Forest Oaks Senior Apartments
Henry Bros. Co. completed a new five-story, 85,000 S.F. “podium” building that includes 4,300 S.F. of first-floor commercial and community spaces with 56 residential units on floors two through five. The basement has heated parking for residents, along with various mechanical rooms. Funded in part with IHDA LIHTC tax credits, the project offers seniors affordable living near the train station and other centrally-located shopping and community amenities.
As is customary with Section 42 tax credit projects, HBCo was involved from the early design phases providing comprehensive preconstruction services for the owner. Working as an integral member of the development team from the earliest stages, HBCo’s input and guidance proved indispensable in helping the client make important development decisions, which enhanced the project’s success. We provided all of the documentation needed by the client, and their respective capital sources, to ensure the project “closed” on the targeted deadline, which allowed for project funding and timely commencement of construction.
Today the building is fully leased.