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: 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

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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

4 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.

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

Our Top 4 First Quarter Picks Start the year off right with some interesting and provocative selections in books, TV, culture and podcaststackling social change, racial inequity and housing in the US. Take a closer look at some timely offerings below: 1. Hello Tomorrow! follows Jack Billings (played by Billy Crudup), a traveling salesman hawking time-shares on the moon, who wows new clients with grandiose visions of a better life off Earth. On the dark side, as an allegory for the illusory promise of the American dream, parallels to those who’ve experienced deceitful practices in real estate will be interested. For those looking for a fun example of candy-coated retro-futurism, enjoy the Jetsons-like view of the future. 2. The Aftermath: The Last Days of the Baby Boom and the Future of Power in America, the popular Washington Post columnist Philip Bump has analyzed how the end of the baby boom will impact American politics and economics including affordable housing. Bump will be a speaker at the 7th annual NHPF Symposium. 3. A new exhibition now open at the Museum of Modern Art in New York, Architecture Now: New Publics, New York, focuses on architecture firms that are designing for different facets of the public realm including a broader vision to build more housing and resident amenities on NYCHA’s large land holdings. It is anexhibition that explores how architects are applying blue-sky thinking to some of New York City’s biggest public housing issues.

4. Can Religious Groups Help Build Affordable Housing? We at NHPF know that the short answer is yes—this recent podcast from public radio station KQED delves into the challenges of actually making it happen

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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, and scattered-site communities that are 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 57 properties, including nearly 10,000 units, in 16 states and the District of Columbia. For more information, please visit www.nhpfoundation.org.

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THE NHPF QUARTERLY MARCH 2023

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The NHPF Quarterly December 2022 Looking Towards 2023

Looking Towards 2023 In 2022, NHPF added to its legacy of important, industry-wide events including our 6th Annual Symposium which broke fundraising records for the organization’s Resident Services subsidiary, Operation Pathways, as well as onsite property events including two Ribbon-Cuttings, a Groundbreaking, and a Roof-Raising. And we are already planning a slate of similar events in 2023. In 2022, NHPF added to its legacy of important, industry-wide events including our 6th Annual Symposium which broke fundraising records for the organization’s Resident Services subsidiary, Operation Pathways, as well as onsite property events including two Ribbon-Cuttings, a Groundbreaking, and a Roof-Raising. And we are already planning a slate of similar events in 2023.

8 THE NHPF QUARTERLY DECEMBER 2022

NHPF 2022 Events 17 Mississippi Roof-Raising A first for NHPF as we raised the roof on a mix of studios, one bedroom, and three-bedroom apartments for families and individuals with demonstrated need. Nine of the 41 units will provide permanent supportive housing for people who are experiencing homelessness or are in need of mental health support. Another nine units will have preference for income-qualified artists. As part of the project’s interest in promoting local artists, Keyonna Jones, Executive Director, Congress Heights Arts & Culture Center, displayed artwork from the Center. studios, one bedroom, and three-bedroom apartments for families and individuals with demonstrated need. Nine of the 41 units will provide permanent supportive housing for people who are experiencing homelessness or are in need of mental health support. Another nine units will have preference for income-qualified artists. As part of the project’s interest in promoting local artists, Keyonna Jones, Executive Director, Congress Heights Arts & Culture Center, displayed artwork from the Center. The Strand Residences Ribbon-Cutting DC Mayor Muriel Bowser, a major supporter of the affordable housing development with 86 one-and two- bedroom affordable apartments in the Deanwood neighborhood of Washington, DC, attended the event, saying “The Strand Residences are going to give more Washingtonians in Ward 7 the fair shot they deserve— both through high-quality housing as well as important on-site services and support that will help residents realize their goals. We are grateful for all the teams and community members who came together to make this project possible and who are committed to investing in and uplifting our community.” Anacostia Gardens Ribbon-Cutting NHPF acquired the 100-unit Ft. Dupont development in 2016 in partnership with the Anacostia Gardens Tenant Association, Inc. (AGTA) which exercised its rights under the District’s Tenant Opportunity to Purchase Act (TOPA) and selected NHPF as the developer on the Anacostia Gardens Ribbon-Cutting NHPF acquired the 100-unit Ft. Dupont development in 2016 in partnership with the Anacostia Gardens Tenant Association, Inc. (AGTA) which exercised its rights under the District’s Tenant Opportunity to Purchase Act (TOPA) and selected NHPF as the developer on the The Strand Residences Ribbon-Cutting DC Mayor Muriel Bowser, a major supporter of the affordable housing development with 86 one-and two- bedroom affordable apartments in the Deanwood neighborhood of Washington, DC, attended the event, saying “The Strand Residences are going to give more Washingtonians in Ward 7 the fair shot they deserve— both through high-quality housing as well as important on-site services and support that will help residents realize their goals. We are grateful for all the teams and community members who came together to make this project possible and who are committed to investing in and uplifting our community.” rehabilitation of the building. The development also benefits from an affordable housing commitment by UnitedHealthcare. Covent Apartments Groundbreaking NHPF’s second SRO rehab in Chicago, Hotel Covent is a storied building that once housed the vaudeville actors who traveled to Chicago to entertain. Now, the building is being restored with funds from the City of Chicago and Covent Apartments Groundbreaking NHPF’s second SRO rehab in Chicago, Hotel Covent is a storied building that once housed the vaudeville actors who traveled to Chicago to entertain. Now, the building is being restored with funds from the City of Chicago and Anacostia Gardens Ribbon-Cutting NHPF acquired the 100-unit Ft. Dupont development in 2016 in partnership with the Anacostia Gardens Tenant Association, Inc. (AGTA) which exercised its rights under the District’s Tenant Opportunity to Purchase Act (TOPA) and selected NHPF as the developer on the others to provide 30 permanent supportive housing apartments. The property will feature onsite supportive services in partnership with NHPF’s Resident Services affiliate, Operation Pathways, and local case management organization, Renaissance Social Services, Inc. affiliate, Operation Pathways, and local case management organization, Renaissance Social Services, Inc. rehabilitation of the building. The development also benefits from an affordable housing commitment by UnitedHealthcare. NHPF 2022 Events 17 Mississippi Roof-Raising A first for NHPF as we raised the roof on a mix of The Strand Residences Ribbon-Cutting DC Mayor Muriel Bowser, a major supporter of the affordable housing development with 86 one-and two- bedroom affordable apartments in the Deanwood neighborhood of Washington, DC, attended the event, saying “The Strand Residences are going to give more Washingtonians in Ward 7 the fair shot they deserve— both through high-quality housing as well as important on-site services and support that will help residents realize their goals. We are grateful for all the teams and community members who came together to make this project possible and who are committed to investing in and uplifting our community.” NHPF 2022 Events 17 Mississippi Roof-Raising A first for NHPF as we raised the roof on a mix of studios, one bedroom, and three-bedroom apartments for families and individuals with demonstrated need. Nine of the 41 units will provide permanent supportive housing for people who are experiencing homelessness or are in need of mental health support. Another nine units will have preference for income-qualified artists. As part of the project’s interest in promoting local artists, Keyonna Jones, Executive Director, Congress Heights Arts & Culture Center, displayed artwork from the Center. rehabilitation of the building. The development also benefits from an affordable housing commitment by UnitedHealthcare. others to provide 30 permanent supportive housing apartments. The property will feature onsite supportive services in partnership with NHPF’s Resident Services Covent Apartments Groundbreaking NHPF’s second SRO rehab in Chicago, Hotel Covent is a storied building that once housed the vaudeville actors who traveled to Chicago to entertain. Now, the building is being restored with funds from the City of Chicago and others to provide 30 permanent supportive housing apartments. The property will feature onsite supportive services in partnership with NHPF’s Resident Services affiliate, Operation Pathways, and local case

Cin’cere Huntley: A Hollander Ridge Summer Intern Story Cin’cere Huntley , a resident of Hollander Ridge in Baltimore, Maryland, took part in Operation Pathways’ Summer Internship Program. As part of the summer program students were asked to imagine a real estate project, with a budget, that they would want to design. Cin’cere Huntley , a resident of Hollander Ridge in Baltimore, Maryland, took part in Operation Pathways’ Summer Internship Program. As part of the summer program students were asked to imagine a real estate project, with a budget, that they would want to design. Cin’cere’s vision for a social and cultural community center was borne out of her own research and lived experience which showed that in a city of over 700,000, Baltimore has only 44 recreation centers. Cin’cere’s research showed that low-income areas of Baltimore, suffering from years of structural racism and blight, were particularly lacking in safe places for people to gather but also had a surplus of abandoned buildings and vacant lots. This inspired Cin’cere to put her internship training to use in developing a proposal for a site. During her internship Cin’cere and her peers learned about property development, budgeting skills, profit & loss, and basic real estate knowledge. This inspired Cin’cere to put her internship training to use in developing a proposal for a site. During her internship Cin’cere and her peers learned about property development, budgeting skills, profit & loss, and basic real estate knowledge. Cin’cere’s vision for a social and cultural community center was borne out of her own research and lived experience which showed that in a city of over 700,000, Baltimore has only 44 recreation centers. Cin’cere’s research showed that low-income areas of Baltimore, suffering from years of structural racism and blight, were particularly lacking in safe places for people to gather but also had a surplus of abandoned buildings and vacant lots. The vision for the Cin’cere Social and Cultural Community Centre included a swimming pool, The vision for the Cin’cere Social and Cultural Community Centre included a swimming pool, gymnasium, kitchen and ballet center. The center would offer childcare and be a warm and welcoming space to bring the community together. Cin’cere delivered her presentation at the 6th Annual NHPF Symposium in Washington, DC to an audience of hundreds. Her heartfelt earnestness and “sincerity” moved many to tears. Cin’cere delivered her presentation at the 6th Annual NHPF Symposium in Washington, DC to an audience of hundreds. Her heartfelt earnestness and “sincerity” moved many to tears. This inspired Cin’cere to put her internship training to use in developing a proposal for a site. During her internship Cin’cere and her peers learned about property development, budgeting skills, profit & loss, and basic real estate knowledge. The future looks bright for Cin’cere Huntley. The future looks bright for Cin’cere Huntley. Residents of NHPF’s affordable housing properties rely on Operation Pathways, NHPF’s resident services subsidiary, for vital onsite programs benefiting individuals, families, and seniors. Please donate now to support these efforts and keep affordable housing robust and meaningful for all residents. individuals, families, and seniors. Please donate now to support these efforts and keep affordable housing robust and meaningful for all residents. gymnasium, kitchen and ballet center. The center would offer childcare and be a warm and welcoming space to bring the community together. Residents of NHPF’s affordable housing properties rely on Operation Pathways, NHPF’s resident services subsidiary, for vital onsite programs benefiting The vision for the Cin’cere Social and Cultural Community Centre included a swimming pool, Cin’cere delivered her presentation at the 6th Annual NHPF Symposium in Washington, DC to an audience of hundreds. Her heartfelt earnestness and “sincerity” moved many to tears. Cin’cere Huntley: A Hollander Ridge Summer Intern Story Cin’cere’s vision for a social and cultural community center was borne out of her own research and lived experience which showed that in a city of over 700,000, Baltimore has only 44 recreation centers. Cin’cere’s research showed that low-income areas of Baltimore, suffering from years of structural racism and blight, were particularly lacking in safe places for people to gather but also had a surplus of abandoned buildings and vacant lots. Cin’cere Huntley: A Hollander Ridge Summer Intern Story Cin’cere Huntley , a resident of Hollander Ridge in Baltimore, Maryland, took part in Operation Pathways’ Summer Internship Program. As part of the summer program students were asked to imagine a real estate project, with a budget, that they would want to design. gymnasium, kitchen and ballet center. The center would offer childcare and be a warm and welcoming space to bring the community together.

The future looks bright for Cin’cere Huntley.

Residents of NHPF’s affordable housing properties rely on Operation Pathways, NHPF’s resident services subsidiary, for vital onsite programs benefiting individuals, families, and seniors. Please donate now to support these efforts and keep affordable housing robust and meaningful for all residents.

THE NHPF QUARTERLY DECEMBER 2022

The NHP Foundation 2022 Symposium The 6th Annual NHPF Symposium, One Paycheck Away from Homelessness: Building Popular Support for Affordable Housing on Wednesday, October 19 in Washington, DC, brought together attendees to hear from four presenters on successful efforts to combat NIMBYism (Not In My Backyard) and creatively provide housing for various populations in each of their communities. The audience also heard a keynote address from the Executive Director of the US Interagency Council on Homelessness, Jeff Olivet , who discussed the soon-to-be-released Biden-Harris administration's federal strategic plan to prevent and end homelessness. The plan looks at how to stem the tide of people moving into homelessness, by “pairing an increase in housing with an upstream [homelessness] prevention strategy.” people moving into homelessness, by “pairing an increase in housing with an upstream [homelessness] prevention strategy.” The NHP Foundation 2022 Symposium The 6th Annual NHPF Symposium, One Paycheck Away from Homelessness: Building Popular Support for Affordable Housing on Wednesday, October 19 in Washington, DC, brought together attendees to hear from four presenters on successful efforts to combat NIMBYism (Not In My Backyard) and creatively provide housing for various populations in each of their communities. The audience also heard a keynote address from the Executive Director of the US Interagency Council on Homelessness, Jeff Olivet , who discussed the soon-to-be-released Biden-Harris administration's federal strategic plan to prevent and end homelessness. The plan looks at how to stem the tide of administration's federal strategic plan to prevent and end homelessness. The plan looks at how to stem the tide of administration's federal strategic plan to prevent and end homelessness. The plan looks at how to stem the tide of people moving into homelessness, by “pairing an increase in housing with an upstream [homelessness] prevention strategy.” people moving into homelessness, by “pairing an increase in housing with an upstream [homelessness] prevention strategy.” The NHP Foundation 2022 Symposium The 6th Annual NHPF Symposium, One Paycheck Away from Homelessness: Building Popular Support for Affordable Housing on Wednesday, October 19 in Washington, DC, brought together attendees to hear from four presenters on successful efforts to combat NIMBYism (Not In My Backyard) and creatively provide housing for various populations in each of their communities. The audience also heard a keynote address from the Executive Director of the US Interagency Council on Homelessness, Jeff Olivet , who discussed the soon-to-be-released Biden-Harris housing for various populations in each of their communities. The audience also heard a keynote address from the Executive Director of the US Interagency Council on Homelessness, Jeff Olivet , who discussed the soon-to-be-released Biden-Harris The NHP Foundation 2022 Symposium The 6th Annual NHPF Symposium, One Paycheck Away from Homelessness: Building Popular Support for Affordable Housing on Wednesday, October 19 in Washington, DC, brought together attendees to hear from four presenters on successful efforts to combat NIMBYism (Not In My Backyard) and creatively provide

NHPF Transaction News Elm Gardens Apartments (November) NHPF closed on the acquisition of Elm Gardens Apartments, a 3-story building with 36 apartments and parking spaces in the Takoma neighborhood of Washington, DC, converting Naturally Occurring Affordable Housing (NOAH) at risk of being lost, into LIHTC housing. Elm Gardens marks NHPF’s eighth TOPA deal in the District. RoseMary’s Place (November) An NHPF acquisition of houses and land in Houston will RoseMary’s Place (November) An NHPF acquisition of houses and land in Houston will create 149 affordable rental apartments for those experiencing homelessness. Working with Magnificat House Inc. (MHI), the organization will provide mental health and other supports so that residents can embark on positive new chapters. create 149 affordable rental apartments for those experiencing homelessness. Working with Magnificat House Inc. (MHI), the organization will provide mental health and other supports so that residents can embark on positive new chapters. create 149 affordable rental apartments for those experiencing homelessness. Working with Magnificat House Inc. (MHI), the organization will provide mental health and other supports so that residents can embark on positive new chapters. RoseMary’s Place (November) An NHPF acquisition of houses and land in Houston will create 149 affordable rental apartments for those experiencing homelessness. Working with Magnificat House Inc. (MHI), the organization will provide mental health and other supports so that residents can embark on positive new chapters. NHPF Transaction News Elm Gardens Apartments (November) NHPF closed on the acquisition of Elm Gardens Apartments, a 3-story building with 36 apartments and parking spaces in the Takoma neighborhood of Washington, DC, converting Naturally Occurring Affordable Housing (NOAH) at risk of being lost, into LIHTC housing. Elm Gardens marks NHPF’s eighth TOPA deal in the District. RoseMary’s Place (November) An NHPF acquisition of houses and land in Houston will NHPF Transaction News Elm Gardens Apartments (November) NHPF closed on the acquisition of Elm Gardens Apartments, a 3-story building with 36 apartments and parking spaces in the Takoma neighborhood of Washington, DC, converting Naturally Occurring Affordable Housing (NOAH) at risk of being lost, into LIHTC housing. Elm Gardens marks NHPF’s eighth TOPA deal in the District. parking spaces in the Takoma neighborhood of Washington, DC, converting Naturally Occurring Affordable Housing (NOAH) at risk of being lost, into LIHTC housing. Elm Gardens marks NHPF’s eighth TOPA deal in the District. NHPF Transaction News Elm Gardens Apartments (November) NHPF closed on the acquisition of Elm Gardens Apartments, a 3-story building with 36 apartments and

THE NHPF QUARTERLY DECEMBER 2022 3. A Decent Home , Sara Terry’s unflinchingly intimate and troubling documentary about the affordable housing crisis that is roiling the nation, tells this ever-pervasive story on a refreshingly human scale. 4. On the House , Texas State Affordable Housing Corporation’s podcast delves into the development side of the affordable housing industry. 4. On the House , Texas State Affordable Housing Corporation’s podcast delves into the development side of the affordable housing industry. Having trouble viewing this email? View it in your web browser Having trouble viewing this email? View it in your web browser Having trouble viewing this email? View it in your web browser Our Top 4 Winter Picks The holidays offer wonderful opportunities to catch up on books, films, TV and podcasts in areas of social change. Take a closer look at some timely offerings below: 1. Call Us What We Carry the latest collection by Amanda S. C. Gorman, American poet and activist. Her work focuses on issues of oppression, feminism, race, and marginalization, as well as the African diaspora explores history, language, identity, and erasure through an imaginative and intimate collage. 2. Housing in Vienna, High Quality and Affordable is a documentary that asks America what we can learn from Vienna’s progressive affordable housing system. Namely, with the right financial guidance and support, we could match up with some of Europe’s public housing success. 2. Housing in Vienna, High Quality and Affordable is a documentary that asks America what we can learn from Vienna’s progressive affordable housing system. Namely, with the right financial guidance and support, we could match up with some of Europe’s public housing success. 3. A Decent Home , Sara Terry’s unflinchingly intimate and troubling documentary about the affordable housing crisis that is roiling the nation, tells this ever-pervasive story on a refreshingly human scale. 4. On the House , Texas State Affordable Housing Corporation’s podcast delves into the development side of the affordable housing industry. 4. On the House , Texas State Affordable Housing Corporation’s podcast delves into the development side of the affordable housing industry. Our Top 4 Winter Picks The holidays offer wonderful opportunities to catch up on books, films, TV and podcasts in areas of social change. Take a closer look at some timely offerings below: 1. Call Us What We Carry the latest collection by Amanda S. C. Gorman, American poet and activist. Her work focuses on issues of oppression, feminism, race, and marginalization, as well as the African diaspora explores history, language, identity, and erasure through an imaginative and intimate collage. Our Top 4 Winter Picks The holidays offer wonderful opportunities to catch up on books, films, TV and podcasts in areas of social change. Take a closer look at some timely offerings below: 1. Call Us What We Carry the latest collection by Amanda S. C. Gorman, American poet and activist. Her work focuses on issues of oppression, feminism, race, and marginalization, as well as the African diaspora explores history, language, identity, and erasure through an imaginative and intimate collage. 1. Call Us What We Carry the latest collection by Amanda S. C. Gorman, American poet and activist. Her work focuses on issues of oppression, feminism, race, and marginalization, as well as the African diaspora explores history, language, identity, and erasure through an imaginative and intimate collage. 2. Housing in Vienna, High Quality and Affordable is a documentary that asks America what we can learn from Vienna’s progressive affordable housing system. Namely, with the right financial guidance and support, we could match up with some of Europe’s public housing success. 2. Housing in Vienna, High Quality and Affordable is a documentary that asks America what we can learn from Vienna’s progressive affordable housing system. Namely, with the right financial guidance and support, we could match up with some of Europe’s public housing success. Our Top 4 Winter Picks The holidays offer wonderful opportunities to catch up on books, films, TV and podcasts in areas of social change. Take a closer look at some timely offerings below: 3. A Decent Home , Sara Terry’s unflinchingly intimate and troubling documentary about the affordable housing crisis that is roiling the nation, tells this ever-pervasive story on a refreshingly human scale. 3. A Decent Home , Sara Terry’s unflinchingly intimate and troubling documentary about the affordable housing crisis that is roiling the nation, tells this ever-pervasive story on a refreshingly human scale.

via a primary mortgage, 4% LIHTC and Federal Historic Tax Credit equity, soft debt from the City of Chicago, and an IHDA Permanent Supportive Housing (PSH) loan. Berry Manor Transaction (Closing End of September) NHPF’s second Fall closing in Chicago will be the rehabilitation of Berry Manor Apartments, a 57-unit

The NHPF Quarterly September 2022

eight-story senior building in the Woodlawn neighborhood. Originally acquired in 2019, the

Special Fall Edition: How NHPF Spent Summer 2022 The organization was bursting with activity this summer. Highlights include onsite affordable housing internship programs for teens across our portfolio as well as several fun Back-to-School events. We are proud of important development news and we also take time to remember an important member of the NHPF family. recapitalization of Berry Manor will be an $18.3 million transaction funded via 4% LIHTC equity, a HUD 221d4 mortgage, an IHDA soft loan, existing reserves at the property, a seller note, and deferred developer fee.

NHPF Transaction News Seabrook Square in Austin, TX The NHP Foundation 2022 Symposium Excitement is building for the 6th Annual NHPF Symposium One Paycheck Away from Homelessness: Building Popular Support for Affordable Housing Wednesday, October 19 in Washington, DC. The City Council approved the Seabrook Square proposal in Austin, Texas which will bring 262 units spread across four newly constructed buildings to East Austin. This will be NHPF’s first development in the Texas capital. Ridgecrest Phase 2: DC HPTF Funding Phase 2 of the rehabilitation of Ridgecrest Village Apartments was the recipient of a multi-million dollar award via the District of Columbia’s Housing Production Trust Fund (HPTF). The project will rehabilitate 128 units of affordable housing in DC’s Ward 8. Harvard Court Apartments: DC HPTF Funding Also awarded funds via DC’s Housing Production Trust Fund was Harvard Court Apartments. The proposed development will consist of 109 new affordable housing units in DC’s Ward 1. Hotel Covent Transaction (Closing End of September) The rehabilitation of Hotel Covent in Chicago, Illinois will

Frank L. Sullivan, Jr. (1945–1922) A Remembrance By Richard F. Burns, CEO, The NHP Foundation When writing a remembrance, it’s very easy to fall back on cliches—“A giant of the industry,” or “An inspiration to us all,” or “Smartest guy in the room,” but in the case of Frank L. Sullivan, Jr. who passed away this past August, these descriptions and more help tell the story of a man who demonstrated in action, and word, tremendous passion for his work, his family, and his friends. And, in no small part, helped influence the trajectory of affordable multifamily housing throughout the country. individuals, families, and seniors. Please donate now to support these efforts and keep affordable housing robust and meaningful for all residents. Upon graduating from Wharton, Frank held several senior real estate positions in the banking and financial services industries. In 1984, he became one of the founding partners of Clarion Partners, a leading New York-based commercial real estate investment firm, where he represented some of our nation's largest public institutions and their pensioners, including police officers, firefighters, teachers, and city workers. He was extraordinarily proud of the significant returns he achieved for various public employees in New York City and beyond. Operation Pathways Residents of NHPF’s affordable housing properties rely on Operation Pathways, NHPF’s resident services subsidiary, for vital onsite programs benefiting

breathe new life into this historic Single Room Occupancy (SRO) hotel in the Lincoln Park neighborhood, ensuring its sustainability as an Our Top 4 Fall Picks Make this autumn an informed one! Check out these important books, fascinating listens, and a must-see art exhibit covering affordable housing, homelessness, and social justice. affordable housing resource for years to come. Total development costs for the project will be $21.5 million via a primary mortgage, 4% LIHTC and Federal Historic Tax Credit equity, soft debt from the City of Chicago, and an IHDA Permanent Supportive Housing (PSH) loan. THE NHPF QUARTERLY SEPTEMBER 2022 1. Impact With Integrity: Repair the World Without Breaking Yourself by Becky Margiotta is for activists, nonprofit leaders, government administrators, and other social change leaders, including affordable housing providers. It includes a framework for doing the inner work of social change and digs into common organizational challenges she’s observed through her work at the Billions Institute, which helps social change leaders maximize their impact. Berry Manor Transaction (Closing End of 2. “Evicted,” a new exhibit at The Armory in Somerville, MA brings eviction to the forefront using audio, visuals, and graphic depictions to remind visitors that this is happening not only in their community, but across the country. The exhibit, inspired by the book, Evicted , by Matthew Desmond, runs through November 4, 2022. READ MORE

development news and we also take time to remember an important member of the NHPF family.

Frank L. Sullivan, Jr. (1945–1922) A Remembrance By Richard F. Burns, CEO, The NHP Foundation When writing a remembrance, it’s very easy to fall back on cliches—“A giant of the industry,” or “An inspiration to us all,” or “Smartest guy in the room,” but in the case of Frank L. Sullivan, Jr. who passed away this past August, these descriptions and more help tell the story of a man who demonstrated in action, and word, tremendous passion for his work, his family, and his friends. And, in no small part, helped influence the trajectory of affordable multifamily housing throughout the country. Upon graduating from Wharton, Frank held several senior real estate positions in the banking and financial services industries. In 1984, he became one of the founding partners of Clarion Partners, a leading New York-based commercial real estate investment firm, where he represented some of our nation's largest public institutions and their pensioners, including police officers, firefighters, teachers, and city workers. He was extraordinarily proud of the significant returns he achieved for various public employees in New York City and beyond.

NHPF Transaction News Seabrook Square in Austin, TX

The City Council approved the Seabrook Square proposal in Austin, Texas which will bring 262 units spread across four newly constructed buildings to East Austin. This will be NHPF’s first development in the Texas capital. Ridgecrest Phase 2: DC HPTF Funding Phase 2 of the rehabilitation of Ridgecrest Village Apartments was the recipient of a multi-million dollar award via the District of Columbia’s Housing Production Trust Fund (HPTF). The project will rehabilitate 128 units of affordable housing in DC’s Ward 8. Harvard Court Apartments: DC HPTF Funding Also awarded funds via DC’s Housing Production Trust Fund was Harvard Court Apartments. The proposed development will consist of 109 new affordable housing units in DC’s Ward 1. Hotel Covent Transaction (Closing End of September) The rehabilitation of Hotel Covent in Chicago, Illinois will

breathe new life into this historic Single Room Occupancy (SRO) hotel in the Lincoln Park neighborhood, ensuring its sustainability as an

affordable housing resource for years to come. Total development costs for the project will be $21.5 million via a primary mortgage, 4% LIHTC and Federal Historic Tax Credit equity, soft debt from the City of Chicago, and an IHDA Permanent Supportive Housing (PSH) loan. Berry Manor Transaction (Closing End of September) NHPF’s second Fall closing in Chicago will be the rehabilitation of Berry Manor Apartments, a 57-unit eight-story senior building in the Woodlawn neighborhood. Originally acquired in 2019, the recapitalization of Berry Manor will be an $18.3 million transaction funded via 4% LIHTC equity, a HUD 221d4 mortgage, an IHDA soft loan, existing reserves at the property, a seller note, and deferred developer fee.

12 THE NHPF QUARTERLY SEPTEMBER 2022

Our Top 4 Fall Picks Make this autumn an informed one! Check out these important books, fascinating listens, and a must-see art exhibit covering affordable housing, homelessness, and social justice. 1. Impact With Integrity: Repair the World Without Breaking Yourself by Becky Margiotta is for activists, nonprofit leaders, government administrators, and other social change leaders, including affordable housing providers. It includes a framework for doing the inner work of social change and digs into common organizational challenges she’s observed through her work at the Billions Institute, which helps social change leaders maximize their impact. 2. “Evicted,” a new exhibit at The Armory in Somerville, MA brings eviction to the forefront using audio, visuals, and graphic depictions to remind visitors that this is happening not only in their community, but across the country. The exhibit, inspired by the book, Evicted , by Matthew Desmond, runs through November 4, 2022. 3. The Social Justice Hour with Ernest B. Fenton is a talk radio show, a unifying force empowering disenfranchised and marginalized populations by providing a media lens through which the broader community can understand diversity and social justice issues in our world. 4. Owned: A Tale of Two Americas, a recent TV documentary, presents an exposé on how the American housing policy market has been manipulated for years in discriminatory ways.

THE NHPF QUARTERLY SEPTEMBER 2022

The NHPF Quarterly July 2022

Spring was in full swing at NHPF. The organization has been extremely busy on the Development and Thought Leadership fronts. We’d like to kick off this issue with a recent article penned for Forbes by our CEO Dick Burns that is a real call-to-action for business leaders to press forward in the important work of keeping LIHTC alive and well in pursuit of more affordable housing.

How Business Leaders Can Work With Lawmakers To Advance Affordable Housing When politicians of either party go home to their states/districts, they most often hear from their constituents about the lack of affordable housing. The statistics supporting the imbalance between affordable housing supply and demand are overwhelming. And yet, while there is greater bipartisanship over the issue than in previous times, there still exists a strong divergence of opinion on how to house poor and low-income renters seeking shelter adequately. In all fairness, Congress must deal with many competing needs. Lobbyists support their causes everywhere, and many of those causes are worthy. However, putting aside for a moment the moral rationale for increased government support for affordable housing, I tend to agree with Mark Zandi, chief economist of Moody’s Analytics, and Jim Parrott, a non-resident fellow at the Urban Institute, who said in a recent co-authored CNN editorial, “It is unnerving to see so little attention given to what may be the most critical infrastructure need of all: the nation’s dire shortage of affordable housing.”

NHPF Completes Recapitalization of Apartments in Newark, NJ July 12, 2022, New York, NY –NHPF, a national not-for- profit provider of affordable housing, announced today that it has closed the recapitalization of New Center City and New Irvine Turner Apartments in Newark, NJ. The deal will include 143 Section 8 units with 15 set aside for PSH. NHPF will perform a comprehensive rehab on the six-building property including site and exterior improvements, replacements of mechanical systems, structural repair and reconstruction, renovations to each

Khamari’s Story At Forest Park in New Orleans, Louisiana, the

community global garden has done much more than bring fresh produce and herbs to families. For Khamari, who is in the 4th grade, it has become a positive outlet, leadership opportunity, and it has transformed reading into a fun activity. Khamari has struggled with reading in school and with controlling his emotions in a group setting. Over the last year, helping in the garden has become one of Khamari’s favorite things to do, and his behavior has greatly improved as a result.

14 THE NHPF QUARTERLY JULY 2022

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