The Polk County Housing Trust Fund (PCHTF) congratulates AHEPA Senior Living on celebrating the groundbreaking for their new AHEPA 192-IV community earlier today. The property will offer 90 senior apartments at 6705 SE 5th Street in Des Moines, next to Southridge Mall. PCHTF has committed $1.125 million of federal American Rescue Plan Act (ARPA) funds to support the project.
“This project is a win-win for Des Moines. It continues to transform the area around Southridge Mall by adding additional housing, and it provides an outstanding opportunity for some of the most vulnerable seniors living in our community,” said Toby O’Berry, Executive Director of the Polk County Housing Trust Fund.
AHEPA management company is a non-profit developer of affordable senior housing across the United States founded in 1991. Like many others this organization manages, AHEPA 192-IV is part of the federal HUD 202 program, meaning the property serves extremely low income seniors age 62+. It will offer income-based rental assistance as well as a robust program of supportive services to assist residents with needs of daily living and provide social engagement.
The investment PCHTF has committed uses federal ARPA funds allocated to PCHTF by the Polk County Board of Supervisors in April 2022. Today’s announcement brings the total committed from this $12 million fund to $7.3 million to support 243 units of affordable housing at or below 60% of the area median income within properties that offer a total of 336 housing units.