA Senior Living (ASL), a nationwide nonprofit provider of affordable multifamily housing for older adults, held a groundbreaking ceremony for AHEPA 192 IV Apartments in Des Moines, Iowa, Aug. 18, 2023, announced ASL President and CEO Steve Beck.

The speaking program featured City Councilman Joe Gatto, Steve Eggleston, HUD Des Moines Field Office director; ASL Chairman of the Board Ike Gulas, and AHEPA 192 IV, Inc., Board President James L. Karthan, and AHEPA and Daughters of Penelope local chapter officers. Beck moderated the program, which also featured a ceremonial first shovel dig. Father Basil Hickman of Saint George Greek Orthodox Church performed the ground blessing. Attendees included representatives from the offices of U.S. Senators Charles Grassley (R-IA) and Joni Ernst (R-IA), and U.S. Rep. Zach Nunn (R-IA). Several ASL Executive Board officers and members also attended.  The event earned coverage from the Des Moines Register, McKnights Senior Living, The Business Record, Senior Housing News, and The National Herald.

AHEPA 192 IV will be a three-story, 90-unit affordable senior housing community located on 4.4 acres of the old Southridge Mall site. It will be the fifth Des Moines-area affordable senior housing community managed by ASL and administered by the U.S. Department of Housing and Urban Development Section 202 program.

According to Beck, AHEPA 192 Phase IV is the first HUD 202 community ASL is constructing since HUD began funding capital advances for new 202s in earnest a few years ago.

AHEPA 192 IV is a $23.5 million project.  Its financing is comprised of a $8.3 million HUD Section 202 capital advance, a $9.4 million low-income housing tax credit allocation, a $1.25 million Polk County Housing Trust Fund award, a $3.7 million HUD 223(f) mortgage loan, and $400,000 from the City of Des Moines.

“The need for affordable housing, especially for very low-income seniors, is great, and in the Des Moines area, each of our four existing communities has a waitlist,” Beck said. “We are excited and proud to be able to help seniors in need of safe and dignified housing with 90 new units thanks to our financing partners and the support we have received from the City of Des Moines, Polk County Housing Trust Fund, and HUD, and special thanks to our development team.”

ASL also manages AHEPA 192 Phase I Apartments in Johnston; AHEPA 192 Phases II and III Apartments, and Penelope 38 Apartments, in Ankeny. These four communities total 196 units.

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 ASL

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.

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ASL is based in Fishers, Ind.