The NHP Foundation: Affordable Housing Blueprint
Mission
T he NHP Foundation is a not-for-profit real estate organization dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities.
Vision
A future where communities flourish because attractive, sustainable housing options and life- enhancing services are ensured for income- challenged Americans.
THE NHP FOUNDATION’S (NHPF) mission is to preserve and produce service-enriched housing that people can afford. At NHPF we search for and implement creative solutions that act as a blueprint, providing generations to come with housing that is “more than a roof.” Today, NHPF has 57 properties in 15 states and the District of Columbia, housing over 45,000 residents. Residents in our communities are families and seniors—and we are dedicated to providing quality housing people can proudly live and thrive in—and feel part of a larger community. Through collective partnering with individuals and companies who share our goals, we have built a network of communities investing in opportunities and outcomes of residents’ lives, opening the door to brighter futures. We recently partnered with Spartanburg Housing Authority to redevelop and preserve Victoria Gardens. NHPF also acquired Cardinal Ridge Apartments, its first property in Kansas City, MO. We are also celebrating groundbreakings on two important faith-based affiliate, ground-up construction projects in Houston, TX, Temenos Place Apartments and The Citadel Apartments. NHPF is proud of several industry awards including recognition of our first single-family rental property in Baltimore, Maryland (Hollander Ridge) ; our annual Symposium via social justice honors for the video, “Unconventional Affordable Housing: Yes! In My Backyard” and others. Recent times have tried the resilience of residents and NHPF staff. When the pandemic emerged, our resident services subsidiary, Operation Pathways resolutely stepped up and immediately moved to protect vulnerable residents, providing more than 6,800 wellness checks throughout the pandemic, and food delivery and/or meals to over 5,300 residents more than 25,500 times. Our unique Affordable Housing Internship Program introduced more than two dozen young people to careers in preserving, creating, and managing affordable housing.
Values
NHPF seeks to promote greater diversity, inclusion, racial equity, and social justice in addition to its long- established mission of providing sustainable, service-enriched affordable housing. NHPF is committed to increasing access to opportunities for historically underrepresented individuals and
businesses in the development and
operation of affordable housing communities.
NHPF’s success fills us with confidence about what we can achieve in the future.
Our History of Success
SINCE OUR FOUNDING IN 1989, NHPF has realized extraordinary achievements in the preservation and creation of value-added affordable housing. As a not- for-profit organization, NHPF operates with a charitable mission and business-like financial discipline. Our track record from the beginning has led to the preservation of more than 100 multi-family properties containing over 25,000 affordable housing units. Building on that foundation, we currently serve nearly 45,000 residents in nearly 10,000 units of affordable housing, much of which has been made possible via $729 million in development funding leveraged using Low Income Housing Tax Credits (“LIHTC”). Advances since that time include an emphasis on expanding our portfolio via the preservation and rehabilitation of a vast array of different affordable housing options including:
selected by Baltimore City Department of Housing & Community Development (DHCD) to partner on—Park Heights in Baltimore, MD, a 17-acre neighborhood redevelopment, preservation deal. NHPF is also pleased to have developed internal capacity to manage construction rather than rely on third-party consultants. Our burgeoning Construction Division is responsible for both ground-up work and rehab projects. Operation Pathways, NHPF’s resident services subsidiary, its own 501(c) (3) not-for-profit corporation consistently increases and improves our on-site resident services. Through Family-Centered Coaching, Operation Pathways engages with, and assists, families experiencing poverty and other hardship, to problem-solve together. This year, nearly 6,000 residents have participated in one or more of its programs. Operation Pathways’ children’s academics are pre- and post-tested according to the Brigance Comprehensive Inventory of Basic Skills to demonstrate that nearly 100% of children participating in our summer camps in recent years showed no signs of summer learning loss in math and reading. Additional advances include implementation of an ambitious “greening” of our properties. Currently over 75% experience vast water and energy savings with the remainder in the works. We have also converted nearly 1,000 units to new, highly-insulated roofing systems and gone smoke-free in several of our buildings.
• SRO (Single Room Occupancy) Dwellings
• Single-family Rental Homes
• RAD (Rental Assistance Demonstration) for PRAC (Project Rental Assistance Contracts) Type of Senior Properties : The new HUD program to help owners of Section 202 properties convert existing PRAC to properties subsidized with Project-Based Vouchers (PBVs) or Project-Based Rental Assistance (PBRA) • PSH (Permanent Supportive Housing) and large scale preservation deals such as one NHPF was recently
Our Experience
OVER TIME, NHPF has earned a reputation for delivering affordable housing—shelter in the form of strong communities that are clean, safe, and green with solid accomplishments: Forward Thinking, creating several equity funds for the acquisition of properties to be redeveloped and preserved; Collaboration, proudly standing as one of 12 founding not-for-profits forming the Housing Partnership Equity Trust, an $80 million Private Real Estate Investment Trust for the acquisition and preservation of affordable housing; Expanding the Portfolio through “firsts,” including NHPF’s first single-family home acquisition, Hollander Ridge, in a high-opportunity neighborhood with many amenities matching those found in for-sale properties; Industry Leadership, producing five highly successful Symposia tackling critical affordable housing issues via panel discussions, presentations and opportunities for those from our industry as well as policy makers, advocates, healthcare leaders and others to engage and forge new relationships; Establishing equity through the built environment, NHPF’s RSI Task Force works to build partner and vendor teams through conscious, diverse choices, create housing that is a catalyst for fighting social and racial injustice and improving internal and external policies;
Solid Community Partnerships, offering, through The NHPF Affiliate Program, our development, financial, asset management, resident services, and fundraising support to local housing not-for-profits facing financial and organizational challenges. We also partner with state housing agencies, helping them preserve properties in their portfolios as well as develop land they own into new affordable housing; Measurable Results, producing and tracking outcome- based programs and services and continuously seeking the best results for our residents; Robust Presence, 57 properties located in Connecticut, District of Columbia, Florida, Illinois, Louisiana, Maryland, Massachusetts, Missouri, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia; Longevity and Performance, over three decades of sustainable, environmentally responsible affordable housing investment and development; solid portfolio performance and development track record; Entrepreneurial, business-oriented leadership, experienced and knowledgeable personnel and a Trustee Board with diverse backgrounds; and Exceeding Expectations, acquisition and refinancing portfolio property performance that continues to exceed original projections.
How We Can Work With You
Trustees
Ralph F. Boyd, Jr. Chair Glynna K. Christian Vice Chair Robert H. Abrams Richard F. Burns Sarah E. Feinberg Cherie Santos-Wuest Sheldon L. Schreiberg Charu Singh Frank L. Sullivan, Jr.
Grace Torres Adam Weers Staff
THROUGH OUR MANY SUCCESSFUL and enduring partnerships with municipalities, housing authorities, financial institutions, religious, and philanthropic organizations, and other like-minded entities, NHPF provides trust and reliability, key to sustaining positive relationships. We would like to get to know you and work together to achieve mutual goals. Here are some of the reasons to get to know NHPF. Expert, In-house Team of Professionals who evaluate and advise on successful investment decisions; led by Richard Burns, President & CEO, an experienced Portfolio Manager with fiduciary investing experience in value-add multifamily for institutional investors; Meaningful JV Credentials, through joint ventures with other mission-based builders and developers, we have established revolving lines of credit to provide equity for investments in workforce housing; Affiliate Program, our work with other affordable housing developer/owners, housing authorities, tenant associations, and other municipal and community organizations combine NHPF’s resources, manpower, expertise and financial acumen to renovate existing assets or develop new properties. Through the Affiliate Program, NHPF has acquired 16 properties totaling $415 million; Effective Resident Services, our Operation Pathways subsidiary was the first Certified Organization for Resident Engagement & Services (CORES) by the Stewards of Affordable Housing for the Future (SAHF) which recognizes organizations with “a robust commitment, capacity, and competency in providing resident services coordination in affordable rental housing;” Construction Value, NHPF has expanded to include in-house construction management dedicated to providing experts committed to turn-key construction on every project. Since 2009, NHPF has completed three new affordable housing properties and 32 LIHTC rehabilitations valued at over $1B and is on track to work on several more.
Richard F. Burns Chief Executive Officer Eric W. Price President Mansur Abdul-Malik Vice President Mecky Adnani Senior Vice President Scott L. Barkan Senior Vice President Neal T. Drobenare Senior Vice President Alla A. Eleon Chief Accounting Officer & Treasurer Patrick J. Fry Senior Vice President Carlos A. Gonzales Senior Vice President Stephen M. Green Executive Vice President & Chief Investment Officer Dawn Gutierrez Assistant Vice President John G. Hoffer Vice President Fred C. Mitchell Senior Vice President Ade Odina Vice President Tim B. Pryor Vice President C. Meade Rhoads, Jr. Vice President Jamie A. Smarr Senior Vice President Ian Sobel Vice President Thomas G. Vaccaro Senior Vice President & Secretary Kenneth D. White Vice President Joseph P. Wiedorfer Senior Vice President & Assistant Secretary
NEW YORK HEADQUARTERS 122 EAST 42ND STREET, SUITE 4900, NEW YORK, NY 10168 • 646.336.4940 WASHINGTON, DC 1090 VERMONT AVENUE, NW, SUITE 400, WASHINGTON, DC 20005 • 202.789.5300
CHICAGO 180 N. LASALLE, SUITE 3700, CHICAGO, IL 60601 • 312.216.5103 BALTIMORE 1501 ST. PAUL STREET, SUITE 128, BALTIMORE, MD 21202 nhpfoundation.org
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