Longtime Woodmont Crossing resident Nathan El Kebe echoed these sentiments: “My unit looks wonderful. Not only am I quite satisfied with the design and improvements, I also felt well cared for and respected during the process.” Added fellow resident Nancy Bogan, “The updates to our building are great and it’s hard to express the feeling we get from living somewhere so new and fresh, that we had a hand in creating.” Woodmont Crossing provides an ideal example of how NHPF’s commitment to investing according to ESG principles contributes to a positive return on investment while maintaining project sustainability, ethical standards and community development, and inclusive governance.
Environmental
Social
Governance
• NHPF installed state of the art HVAC systems, water heaters, energy star rated kitchen appliances, LED lighting, as well as new windows and doors • The installation of new equipment at the property resulted in more efficient energy usage and a reduction of resident utility bills
• Addition of 1,500 square feet to the community club house has allowed for expanded resident services programing and other community events • Extensive rehabilitation has improved quality of living conditions for existing residents, at no increase in rent • Substantial investment benefited local Community Based Enterprises (CBEs) involved in the rehabilitation, many of which were minority- and women-owned (MWOB)
• NHPF’s holistic approach to development combined with the TOPA process meant residents were integral to decision making throughout the rehabilitation process, further building trust between residents and NHPF
Conclusion Powerful partnerships are realized when everyone has a “hand in creating.” NHPF and Operation Pathways both recognize the strength that comes from collaboration with the residents of our communities. It is through this mutual respect that resident voices are heard and important housing goals can be met and exceeded. TOPA is an important tool of collaboration that will continue to provide housing opportunity for communities in need. Mission The 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. 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.
122 EAST 42ND STREET, SUITE 4900, NEW YORK, NY 10168 • 646.336.4940 1090 VERMONT AVENUE, NW, SUITE 400, WASHINGTON, DC 20005 • 202.789.5300 180 N. LASALLE, SUITE 3700, CHICAGO, IL 60601 • 312.216.5103 nhpfoundation.org
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