After well over three years of pushing and working, and then 2 months of pushing our closing back week by week, we were able to successfully close on our project yesterday. Our project has been funded and initial funds, including some cash for NEH, have been wired.
We can now embark on construction full speed ahead. We have a deadline of having all the remodeling work done by the end of this year. Because of all the delays, this will be a challenge for us – we will be working over the next few weeks to develop a schedule that will get us there.
We could have not gotten here without the help of numerous people. First, we have developed an outstanding board with members who are tremendously engaged. Thanks to all of you for stepping up when things got tough. This all started long ago when the board agreed to spend $150,000 to begin exploring this project. That was a step of faith for us back then and it’s wonderful to see it paying dividends now.
Although our first run at this was done solo, we now know that we couldn’t have ever gotten here without our Joint Venture partner, Evergreen Real Estate Group. I don’t know what to say about them to adequately show what an unbelievable team of professionals they are with a focus of making a difference in the low income housing world. From the very beginning Kevin Beard looked at our project, understood not only our goals, but also our mission, and began devising plans to improve our chances of securing financing. The project grew from around $17M to almost $30M. When done it is going to make a difference in our community. Linda Brace has been one of the most tireless people I’ve met. Every time we’ve met a challenge along the way she just rolled up her sleeves and took another run at it. The legal quagmire we’ve had to navigate has been mind-boggling for me. This is just one of the areas that would have been impossible for us to deal with without Evergreen at our side.
Thanks to everyone. I hope you all can sense how excited we are to share our joy. Please feel free to pass this email around to others you know who are interested in Martin Avenue Apartments.
—Dave Weeks, July 19, 2019
Original Post, June 3, 2019 / Naperville Elderly Homes (“NEH”) will host a Groundbreaking Ceremony for the expansion and remodeling project of the Martin Avenue homes at 4PM on Wed., June 5.
After working for more than three years with the Illinois Housing Development Authority (“IHDA”), Wintrust Bank, DuPage County and the City of Naperville, renovations are ready to begin.
NEH, also known as Martin Avenue Apartments, is a nonprofit housing facility which provides affordable living accommodations for low income seniors. Dave Weeks, who leads the board of volunteers, is looking forward to the extensive renovations.
Above / In late October 2018, Naperville Elderly Homes hosted an open house when Dave Weeks announced comprehensive plans for the renovations, expansion and funding. For the last 3 1/2 years, much of his time leading the NEH Board of Directors has been spent working on a complete remodel with an expansion that will add 68 low-income senior units.
“The renovation and expansion of NEH will not only ensure that existing seniors will be well-served for the next 40 years,” stated Weeks in a news release, but the new homes “also help fill the critical shortage of quality, affordable senior housing in Naperville and surrounding communities.”
Above / Last fall, artist’s renderings of the new facility were on display for residents and the community to view.
Martin Avenue homes since 1974
Built in 1974 by the Naperville Ministerial Council, the NEH are comprised of 120 studio and one-bedroom units that have remained at full capacity with an extensive waiting list since opening. This new project will allow NEH to expand their capacity so they can continue to provide the best housing value and services for low income seniors.
The NEH Board awarded the expansion project to architecture firm Worn Jerabek Wiltse to design the renovations and expansion, which includes rehabbing all 120 existing studio and one-bedroom units, and expanding the facility by 70 additional units in a new five story structure. Renovations on existing units include new bathrooms with easy entry showers, new appliances, granite countertops, LED lighting, new carpeting, and increased safety measures such as shower benches and wall railings. Total cost of the project is expected to be about $29 million.
Construction will begin following the Groundbreaking Ceremony on June 5, which will be conducted on the property at 310 Martin Avenue and followed by a brief reception with light refreshments where guests will be able to see project renderings and plans.
For more details regarding this ground breaking and to reply attendance, visit NEH website.
Story and new logo submitted by Jenny Shepherd for Naperville Elderly Homes/Martin Avenue Apartments. (PN File Photos)
