10 months ago ·

AHEPA Management Adds to Its Affordable Assisted Living Management Portfolio

DATE: October 4, 2021

CONTACT: Andrew Kaffes, akaffes@ahepahousing.org

mishawakafront

AHEPA Management Adds to Its
Affordable Assisted Living Management Portfolio

Company projects to nearly double in size by year’s end

 

FISHERS, Ind.—AHEPA Affordable Housing Management Company (AMC) reached an agreement with Gardant Management Solutions to assume management of Hellenic Senior Living of Mishawaka, a 136-unit affordable assisted living lifestyle community, effective Oct. 1, 2021, announced AMC President and CEO Steve Beck.

The transaction completes AMC’s transition to become the management company of the four affordable assisted living communities it owns in Indiana under its Hellenic Senior Living brand. AMC manages the communities through its subsidiary, Hellenic Management, Inc. (HMI).

“We are excited to meet our goal to expand our management portfolio of affordable assisted living communities in addition to being their owner,” Beck said. “Affordable assisted living is the biggest secret in the country. Our residents are provided with quality round-the-clock services that help them to maintain their independence by assisting with their activities of daily living in a safe, dignified, and affordable residential setting. We look forward to providing a level of service at HSL of Mishawaka that matches some of the finest communities in the country.”

HMI offers low-income seniors, 62 and older, access to affordable and safe residential apartment-home living with the availability of personal assistance, medication administration, and a variety of support services, such as meals, housekeeping, laundry, socialization, and transportation. Residences are one‐bedroom or studio apartments, which include a handicap-adaptable full bathroom, individually controlled heating and cooling, an emergency call system, and a kitchenette.

In addition to Hellenic Senior Living of Mishawaka, AMC owns and manages Hellenic Senior Living of Indianapolis, Hellenic Senior Living of New Albany, and Hellenic Senior Living of Elkhart, the latter of which AMC assumed management, August 1, 2021. AMC’s affordable assisted living portfolio totals 532 units.

Hellenic Senior Living of Mishawaka opened in August 2020. It is located on four acres at 1540 S. Logan St., Mishawaka, IN 46544.

According to Beck, despite the challenges imposed by the pandemic, AMC projects to double in size in 2021, going from 300 employees to an expected 550 by the end of the year.

“A shortage of dignified affordable housing for our nation’s vulnerable seniors and access to the supportive and assisted living services they need to age in place and independently exists across the nation,” Beck said, adding the company’s nationwide waitlist exceeds 4,100. “Our company is positioned for growth to meet the needs of this expanding demographic. During the pandemic, our occupancy rate remained steady at 98.5 percent, and our resilient team has done a fantastic job to provide great service to prioritize the health and safety of our residents, including the facilitation of on-site vaccination clinics.”

In September, HUD awarded $16.7 million to AMC to construct two multifamily affordable elderly properties in Des Moines, Iowa, and South Bend, Ind.

About AMC

AHEPA Affordable Housing Management Company (AMC) is a mission-driven, nationwide provider of affordable independent senior living and affordable assisted living communities. It has developed and manages 87 affordable independent senior living communities in 19 states that are administered by the U.S. Department of Housing and Urban Development’s 202 program.

AMC, through its subsidiaries, Hellenic Senior Living, Inc., and Hellenic Management, Inc., owns and manages four affordable assisted living communities with 532 units located in Indiana.

AMC is a subsidiary of AHEPA National Housing Corporation (ANHC) and is based in Fishers, Ind.

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11 months ago ·

AHEPA Management Announces Two HUD Awards

DATE: September 24, 2021

CONTACT: Andrew Kaffes, akaffes@ahepahousing.org
                                                                                                                                                           

AHEPA Management Announces Two HUD Awards for
New Multifamily Affordable Housing for Seniors

Projects will be built in Des Moines, Iowa and South Bend, Indiana

 

FISHERS, Ind.—AHEPA Affordable Housing Management Company (AMC) is proud to be the recipient of two U.S. Housing and Urban Development (HUD) Section 202 Supportive Housing for the Elderly program grant awards totaling $16.7 million to support the development of new affordable multifamily rental housing for very low-income seniors in Des Moines, Iowa, and South Bend, Ind., announced AMC President and CEO Steve Beck.

The award for the 100-unit Des Moines project is $8.9 million.

The award for the 80-unit South Bend project is $7.8 million.

“The need for affordable housing, especially for very low-income seniors, is great,” Beck said. “Each of our existing affordable elderly housing communities in Des Moines and South Bend have significant waitlists. We are excited and proud to be able to help meet this need with a significant addition of new units in Des Moines and South Bend administered by the HUD Section 202 program.”

Beck added, “I commend our team, and we look forward to working with HUD, federal and city officials, our financing partners, and local AHEPA sponsors to complete these vital projects that will bring safe and dignified affordable housing to Des Moines’ and South Bend’s vulnerable seniors.”

Carl Hollister, chairman of AMC’s parent company, AHEPA National Housing Corporation, stated, “AHEPA is a service organization of Greek Americans and philhellenes that has always sought to give back to the community since its founding in Atlanta in 1922. As volunteers serving on our local housing boards, AHEPA members are proud to be doing their part to help care for our nation’s vulnerable seniors. Congratulations to the board members of AHEPA 192 in Des Moines and AHEPA 100 in South Bend and to the AMC team.”

About AMC

AHEPA Affordable Housing Management Company (AMC) is a mission-driven, nationwide provider of affordable independent senior living and affordable assisted living communities. It has developed and manages 87 affordable independent senior living communities totaling 4,467 units in 19 states that are administered by the U.S. Department of Housing and Urban Development’s 202 program.

AMC, through its subsidiaries, Hellenic Senior Living, Inc., and Hellenic Management, Inc., owns and manages four affordable assisted living communities with 532 units located in Indiana.

AMC is a subsidiary of AHEPA National Housing Corporation (ANHC) and is based in Fishers, Ind.

For more information, please visit www.ahepamgmt.com

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1 year ago ·

Fishers Company Acquires Assisted Living Centers

FISHERS – Fishers-based AHEPA Affordable Housing Management Co. (AMC) has reached an agreement with Gardant Management Solutions in Illinois to take over management of two assisted living communities located in Indiana. The deal will be effective March 1, according to AMC President Steve Beck.

Through its newly-launched subsidiary, Hellenic Management Co., AMC says it will assume management of Hellenic Senior Living of Indianapolis and Hellenic Senior Living of New Albany.

“We are excited about future opportunities for growth and that optimism begins with reaching an agreement with Gardant to assume management of these two fine communities,” Beck said. “We have strengthened and solidified our internal resources and capabilities, including adding sales and operating platforms, to manage affordable independent and assisting living communities effectively. Gardant has been a good partner to aid us through the transition.”

Both communities opened in February 2018 and each one is a 125-unit community located on four acres. AMC says the communities offer seniors of all incomes residential apartment-home living with the availability of personal assistance, medication administration and a variety of convenience and support services.

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1 year ago ·

AHEPA Management to Operate Two Affordable Assisted Living Communities in Indiana

FISHERS, Ind. — AHEPA Affordable Housing Management Co. (AMC) has reached an agreement with Gardant Management Solutions to assume management of two affordable assisted living lifestyle communities located in Indiana, effective March 1.

Through its newly launched subsidiary, Hellenic Management Company, Fishers-based AMC will assume management of two affordable assisted living communities AMC owns, Hellenic Senior Living of Indianapolis and Hellenic Senior Living of New Albany.

“We are excited about future opportunities for growth and that optimism begins with reaching an agreement with Gardant to assume management of these two fine communities,” says Steve Beck, AMC president and CEO. “We have strengthened and solidified our internal resources and capabilities, including adding sales and operating platforms, to manage affordable independent and assisting living communities effectively”

“Affordable assisted living is the biggest secret in the country,” adds Beck. “Our residents are provided with quality round-the-clock services that help them to maintain their independence by assisting with their activities of daily living. ”

Both properties opened in February 2018 and each one is a 125-unit community located on four acres. They offer seniors of all incomes residential apartment living with the availability of personal assistance, medication administration and a variety of convenience and support services, such as meals, housekeeping, laundry, socialization and transportation.

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