Evergreen Real Estate Group, together with Lake County Residential Development Corp., the Lake County Center for Independent Living, Lake County United, and the Village recently celebrated the grand opening of Fairhaven Crossing Apartments, a 40-unit affordable rental community in the downtown.
“Fairhaven Crossing shows what can be achieved when various groups pool their talents and resources for the good of the greater community – one that’s built around the principle of inclusion,” said Village Administrator, John Lobaito. “The completion of the project ensures our neighbors will have access to quality housing that is both affordable and conducive to their needs while serving as a catalyst for future investment in the downtown core.”
Located at 407 E. Hawley St., Fairhaven Crossing is part of a broader initiative to reimagine downtown Mundelein as a walkable mixed-use district. The $13.5 million affordable housing project involved converting and expanding a vacant 1½- story brick building on the site – previously a light industrial building – into a three-story residential building. The redevelopment was partially funded using $5.6 million in low-income housing tax credit financing secured by Evergreen Real Estate Group.
The new community includes a mix of one-, two- and three-bedroom units, with affordable rents for households earning 60 percent or less of the area median income (AMI). The family-friendly three-bedroom units account for half of the floor plans, while 12 apartments were set aside for individuals with disabilities. Each unit includes a living/dining room and open kitchen with vinyl plank flooring and Energy Star-rated appliances. Residents will also have access to a variety of on-site amenities, including a laundry room, a community room with full kitchen, computer lab, bike storage, playground and landscaped courtyard areas.
In addition, Fairhaven Crossing offers convenient access to the Mundelein Metra station and several bus stops, as well as shops, restaurants and essential services in downtown Mundelein.
“Fairhaven Crossing is a shining example of how communities like Mundelein can reap social and economic benefits by making housing accessible to residents across all income levels,” said Larry Pusateri, development partner at Evergreen Real Estate Group. “The Evergreen team is proud and humbled to be part of downtown Mundelein’s ongoing transformation.”