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EverGreen Real Estate Development Corporation (EverGreen)

EverGreen’s mission is to remain ahead of the curve in recognizing and developing housing opportunities to serve the rental and homeowner population. Founded in 1995 by owner/developer Gregory McClenahan, EverGreen Real Estate Development Corporation (EverGreen) has engaged in a variety of real estate development projects serving the Upper Midwest, ranging from affordable housing to executive home sites.

A primary focus to date has been the development and management of affordable housing to alleviate the critical need for quality housing for moderate-to-low-income families and seniors in Minnesota and Iowa. We have combined quality construction and affordable rates in six communities serving families in Minnesota and Iowa, and six communities serving seniors in Iowa:

    Bluff Heights Apartments, Prior Lake, MN
    EverGreen Heights Townhomes, Shakopee, MN
    Marshview Townhomes, Savage, MN
    Prairie Village Townhomes, Blooming Prairie, MN
    River Bend Townhomes, Shakopee, MN

    The Rose of Ames, Ames, IA
    The Rose of Des Moines, Des Moines, IA
    The Rose of East Des Moines, Des Moines, IA
    The Rose of Waterloo, Waterloo, IA
    The Rose of Council Bluffs, Council Bluffs, IA
    The Rose of Dubuque, Dubuque, IA
    Cedar Pond Townhomes, Cedar Rapids, IA

EverGreen has been an innovator in many facets of development and has received recognition for its leadership in local projects, including:

  • We were the pioneer in first using HUD funds available through the Minnesota Housing Opportunity Program (MHOP) to partner with Scott County Housing Redevelopment Authority in a public/private housing project to replace demolished, blighted inner city public housing with new affordable residences in suburban communities. This initiative has enabled low- and moderate-income households to find quality housing at affordable prices in the SW Twin Cities Metro area.
  • We have collaborated with public and private, non-profit partners on several projects, including creation of a non-profit, childcare center adjacent to our EverGreen Heights Townhomes. In recognition for this development, EverGreen received the Minnesota Housing Finance Authority (MHFA) "Excellence in Development" Award in 1999 for its collaborative efforts.
  • EverGreen’s use of tax credit funding for senior assisted living represents another pioneering venture in combining conventional financial resources with optional assisted living services, an innovation in affordable housing that meets a critical need in our senior population. This approach has made assisted living more affordable for the more than 50% of Iowa’s seniors who previously could not afford the prevailing market-rate assisted living residences.
  • In recognition of its industry leadership in affordable assisted living, Evergreen/Gregory McClenahan was honored in 2012 with the annual "President's Award" by WNC & Associates, a national housing tax credit syndicator.

In addition to real estate development activities, EverGreen currently manages and markets over 600 rental units under a management contract or through cooperative ventures. Our experienced, professional staff continually explore ways to meet the ever-expanding challenges of managing and marketing rental housing.