Chicago-based Senior Housing Group LLC (SHG) is committed to the long-term preservation of government-subsidized affordable housing for limited-income seniors around the country. Based upon a commitment to the residents’ well-being and a strong belief that a government-subsidized building does not need to look – or feel – any different than a well-maintained conventional apartment building, SHG’s mission is to help preserve high quality housing for income-restricted seniors. This commitment and belief are on display every day at each of the 22 affordable senior buildings (1,958 units) in which SHG President Steve Greenbaum has ownership interests.
At a time when the need for affordable senior housing is increasing in every state, SHG works hard to ensure that properties currently serving seniors on limited incomes are able to continue doing so well into the future. SHG acquires existing affordable senior buildings where residents already benefit from project-based rental subsidy. Soon after acquisition, SHG will implement a capital improvement program, designed to improve, modernize and extend each building’s physical life, all of which will be completed, without displacing any of the existing residents. In instances where physical buildings have been too troubled to preserve, SHG has helped facilitate the construction of new buildings with long-term affordability commitments serving the same residents. Having utilized many different government-sponsored affordable housing programs, SHG has the expertise to structure preservation transactions that result in extended affordability commitments, much-improved apartments and buildings and, most importantly, extremely satisfied residents.
With affordable properties in seven states, SHG has a demonstrated ability to work with numerous federal and state government agencies and officials as well as other industry leaders to further SHG’s mission. Regardless of location, SHG seeks additional opportunities to preserve and improve affordable senior buildings across the country. If you have an affordable senior building that could benefit from a preservation transaction with SHG, please contact Steve.