NHPF Quarterly Newsletters

Where You Live Matters

About The NHP Foundation Headquartered in New York City with offices in Washington, DC, and Chicago, IL, The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is 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. Through Family-Centered Coaching, NHPF’s subsidiary Operation Pathways engages with, and assists, families experiencing poverty and other hardship, to problem-solve together. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has 56 properties, including approximately 10,000 units, in 15 states and the District of Columbia.

Contents

The NHPF Quarterly: September 2023

The NHPF Quarterly: June 2023

The NHPF Quarterly: March 2023

The NHPF Quarterly: December 2022

The NHPF Quarterly: September 2022

The NHPF Quarterly: July 2022

The NHPF Quarterly: March 2022

The NHPF Quarterly: January 2022

The NHPF Quarterly: October 2021

The NHPF Quarterly: July 2021

The NHPF Quarterly: March 2021

The NHPF Quarterly: January 2021

The NHPF Quarterly: October 2020

The NHPF Quarterly: July 2020

The NHPF Quarterly: April 2020

The NHPF Quarterly September 2023

No (Summer) Rest for the Weary! This past quarter has been filled with exciting acquisition and development news from NHPF from the re-opening of Alexander House in Hagerstown, MD to NHPF’s first transaction in Austin, TX and first deal inked in Colorado. These developments will provide important housing opportunities for residents. Join hundreds of your peers and colleagues at The NHPF 2023 Symposium: The Future of Affordable Housing: Interconnecting Construction, Demographics, Government, and Innovation, Thursday, October 19 at Union Station in Washington, DC. Always a can’t-miss event, sign up to sponsor, contribute, and attend!

NHPF Announces Re-Opening of Alexander House 95 Service-Enriched Apartments in Hagerstown, MD

NHPF rededicated the Alexander House, a low-income senior apartment community, in Hagerstown, MD. The ribbon- cutting featured Hagerstown Mayor Takesha Martinez in celebration of the $30M historic rehabilitation.

NHPF renovated the entire building including replacing all the windows and damaged doors, cabinets, appliances, and bathtubs. NHPF historically renovated Alexander House’s exterior by cleaning all the masonry and repairing any damage. NHPF improved the building’s access by converting six units into UFAS compliant apartments, two units into hearing and visually impaired apartments, and reconfigured the laundry room, common areas, and entrances so they are ADA compliant. The organization also upgraded the retail space and welcomed two new tenants: Menysa Events (specializes in luxe balloon design and event design décor) and Create a Candle (provides patrons a unique and relaxing experience creating custom candles). NHPF also signed a long-term lease with Authentic Community Theater, Inc. (ACT) for the former television space in the back of the Alexander House building. ACT provides performing arts education to students in grades 1–12 as well as a variety of entertainment options for the community. According to Robbie Soto, Director, ACT, “This partnership ensures that our a community-based non-profit has room to grow in downtown Hagerstown, promoting the revitalization of the Arts & Entertainment district in conjunction with their performance venue, the ACT Black Box Studio.” NHPF dramatically improved Alexander House’s energy performance with new energy-efficient, split-system heating and cooling, ducted bathroom exhaust, and fresh air supplies. NHPF replaced all lights with energy efficient lighting, appliances with Energy Star appliances, and plumbing fixtures with water sense faucets. The renovation was awarded the Enterprise Green Communities Certification for its sustainable upgrades.

THE NHPF QUARTERLY SEPTEMBER 2023

The rehabilitation was made possible by $12.8M of equity and $9.5M of construction debt from Enterprise Community Capital, $7.5M FHA insured loan from AGM Financial, $6M loan from the State of MD Community Development

According to Robbie Soto, Director, ACT, “This partnership ensures that our a community-based non-profit has room to grow in downtown Hagerstown, promoting the revitalization of the Arts & Entertainment district in conjunction with their performance venue, the ACT Black Box Studio.” NHPF dramatically improved Alexander House’s energy performance with new energy-efficient, split-system heating and cooling, ducted bathroom exhaust, and fresh air supplies. NHPF replaced all lights with energy efficient lighting, appliances with Energy Star appliances, and plumbing fixtures with water sense faucets. The renovation was awarded the Enterprise Green Communities Certification for its sustainable upgrades. The rehabilitation was made possible by $12.8M of equity and $9.5M of construction debt from Enterprise Community Capital, $7.5M FHA insured loan from AGM Financial, $6M loan from the State of MD Community Development Administration, $500K from the Federal Home Loan Bank of Atlanta, and $500K of construction debt from the Enterprise Community Loan Fund, Inc. “Preserving the affordable homes at Alexander House required a shared vision and hard work by many public and private entities brought together by NHPF,” said Ethan Handelman, Deputy Assistant Secretary for the Office of Multifamily Housing, HUD. “The residents in their new service-enriched homes in this historic building are part of the true spirit of community development.“ Operation Pathways, NHPF’s resident services subsidiary, will provide onsite programming for the residents of Alexander House. “Restoring this beautiful historic community asset, providing vital onsite resident services, and providing affordable retail opportunities to small, local companies represents a great accomplishment for NHPF and our partners,” said Scott Barkan, NHPF Sr. Vice President and Alexander House lead developer. Alexander House was built in 1928 as a hotel in the Renaissance Revival style. It was renovated in 1978 to accommodate 95 units for low-income disabled residents and senior residents aged 62 and over. The 10-story building also includes over 20,000 square feet of commercial and community space.

NHPF Transaction News Seabrook Square, Austin, TX 204 New Rental Apartments for Households Earning At or Below 60% AMI NHPF announced that it has closed on the construction financing of Seabrook Square in Austin, TX. This new construction marks NHPF’s first foray into Austin and is a partnership with Austin Housing Finance Corporation (AHFC) and Capital A Housing. Seabrook Square is financed by a $40M tax-exempt Bond issued by the City of Austin, $3.4M Citibank construction bridge debt, $32.3 million in 4% LIHTC Equity syndicated by Boston Financial, and $13.5M in Austin Housing Finance Corporation subordinate debt financing. On-site parking will be available along with approximately 3,000 square feet of commercial space that will be the home of Raasin in the Sun (artist incubator) and Origin Studio House (a black-owned café). The development will include a large public plaza, wrapped by 10 live/work units, locally curated murals,

6 THE NHPF QUARTERLY SEPTEMBER 2023

also includes over 20,000 square feet of commercial and community space.

NHPF 7th Annual Symposium: Secure your Seat Today Excitement is building for this year’s Symposium, The Future of Affordable Housing: Interconnecting Construction, Demographics, Government, and Innovation, We hope you can join us there! We are pleased to announce the addition of Cindy Frewen, nationally recognized futurist and architect, who will discuss factors shaping the affordable housing of the future and actions we should all be taking. Cindy Frewen joins a program that also includes special guest speaker Ethan Handelman, Deputy Assistant Secretary for the Office of Multifamily Housing Programs at HUD, and keynote address from Wemimo Abbey, Co-Founder & Co-CEO of Esusu, the leading financial technology company helping individuals save money and build credit as well as forward-thinking presentations by the following important voices in the future of affordable housing: Philip Bump, a National Columnist for The Washington Post and author of The Aftermath: The Last Days of the Baby Boom and the Future of Power in America. Bump’s expertise in analyzing and deciphering demographics and their place in future societal and policy decisions is unparalleled. Roger Krulak, CEO, FullStack Modular, a construction leader and sought after industry expert at the forefront of using modular materials in affordable housing and other building. Garet Marr, Managing Director, Franklin Street Insurance Services. Any conversation about the future of affordable housing must include how such housing will be insured and protected. Franklin Street’s forecasting and research knowledge defines industry “best practices.” Donahue Peebles III, Chairman, Legacy Real Estate Development, represents the next generation of affordable housing innovation, advancing projects through the development process via strategic partnerships, management, and community engagement.

THE NHPF QUARTERLY SEPTEMBER 2023 challenges. The Mountain Resort region of Colorado is home to some of the nation’s top ski and recreational areas, notably Vail and Aspen, yet is notoriously short on NHPF’s Enters Colorado Affordable Workforce Housing Market with Three Deals in the Mountain Resort Region Ground-up Construction Aims to Build Nearly 350+ units of Much-needed Affordable Housing NHPF is expanding its footprint west with development deals in the works in three different mountain resort area towns which present unique opportunities and On-site parking will be available along with approximately 3,000 square feet of commercial space that will be the home of Raasin in the Sun (artist incubator) and Origin Studio House (a black-owned café). The development will include a large public plaza, wrapped by 10 live/work units, locally curated murals, passive/active recreation spaces, and community center for residents. Construction is scheduled to commence September 2023. The project in the East MLK neighborhood focuses on providing maximum affordability for both residents and small, local businesses to foster an inclusive community, and to support the health and well-being of the J.J. Seabrook community through green space, ecosystem services, active transportation linkages, and public art. Out of the 204 units, 10 units will serve as live-work residence-studios for Austin artists. All units will be restricted to 60% MFI or below. NHPF Transaction News Seabrook Square, Austin, TX 204 New Rental Apartments for Households Earning At or Below 60% AMI NHPF announced that it has closed on the construction financing of Seabrook Square in Austin, TX. This new construction marks NHPF’s first foray into Austin and is a partnership with Austin Housing Finance Corporation (AHFC) and Capital A Housing. Seabrook Square is financed by a $40M tax-exempt Bond issued by the City of Austin, $3.4M Citibank construction bridge debt, $32.3 million in 4% LIHTC Equity syndicated by Boston Financial, and $13.5M in Austin Housing Finance Corporation subordinate debt financing.

Housing Market with Three Deals in the Mountain Resort Region Ground-up Construction Aims to Build Nearly 350+ units of Much-needed Affordable Housing NHPF is expanding its footprint west with development deals in the works in three different mountain resort area towns which present unique opportunities and challenges. The Mountain Resort region of Colorado is home to some of the nation’s top ski and recreational areas, notably Vail and Aspen, yet is notoriously short on housing inventory, particularly workforce housing affordable to the thousands of employees who make up a labor pool including police personnel, teachers, restaurant staffers, and childcare workers. In an area where close to 50% of all housing is vacation homes, what is available to rent to those on fixed incomes is priced out of reach for most. At the same time, the high altitude and prolonged freezing temperatures present construction cost and labor challenges. Add to the equation the scarcity of available land to build and the current anti-density zoning, and the area finds itself in desperate need of quality housing of all kinds, according to Neal Drobenare, Sr. VP at NHPF and lead developer for the Colorado properties, who added that NHPF is up to the task, having made a name for itself in undertaking and completing difficult housing challenges . challenges. Add to the equation the scarcity of available land to build and the current anti-density zoning, and the area finds itself in desperate need of quality housing of all kinds, according to Neal Drobenare, Sr. VP at NHPF and lead developer for the Colorado properties, who added that NHPF is up to the task, having made a name for itself in undertaking and completing difficult housing challenges . NHPF has committed resources to three affordable housing endeavors now in pre-development to bring a potential total of 350+ rental apartments, townhouses, and duplexes to the region, some of which may end up as homes for sale. 101 Main in Frisco, Colorado Frisco, a town at the geographical entry point to the resort destinations, has had a long and unfortunate development history, particularly with for-profit entities. This area, well known as a hotbed of vehicular homelessness , is a high-need location with a parcel of land available currently featuring an office building that houses several mental health care providers. In an area that is also known for a high percentage of people in need of mental health services, a perfect storm is brewing. NHPF has agreed to construct 45–50 workforce housing on the site and is exploring providing office space on the ground floor of the new building for these providers and other businesses. NHPF is workforce housing on the site and is exploring providing office space on the ground floor of the new building for these providers and other businesses. NHPF is exploring modular components for the construction and the building will also provide an easement offering direct access to Ten Mile Creek behind the property for all to enjoy. exploring modular components for the construction and the building will also provide an easement offering direct access to Ten Mile Creek behind the property for all to enjoy. Galena Street in Frisco, Colorado The Town of Frisco has also entered into a Development Agreement with NHPF that will enable it to develop workforce housing on another Town-owned site. At 602 Galena, NHPF plans to construct up to 50 units of workforce housing and office space for the Colorado Workforce Office. Galena, NHPF plans to construct up to 50 units of workforce housing and office space for the Colorado Workforce Office. Highway 40 Workforce Housing Project in Town of Granby, Colorado An area that is rapidly growing, the Town of Granby has Highway 40 Workforce Housing Project in Town of Granby, Colorado An area that is rapidly growing, the Town of Granby has roughly 30 acres off of its main highway (40) on which to Resort Region Ground-up Construction Aims to Build Nearly 350+ units of Much-needed Affordable Housing NHPF is expanding its footprint west with development deals in the works in three different mountain resort area towns which present unique opportunities and challenges. The Mountain Resort region of Colorado is home to some of the nation’s top ski and recreational areas, notably Vail and Aspen, yet is notoriously short on housing inventory, particularly workforce housing affordable to the thousands of employees who make up a labor pool including police personnel, teachers, restaurant staffers, and childcare workers. In an area where close to 50% of all housing is vacation homes, what is available to rent to those on fixed incomes is priced out of reach for most. At the same time, the high altitude and prolonged freezing temperatures present construction cost and labor NHPF has committed resources to three affordable housing endeavors now in pre-development to bring a potential total of 350+ rental apartments, townhouses, and duplexes to the region, some of which may end up as homes for sale. 101 Main in Frisco, Colorado Frisco, a town at the geographical entry point to the resort destinations, has had a long and unfortunate development history, particularly with for-profit entities. This area, well known as a hotbed of vehicular homelessness , is a high-need location with a parcel of land available currently featuring an office building that houses several mental health care providers. In an area that is also known for a high percentage of people in need of mental health services, a perfect storm is brewing. NHPF has agreed to construct 45–50 Galena Street in Frisco, Colorado The Town of Frisco has also entered into a Development Agreement with NHPF that will enable it to develop workforce housing on another Town-owned site. At 602

be insured and protected. Franklin Street’s forecasting and research knowledge defines industry “best practices.” Donahue Peebles III, Chairman, Legacy Real Estate Development, represents the next generation of affordable housing innovation, advancing projects through the development process via strategic partnerships, management, and community engagement. Donahue Peebles III, Chairman, Legacy Real Estate Development, represents the next generation of affordable housing innovation, advancing projects through the development process via strategic partnerships, management, and community engagement. be insured and protected. Franklin Street’s forecasting and research knowledge defines industry “best practices.”

Operation Pathways Appeal Operation Pathways Appeal

At the start of a new school year, Operation Pathways reflects on the culmination of an impactful season of Summer Camps, Summer Internships, and Back to School events. For the residents of NHPF affordable housing communities, summer can be overshadowed by the uncertainty and stress of not being able to afford out- of-school time care and opportunities for emotional, physical, and educational growth. Operation Pathways ran summer camps across the country and offered the Affordable Housing & Real Estate Summer Internship Program to twenty-one youth across eleven properties.These critical programs cannot be offered without the support of this community. We invite you to donate to Operation Pathways to support this important work. Operation Pathways ran summer camps across the country and offered the Affordable Housing & Real Estate Summer Internship Program to twenty-one youth across eleven properties.These critical programs cannot be offered without the support of this community. We invite you to donate to Operation Pathways to support this important work. Joyce Kouami, a sophomore at Montclair State University and resident of Washington-Dodd, an NHPF property in Orange, NJ participated in the internship program this summer. Her final project proposed to bring a small independent theater to her community. Ms. Kouami shared: “My experience with the Summer Internship program exposed me to new and different ways to bring positive change to my community through the built environment,” and “I hope to incorporate what I’ve learned into my college education and find ways to use both in my career going forward.” “My experience with the Summer Internship program exposed me to new and different ways to bring positive change to my community through the built environment,” and “I hope to incorporate what I’ve learned into my college education and find ways to use both in my career going forward.” For 25 years, Operation Pathways has provided customized on-site programs and services in NHPF’s affordable housing communities. Our mission to transform affordable housing communities is not possible without the support of generous donors like yourself. affordable housing communities. Our mission to transform affordable housing communities is not possible without the support of generous donors like yourself. Your donation will enable us to continue providing critical Your donation will enable us to continue providing critical At the start of a new school year, Operation Pathways reflects on the culmination of an impactful season of Summer Camps, Summer Internships, and Back to School events. For the residents of NHPF affordable housing communities, summer can be overshadowed by the uncertainty and stress of not being able to afford out- of-school time care and opportunities for emotional, physical, and educational growth. Joyce Kouami, a sophomore at Montclair State University and resident of Washington-Dodd, an NHPF property in Orange, NJ participated in the internship program this summer. Her final project proposed to bring a small independent theater to her community. Ms. Kouami shared: For 25 years, Operation Pathways has provided customized on-site programs and services in NHPF’s

8 THE NHPF QUARTERLY SEPTEMBER 2023

access to Ten Mile Creek behind the property for all to enjoy. Galena Street in Frisco, Colorado The Town of Frisco has also entered into a Development Agreement with NHPF that will enable it to develop workforce housing on another Town-owned site. At 602 Galena Street in Frisco, Colorado The Town of Frisco has also entered into a Development Galena Street in Frisco, Colorado The Town of Frisco has also entered into a Development Agreement with NHPF that will enable it to develop workforce housing on another Town-owned site. At 602 Galena, NHPF plans to construct up to 50 units of workforce housing and office space for the Colorado Workforce Office. Agreement with NHPF that will enable it to develop workforce housing on another Town-owned site. At 602 Galena, NHPF plans to construct up to 50 units of workforce housing and office space for the Colorado Workforce Office. Highway 40 Workforce Housing Project in Town of Granby, Colorado An area that is rapidly growing, the Town of Granby has roughly 30 acres off of its main highway (40) on which to build workforce housing. NHPF has been selected as the master developer by the Town in partnership with Summit Homes Construction, a local developer and homebuilder. Under the agreement, NHPF will construct 258 units of which 100 will be rental apartments, and 158 will be a mix of townhouses, single family homes, and duplexes for sale. The five-phase master community will provide jobs and revenue to the area for many years to come. Highway 40 Workforce Housing Project in Town of Granby, Colorado An area that is rapidly growing, the Town of Granby has roughly 30 acres off of its main highway (40) on which to build workforce housing. NHPF has been selected as the master developer by the Town in partnership with Summit Homes Construction, a local developer and homebuilder. Under the agreement, NHPF will construct 258 units of which 100 will be rental apartments, and 158 will be a mix of townhouses, single family homes, and duplexes for sale. The five-phase master community will provide jobs and revenue to the area for many years to come. NHPF envisions a 2024 start for each project. An area that is rapidly growing, the Town of Granby has roughly 30 acres off of its main highway (40) on which to build workforce housing. NHPF has been selected as the master developer by the Town in partnership with Summit Homes Construction, a local developer and homebuilder. Under the agreement, NHPF will construct 258 units of which 100 will be rental apartments, and 158 will be a mix of townhouses, single family homes, and duplexes for sale. The five-phase master community will provide jobs and revenue to the area for many years to come. NHPF envisions a 2024 start for each project. NHPF envisions a 2024 start for each project. the building will also provide an easement offering direct access to Ten Mile Creek behind the property for all to enjoy. Galena, NHPF plans to construct up to 50 units of workforce housing and office space for the Colorado Workforce Office. Highway 40 Workforce Housing Project in Town of Granby, Colorado

program exposed me to new and different ways to bring positive change to my community through the built environment,” and “I hope to incorporate what I’ve learned into my college education and find ways to use both in my career going forward.” built environment,” and “I hope to incorporate what I’ve learned into my college education and find ways to use both in my career going forward.” For 25 years, Operation Pathways has provided customized on-site programs and services in NHPF’s affordable housing communities. Our mission to transform affordable housing communities is not possible without the support of generous donors like yourself. For 25 years, Operation Pathways has provided customized on-site programs and services in NHPF’s affordable housing communities. Our mission to transform affordable housing communities is not possible without the support of generous donors like yourself. Your donation will enable us to continue providing critical support to those in need. Whether it’s providing internship programs, rental assistance, or offering education and support services, your support makes a significant difference in the lives of residents. Please consider donating today to support Operation Pathways Your donation will enable us to continue providing critical support to those in need. Whether it’s providing internship programs, rental assistance, or offering education and support services, your support makes a significant difference in the lives of residents. Please consider donating today to support Operation Pathways and the residents of NHPF. With your help, we can continue to make affordable housing a reality for everyone. and the residents of NHPF. With your help, we can continue to make affordable housing a reality for everyone. and the residents of NHPF. With your help, we can continue to make affordable housing a reality for everyone. Your donation will enable us to continue providing critical support to those in need. Whether it’s providing internship programs, rental assistance, or offering education and support services, your support makes a significant difference in the lives of residents. Please consider donating today to support Operation Pathways For 25 years, Operation Pathways has provided customized on-site programs and services in NHPF’s affordable housing communities. Our mission to transform affordable housing communities is not possible without the support of generous donors like yourself. Donate to Operation Pathways “My experience with the Summer Internship program exposed me to new and different ways to bring positive change to my community through the built environment,” and “I hope to incorporate what I’ve learned into my college education and find ways to use both in my career going forward.”

Donate to Operation Pathways Donate to Operation Pathways

Our Top Picks for the Third Quarter Stay on top of issues affecting affordable housing and social justice topics via these interesting choices! 1. Inside Game/Outside Game: Winning Strategies for Saving Urban America by David Rusk This is a must-read if you are in the housing industry (or plan on being in the industry) and passionate about supporting regional housing policies and ensuring all new developments have their fair share of low and moderate income housing. 2. National Public Housing Museum Who knew? Get your history here in Chicago where the only cultural institution devoted to telling the story of public housing in the United States is located. Its mission is to preserve, promote, and propel the right of all people to a place where they can live and prosper—a place to call home. 1. Inside Game/Outside Game: Winning Strategies for Saving Urban America by David Rusk This is a must-read if you are in the housing industry (or plan on being in the industry) and passionate about supporting regional housing policies and ensuring all new developments have their fair share of low and moderate income housing. 2. National Public Housing Museum Who knew? Get your history here in Chicago where the only cultural institution devoted to telling the story of public housing in the United States is located. Its mission is to preserve, promote, and propel the right of all people to a place where they can live and prosper—a place to call home. 3. Demon Copperhead Pulitzer and Women’s Prize-winning Demon Copperhead by Barbara Kingsolver is a solid takedown of America’s structural poverty and drugs crisis. 3. The Heat will Kill you First Acclaimed journalist Jeff Goodell’s investigation exposes “through stellar reporting, artful storytelling and fascinating scientific explanations” an explosive new understanding of heat and the impact that rising temperatures will have on our lives and on our planet. 3. Demon Copperhead Pulitzer and Women’s Prize-winning Demon Copperhead by Barbara Kingsolver is a solid takedown of America’s structural poverty and drugs crisis. 3. Demon Copperhead Pulitzer and Women’s Prize-winning Demon Copperhead by Barbara Kingsolver is a solid takedown of America’s structural poverty and drugs crisis. 2. National Public Housing Museum Who knew? Get your history here in Chicago where the only cultural institution devoted to telling the story of public housing in the United States is located. Its mission is to preserve, promote, and propel the right of all people to a place where they can live and prosper—a place to call home. 3. The Heat will Kill you First Acclaimed journalist Jeff Goodell’s investigation exposes “through stellar reporting, artful storytelling and fascinating scientific explanations” an explosive new understanding of heat and the impact that rising temperatures will have on our lives and on our planet. Having trouble viewing this email? 3. The Heat will Kill you First Acclaimed journalist Jeff Goodell’s investigation exposes “through stellar reporting, artful storytelling and fascinating scientific explanations” an explosive new understanding of heat and the impact that rising temperatures will have on our lives and on our planet. Our Top Picks for the Third Quarter Stay on top of issues affecting affordable housing and social justice topics via these interesting choices! 1. Inside Game/Outside Game: Winning Strategies for Saving Urban America by David Rusk This is a must-read if you are in the housing industry (or plan on being in the industry) and passionate about supporting regional housing policies and ensuring all new developments have their fair share of low and moderate income housing. Our Top Picks for the Third Quarter Stay on top of issues affecting affordable housing and social justice topics via these interesting choices!

Having trouble viewing this email? Having trouble viewing this email?

THE NHPF QUARTERLY SEPTEMBER 2023

The NHPF Quarterly June 2023

News From a Productive 2nd Quarter NHPF sprung into Q2 with a flurry of special events, acquisitions, and awards. The time period also marks the halfway point to our annual Symposium.

Change Happens CDC and NHPF Open Doors to The Citadel on Elgin Affordable Housing Property is NHPF’s Fifth in Houston

“Do dreams come true?”asked Rev. Leslie Smith II, the founder of Change Happens CDC, which developed the project in partnership with the nonprofit NHP Foundation. “Are visions real? Absolutely. Absolutely.”

These words kicked off the joyous celebration for the Ribbon-cutting of The Citadel on Elgin, NHPF’s newest development in Houston’s historic 3rd Ward, 74 apartments for low income seniors.

As Mayor Sylvester Turner put it, “Third Ward is one of Houston’s oldest and most distinct neighborhoods and the city welcomes this beautiful property to the community, and we are proud to be a partner. It furthers the goal of adding 7,000 new affordable apartment homes in Houston by the end of 2023.”

NHPF’s 7th Annual Symposium Excitement is building for this year’s Symposium, The Future of Affordable Housing: Interconnecting

NHPF Transaction News 17 Mississippi NHPF opened the doors to its thirteenth affordable

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welcomes this beautiful property to the community, and we are proud to be a partner. It furthers the goal of adding 7,000 new affordable apartment homes in Houston by the end of 2023.”

NHPF’s 7th Annual Symposium Excitement is building for this year’s Symposium, The Future of Affordable Housing: Interconnecting Construction, Demographics, Government, and Innovation, We hope you can join us there! We are pleased to announce the addition of Cindy Frewen, nationally recognized futurist and architect who will discuss factors shaping the affordable housing of the future and actions we should all be taking. Cindy Frewen joins a program that also includes a keynote address from Wemimo Abbey, Co-Founder & Co-CEO of Esusu, the leading financial technology company helping individuals save money and build credit as well as forward-thinking presentations by the following important voices in the future of affordable housing: Cindy Frewen joins a program that also includes a keynote address from Wemimo Abbey, Co-Founder & Co-CEO of Esusu, the leading financial technology company helping individuals save money and build credit as well as forward-thinking presentations by the following important voices in the future of affordable housing: Philip Bump, a National Columnist for The Washington Post and author of The Aftermath: The Last Days of the Baby Boom and the Future of Power in America. Bump’s expertise in analyzing and deciphering demographics and their place in future societal and policy decisions is unparalleled. Roger Krulak, CEO, FullStack Modular, a construction leader and sought after industry expert at the forefront of using modular materials in affordable housing. Roger Krulak, CEO, FullStack Modular, a construction leader and sought after industry expert at the forefront of using modular materials in affordable housing. Garet Marr, Managing Director, Franklin Street Insurance Services. Any conversation about the future of affordable housing must include how such housing will be insured and protected. Franklin Street’s forecasting and research knowledge defines industry “best practices.” Donahue Peebles III, Chairman, Legacy Real Estate Development, represents the next generation of affordable housing innovation, advancing projects through the development process via strategic partnerships, management, and community engagement. Donahue Peebles III, Chairman, Legacy Real Estate Development, represents the next generation of affordable housing innovation, advancing projects through the development process via strategic partnerships, management, and community engagement. Philip Bump, a National Columnist for The Washington Post and author of The Aftermath: The Last Days of the Baby Boom and the Future of Power in America. Bump’s expertise in analyzing and deciphering demographics and their place in future societal and policy decisions is unparalleled. NHPF’s 7th Annual Symposium Excitement is building for this year’s Symposium, The Future of Affordable Housing: Interconnecting Construction, Demographics, Government, and Innovation, We hope you can join us there! We are pleased to announce the addition of Cindy Frewen, nationally recognized futurist and architect who will discuss factors shaping the affordable housing of the future and actions we should all be taking. Garet Marr, Managing Director, Franklin Street Insurance Services. Any conversation about the future of affordable housing must include how such housing will be insured and protected. Franklin Street’s forecasting and research knowledge defines industry “best practices.”

NHPF Transaction News 17 Mississippi NHPF Transaction News 17 Mississippi NHPF opened the doors to its thirteenth affordable housing development in the District June 14, 17 Mississippi Apartments, with a celebration including community members, District housing officials, and an exhibit of local art. Funding for the $22.9M development included $9.1M from DC Department of Housing and Community Development’s (DC DHCD) Housing Production Trust Fund, with Citi Community Capital providing $4.3M in permanent debt, and $8.8M in 4% Low Income Housing Tax Credits (LIHTC) provided by WNC & Associates, Inc. 17 Mississippi offers a mix of studios, one bedroom, and three-bedroom apartments to families and individuals with demonstrated need. Nine of the 41 apartments will provide permanent supportive housing for people who are experiencing homelessness or are in need of mental health support. NHPF opened the doors to its thirteenth affordable housing development in the District June 14, 17 Mississippi Apartments, with a celebration including community members, District housing officials, and an exhibit of local art. Funding for the $22.9M development included $9.1M from DC Department of Housing and Community Development’s (DC DHCD) Housing Production Trust Fund, with Citi Community Capital providing $4.3M in permanent debt, and $8.8M in 4% Low Income Housing Tax Credits (LIHTC) provided by WNC & Associates, Inc. 17 Mississippi offers a mix of studios, one bedroom, and three-bedroom apartments to families and individuals with demonstrated need. Nine of the 41 apartments will provide permanent supportive housing for people who are experiencing homelessness or are in need of mental health support. Alexander House NHPF’s Hagerstown, MD property is a rehab of a hotel build in 1928 in the Renaissance Revival style. The Alexander House NHPF’s Hagerstown, MD property is a rehab of a hotel build in 1928 in the Renaissance Revival style. The property offers 68 studio and 27 one-bedroom subsidized housing for seniors and resident with disabilities who are income-qualified. The beautiful building was completed in May and is now 100% rented. The Bobbi With our partner Embolden Real Estate, LLC , NHPF purchased an interest in the managing member of 2151 The Bobbi With our partner Embolden Real Estate, LLC , NHPF purchased an interest in the managing member of 2151 California Street NW, which will be known as “The Bobbi,” a 23-unit complex built in 1920 in the Kalorama neighborhood of DC. The redevelopment plan calls for a substantial renovation to this TOPA transaction in a high- opportunity area with little to no affordable housing, that will also provide coveted 3-bedroom units. NHPF is excited to be working with Embolden, owned by Ronnie Slamin. This is Emboldens’ first LIHTC transaction and Slamin will be working closely with the development team to complete the rehabilitation of the property. This will also provide coveted 3-bedroom units. NHPF is excited to be working with Embolden, owned by Ronnie Slamin. This is Emboldens’ first LIHTC transaction and Slamin will be working closely with the development team to complete the rehabilitation of the property. This is an opportunity for NHPF to provide technical assistance to a young minority-owned development company and create long-term affordability in the Kalorama neighborhood. property offers 68 studio and 27 one-bedroom subsidized housing for seniors and resident with disabilities who are income-qualified. The beautiful building was completed in May and is now 100% rented. California Street NW, which will be known as “The Bobbi,” a 23-unit complex built in 1920 in the Kalorama neighborhood of DC. The redevelopment plan calls for a substantial renovation to this TOPA transaction in a high- opportunity area with little to no affordable housing, that is an opportunity for NHPF to provide technical assistance to a young minority-owned development company and create long-term affordability in the Kalorama neighborhood.

THE NHPF QUARTERLY JUNE 2023

Our Top 3 Picks for the Second Quarter Stay on top of issues affecting affordable housing and social justice topics via these interesting choices!

1. Paved Paradise by Henry Grabar So much more than an inconvenience, parking in the US is the hidden force that shapes everything around us: It’s fueling the affordable housing crisis, worsening flooding, and driving us nuts.

2. Auchtoon Catch cartoonist John Auchtoon’s socially relevant (and funny) art like this piece which touches on the current generational push/pull regarding affordable housing.

3. Unzipped: An Autopsy of American Inequality A new documentary from director Colin K. Gray and producer Lucy Liu, featuring original music from Run the Jewels, depicts two years in the struggle over who gets to call Venice home and the ripple effects of poverty on the community.

12 THE NHPF QUARTERLY JUNE 2023

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The NHPF Quarterly March 2023

A Very Busy 1st Quarter NHPF kicked off 2023 with some impressive acquisition, development and event news. We also made important staff additions to increase the work done by our resident services subsidiary, Operation Pathways. We are also pleased to announce the 7th Annual NHPF Symposium. Read all about it!

In February NHPF, in partnership with Magnificat House, Inc., providers of housing, food and mental health programs for those without resources, began construction on RoseMary’s Place, a $45 million affordable housing development that will create 149 affordable rental apartments for those experiencing homelessness in Houston. The groundbreaking event, attended by notables including Councilwoman Carolyn Evans-Shabbaz, Director of Houston's Housing and Community Development Department; Keith W. Bynam; and Mayor Pro Tem Dave Martin showcased how well public and private partnerships can work together to build the kind of supportive housing needed in Houston and other cities across the country.

NHPF was named 2023 Bankrate Visionary winner for Best Nonprofit for Affordable Housing, the first such award in this category of the Bankrate honors.

Operation Pathways Names Director of Resource Development Operation Pathways, a subsidiary of The NHP

NHPF Transaction News Virginia Housing and City of Falls Church Affordable Homeownership Program

THE NHPF QUARTERLY MARCH 2023

in this category of the Bankrate honors.

Operation Pathways Names Director of Resource Development Operation Pathways, a subsidiary of The NHP Foundation, is pleased to announce that it has named Rebecca Ely, Director of Resource Development, responsible for overall development and implementation of all funding initiatives of Operation Pathways, CORES- certified providers of onsite resident services. Ms. Ely has extensive management and fundraising experience in the non-profit sector and a strong record of success in raising funds through annual funds, grants, corporate sponsorships, and major gifts. “Rebecca brings the experience and drive necessary to ensure that Operation Pathways continues to provide the robust onsite services that residents of our properties rely upon,” said Ken White, Vice President, Operation Pathways. “Her track record in identifying, cultivating and obtaining funding, through a combination of established and innovative approaches, will help us reach our goals.” Most recently Ms. Ely served as Vice President of Institutional Advancement for Jubilee Housing where, over a five-year tenure, she elevated the organization’s brand and profile, launched a signature event – Raise the Roof, increased individual donor giving, and raised a combined $13M for impact investment funds to acquire new properties. Ms. Ely obtained an MBA in Human Services from Brandeis’ Heller School of Social Policy and Management as well as a BA in Economics from the University of Mary Washington.

NHPF Transaction News Virginia Housing and City of Falls Church Affordable Homeownership Program The City of Falls Church has launched its Affordable Homeownership Program (CFCAHP), which will make $3.8 million available to support affordable homeownership. CFCAHP is being directly managed by The NHP Foundation (NHPF) with support from the City's Housing and Human Services Department. The City has received $3.4 million from Virginia Housing’s Resources Enabling Affordable Community Housing (REACH) program and has provided a $400,000 match, for a total budget of $3.8 million to provide affordable homeownership opportunities to employees and residents of the City. To advertise this opportunity, a new website, www.FallsChurchAHP.org , was recently launched to reach interested and eligible buyers. Blue Mountain Apartments NHPF is completing a $65M renovation of 217 units at the Blue Mountain Apartments, which are contained in 19 buildings on scattered sites around the Elm Hill Avenue neighborhood in Roxbury, MA. The affordable housing community was originally built in the early 1900s and was last substantially rehabilitated in the 1980s. The buildings are included in the Massachusetts Historical Commission’s Historic Places inventory. The Residences at Pine Knoll Construction is complete on Princess Anne townhouses, in Princess Anne, MD. In keeping with our other recent acquisitions, Princess Anne is an energy-efficient property in compliance with Enterprise Green Standards, and the residents of the 120 townhome property will also benefit from resident services via NHPF’s subsidiary, Operation Pathways.

14 THE NHPF QUARTERLY MARCH 2023

NHPF’s 7th Annual Symposium In order to create the affordable housing of the future, a healthy built environment that works for all, our industry must incorporate innovation where construction, demographics, and government action meet. Demographically, US population shifts—from the aging of Baby Boomers and Millennials to the influx of Generations Y and Z—bring new challenges in home design requirements and affordability. The constant threat to the Low Income Housing Tax Credit (LIHTC) and other housing finance programs sharpens our awareness of the vital role government policy and elected officials play. This year’s Symposium, The Future of Affordable Housing: Interconnecting Construction, Demographics, Government, and Innovation, asks all of us in the affordable housing industry to let our imaginations run free and explore the possibility of a future with abundant, resilient housing that is affordable to people at all income levels and appropriate to where they are in their lives. Join us for an evening of lively discourse and expert opinion to help affordable housers draw up blueprints for a future filled with sustainable, inventive housing for generations to come. Our keynote speaker will be Wemimo Abbey, the Co-Founder and Co-CEO of Esusu, the leading financial technology company helping individuals save money and build credit, one of only a few Black-owned start-ups in the world to be valued at $1 billion. NHPF presents its Affordable Housing Advocacy Award to two champions of legislation supporting LIHTC, Suzan DelBene, Representative (D- WA) and Brad Wenstrup, Representative (R-OH) . NHPF presents its Affordable Housing Trailblazer Award to the young affordable housing visionary referred to as a “YIMBY with a conscience.” At 29 years old, Donahue Peebles III is out to change housing development via his tireless work aimed at curbing the effects of gentrification and closing the racial wealth gap.

Former Cleme Manor Resident Returns to Give Back and Spread an Important Message to Children Delores McGruder lived in Cleme Manor for twenty-five years and returned this past fall to bring joy and educational activities to current young residents and their parents. While she lived at Cleme Manor, Delores took advantage of financial literacy programs that taught her how to save and eventually helped her purchase a home of her own. She was more than a neighbor you could rely on for a cup of sugar—she befriended many of the residents and shared her support whenever she could. Even after she left Cleme Manor, Delores continued to look for more ways to give back to residents. This past fall she applied for and received a grant from the Urban Transformation organization to host four meetings at Cleme Manor where children and their parents could participate in educational, artistic and recreational activities. She also provided healthy snacks to the 122 youth and adults who participated. McGruder dubbed this effort the Mustard Seed Program , inspired by a conversation with an HPD officer who shared her vision of helping children in the community. A mustard seed is known to be one of the smaller seeds but grows into a large plant firmly rooted in the ground. The program was offered through Operation Pathways, The NHP Foundation’s subsidiary providing onsite resident services. In December, this culminated with a fun holiday party where Houston City Council Member Letitia Plummer came and provided meals and gifts to participants. The Council Member said, “ Mustard Seed became part of the community; really doing great things with the kids. Delores McGruder is someone I respect highly.”

Our Symposium 2023 Co-chairs are NHPF Trustees Glynna K. Christian and Charu Singh .

THE NHPF QUARTERLY MARCH 2023

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