Growing The Affiliate Program
THE NUMBER OF PARTNERSHIPS under The Affiliate Program grew in 2015. In just four years, the Affiliate Program has proven to be an effective way to create or preserve affordable housing through joint ventures with other not-for-profits or community based organizations, and housing finance agencies . We have seen that synergy and opportunities for growth are created when mission-aligned organizations collaborate to achieve affordable housing goals. Our 2015 activities are impressive. In Chicago’s East Garfield Park neighborhood, NHPF and the People’s Community Development Association of Chicago (PCDAC) partnered to build Harvest Homes, a $12 million low income tax credit project. In Washington, DC, NHPF partnered with both the Benning Heights Apartments and Parkchester Apartments Tenants Associations’ to rehabilitate and preserve as affordable 242 low income rental apartments. In Maryland, New York and Connecticut, NHPF is partnering with housing authorities to either build new affordable housing or to redevelop public housing under HUD’s Rental Assistance Demonstration (RAD) Program, representing more than $150 million of redevelopment activity in the nation’s long- neglected public housing stock. In addition to creating and preserving affordable housing, the NHPF Affiliate Program has a proven track record of capacity- building for our partners. The knowledge gained through the affiliation has provided them cost savings, increased housing expertise, better finances and improved management practices. In these ways, the Affiliate Program achieves more lasting impacts than just a one-off housing transaction. We are proud that Prudential Social Investments, recognizing the unique benefits of the Affiliate Program’s knowledge-sharing and partnering across the not-for-profit sector, has supported our initiative with a $2.5 million investment.
NHPF Fiscal Year 2015 Annual Report
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