Released April 27, 2016
Angelo Kostarides, President of AHEPA 232, Inc. and of AHEPA National Housing Corporation, has announced that AHEPA 232, Inc., developer of AHEPA 232 Apartments, 7355 Shadeland Station Way in Indianapolis, has been awarded a Service Enriched Housing (SEH) grant from the Department of Housing and Urban Development (HUD) in the amount of $2.38M. The grant is to support the company’s Assisted Living Conversion Program (ALCP) to convert 24 of the 72 apartment units in AHEPA 232 Apartments from senior housing units to Assisted Living housing.
The closing of the grant took place in mid-April at the Indianapolis HUD office. Present were Craig McCafferty of CPM Construction, Jason Sherman of Berardi Partners Architects, Angelo Kostarides, President of Ahepa 232, Inc. and Rob Rusterholz of the U. S. Department of Housing and Urban Development (HUD).
AHEPA 232, Inc. is the recipient of one of only six grants awarded nation-wide as part of HUD’s Assisted Living Conversion Program. The program as stated by a HUD press release, “supports the transformation of housing into units that can accommodate the special needs of seniors seeking to remain in their homes or “age in place.”’AHEPA 232 Apartments opened in 1985 as a Section 202 affordable senior property. The building is managed by AHEPA Management Company, which will oversee the new services.
About AHEPA National Housing Corporation
AHEPA National Housing Corporation (ANHC) develops HUD-subsidized Section 202 housing for low income disabled and elderly ages 62 and up. Established in 1983, ANHC is headquartered in Fishers, IN and serves over 4887 senior citizens throughout 22 states with apartments and expanding amenities. AHEPA National Housing Corporation complies with the Federal Fair Housing Act through Equal Housing Opportunity. It is a not-for-profit 501(c)3 organization.
Property management services for AHEPA National Housing Corporation communities are provided by AHEPA Management Company, a wholly-owned subsidiary of AHEPA National Housing Corporation established in 1991 to provide on-site property management, maintenance and resident-empowering support services for all AHEPA National Housing Corporation communities. Currently AHEPA Management Company, a non-profit 501(c)3 organization, supports 90 apartment buildings throughout the United States. AHEPA Management Company also provides management services for subsidized apartments with outside ownership.
For more information on AHEPA National Housing Corporation, visit www.ahepahousing.org, or call 317-845-5890.
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