AHEPA National Housing Corp. has received a $2.4 million federal grant to convert part of a 74-unit apartment complex on the northeast side of Indianapolis into assisted-living housing, the company announced Thursday morning.
The complex, at 7355 Shadeland Station Way, south of Interstate 69, is just one of six properties nationwide recognized by the U.S. Department of Housing and Urban Development as part of its Assisted Living Conversion Program.
The grant will enable Fishers-based AHEPA to convert 24 of the complex’s 74 units into assisted-living housing, AHEPA said. The project should be completed sometime next year.
Called 232 Apartments, the complex opened in 1985 as affordable senior housing.
AHEPA National Housing Corp. is part of the American Hellenic Educational Progressive Association, a not-for-profit founded in 1983. It develops HUD-subsidized Section 202 housing for low-income disabled seniors and has properties in 22 states.