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: May 2024

The NHPF Quarterly: January 2024

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 May 2024

Announcing the 2024 NHPF Symposium We are pleased to announce Adapting Affordable Housing to the New Realities , the 8th Annual NHPF Symposium, scheduled for Wednesday, October 16 at Union Station in Washington, DC. The bipartisan event will honor a senator from either side of the aisle, Sherrod Brown (D-OH) and Darin LaHood (R-IL) , and explore three key themes: Announcing the 2024 NHPF Symposium We are pleased to announce Adapting Affordable Housing to the New Realities , the 8th Annual NHPF Symposium, scheduled for Wednesday, October 16 at Union Station in Washington, DC. The bipartisan event will honor a senator from either side of the aisle, Sherrod Brown (D-OH) and Darin LaHood (R-IL) , and explore three key themes:

• Addressing Urban Challenges: The Intersection of Race, Crime, and Affordable Housing • New Financial Partnering Strategies: “Beyond LIHTC” • Innovations in Boosting Supply and Sustainability: Doing More With Less • Addressing Urban Challenges: The Intersection of Race, Crime, and Affordable Housing New Financial Partnering Strategies: “Beyond LIHTC” Innovations in Boosting Supply and Sustainability: Doing More With Less

Stay tuned for more information. Stay tuned for more information.

NHPF Transaction News Reverend Curtis M. Cofield II Estates, New Haven, CT NHPF Transaction News Reverend Curtis M. Cofield II Estates, New Haven, CT

West River SHIP and NHPF held a groundbreaking ceremony for Reverend Curtis M. Cofield II Estates in New Haven, CT. The occasion marked the start of construction on a transformative project that will deliver 56 much-needed affordable apartments to the vibrant West River community, including 14 supportive housing units. The $20.2 million project is scheduled to be completed by March 2025. This new construction, situated on vacant land purchased from the City of New Haven, signifies NHPF's inaugural venture into the city, in partnership with West River SHIP. Speakers at the event included the President of West River SHIP, as well as New Haven Mayor Justin Elicker; New Haven Board of Alders President Tyisha Walker-Myers; State Representative Patricia Dillon; Suzanne Piacentini, CT Field Office Director, U.S. Department of Housing and Urban Development; and Dr. Karen DuBois-Walton, President, Elm Speakers at the event included the President of West River SHIP, as well as New Haven Mayor Justin Elicker; New Haven Board of Alders President Tyisha Walker-Myers; State Representative Patricia Dillon; Suzanne Piacentini, CT Field Office Director, U.S. Department of Housing and Urban Development; and Dr. Karen DuBois-Walton, President, Elm City Communities/Housing Authority of the City of New Haven. Dr. Karen DuBois-Walton summed up the development THE NHPF QUARTERLY MAY 2024 West River SHIP and NHPF held a groundbreaking ceremony for Reverend Curtis M. Cofield II Estates in New Haven, CT. The occasion marked the start of construction on a transformative project that will deliver 56 much-needed affordable apartments to the vibrant West River community, including 14 supportive housing units. The $20.2 million project is scheduled to be completed by March 2025. This new construction, situated on vacant land purchased from the City of New Haven, signifies NHPF's inaugural venture into the city, in partnership with West River SHIP.

apartments to the vibrant West River community, including 14 supportive housing units. The $20.2 million project is scheduled to be completed by March 2025. This new construction, situated on vacant land purchased from the City of New Haven, signifies NHPF's inaugural venture into the city, in partnership with West River SHIP. Speakers at the event included the President of West River SHIP, as well as New Haven Mayor Justin Elicker; New Haven Board of Alders President Tyisha Walker-Myers; State Representative Patricia Dillon; Suzanne Piacentini, CT Field Office Director, U.S. Department of Housing and Urban Development; and Dr. Karen DuBois-Walton, President, Elm City Communities/Housing Authority of the City of New Haven. Dr. Karen DuBois-Walton summed up the development this way: “As a moving to work public housing authority, we administer federal funding made possible though HUD. Most of this funding goes to providing tenant based subsidies that allow families to lease in the private market. But annually we set aside a portion of that funding to use in connection with development projects like this one. The addition of our funding allows units to be more deeply affordable reaching an income bracket that desperately needs more quality housing options.” Seabrook Square, East Austin, TX NHPF broke ground in January on Seabrook Square, 204 new rental apartment homes available to households earning at or below 60% of the Area Median Income (AMI) in East Austin, TX. This significant event marks a crucial step towards addressing the region's housing needs and fostering economic diversity within the community. In collaboration with AHFC and local developer Capital A Housing, NHPF closed on $74.5 million in construction financing for Seabrook Square. This project signifies NHPF's inaugural venture into Austin, showcasing a commitment to partnering with local organizations to deliver much-needed affordable housing. Rasmus-Temenos, Houston, TX Temenos Community Development Corporation (CDC) in partnership with NHPF announced the opening of Rasmus- Temenos, a property with 95 Permanent Supportive Housing (PSH) apartments. The construction of Rasmus-Temenos is a testament to the collaborative efforts of government entities, nonprofit organizations, and private sector partners dedicated to addressing the pressing issue of homelessness in this community.

At the Ribbon-cutting Ceremony, Mayor Pro-Tem Martha Castex-Tatum said:

“Saving this housing that will provide specialized services in order to increase the wellness of the population was achieved by all the entities here today. Through innovative funding mechanisms and unwavering commitment, this project ensures that vulnerable individuals have access to safe and supportive housing.” The property includes an entire floor that is dedicated to at-risk youth. Plus, 80 of the units replace those lost to The Texas Department of Transportation (TxDOT) to make way for highway improvements. Funding for this transformative project includes significant contributions from the Houston Housing Authority, City of Houston Housing and Community Development, with $12.5 million allocated, and $11 million in Community Development Block Grant (CDBG) funding for Disaster Recovery from Harris County.

Eric Dillard (left) and Brantly Grier

Angela Williams (cooking) and Winona Butler

With the Right Assistance, Anytime is the Right Time to Start a Business Mark Twain famously said, “Age is an issue of mind over matter. If you don’t mind, it doesn’t matter.”

The Heart and Soul of Volunteering

At two NHPF properties, Mark Twain in Chicago and St. Luke’s Plaza in St. Louis, two women found purpose and fulfillment in the embrace of volunteerism.

THE NHPF QUARTERLY MAY 2024

Disaster Recovery from Harris County.

Eric Dillard (left) and Brantly Grier

Angela Williams (cooking) and Winona Butler

With the Right Assistance, Anytime is the Right Time to Start a Business Mark Twain famously said, “Age is an issue of mind over matter. If you don’t mind, it doesn’t matter.” Clearly Eric Dillard (above left) who, at age 75, founded the climate change non-profit, New Frontier, agrees with that sentiment. Eric, a resident of NHPF affordable property, The LaSalle at Lincoln Heights for the past six years, contacted LaSalle RSC Brantly Grier to work on setting up his business. Together with Brantly, the two began the process of securing a tax ID, trademark, and articles of incorporation. As soon as the process is complete, Eric will be moving his business into an office space.

The Heart and Soul of Volunteering

At two NHPF properties, Mark Twain in Chicago and St. Luke’s Plaza in St. Louis, two women found purpose and fulfillment in the embrace of volunteerism. Angela Williams and Winona Butler, residents of these two communities respectively, embarked on a journey of service which not only enriched their own lives but also transformed the fabric of their communities. Operation Pathways, the onsite service provider subsidiary of NHPF, provides residents the tools, resources, and coaching they need to achieve housing stability and meet their academic, financial, and wellness goals. Angela, a cheerful and dedicated member of Mark Twain, first dipped her toe into volunteering by assisting with various activities and events organized by the RSC at Mark Twain.

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

6 THE NHPF QUARTERLY MAY 2024

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

1. Housing in America Podcast: Pathways to Homeownership Putting a roof over their heads is a struggle for many Americans. Rising house prices, restrictive zoning, increasing rents, and a lack of small mortgages are some of the hurdles facing people who want a safe and secure place to call home. Alex Horowitz and Tara Roche, directors of The Pew Charitable Trusts’ housing policy initiative, discuss some of the challenges—and how to overcome them—for those pursuing homeownership. 2. We Grown Now A film that takes the idea of beauty seriously and works, with deceptive ease, to show us the tiny pleasures that make up life in notorious Cabrini-Green. Beginning in 1995, this former Chicago Housing Authority (CHA) public housing project on the Near North Side of Chicago, Illinois was torn down, with the last dilapidated mid- and high- rise building demolished in 2011.

3. Housing the Nation Scholars, advocates, and architects assess America’s affordable housing crisis and suggest various strategies to rectify it, including numerous images of important, recently-built houses and complexes.

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THE NHPF QUARTERLY MAY 2024

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The NHPF Quarterly January 2024

Many Completions in 2023, Many Goals in 2024 NHPF never slowed down in 2023, and in particular, the final quarter where the organization completed three celebrations for nearly 200 units of affordable housing. This included the Ribbon-Cuttings for Berry Manor and The Covent in Chicago and a groundbreaking to mark the start of ground-up construction on Park Heights Senior Apartments in Baltimore.

8 THE NHPF QUARTERLY JANUARY 2024

in Baltimore.

Attracting Donor Dollars During the Season of Giving NHPF's Rebecca Ely on How Philanthropy Helps Make Affordable Housing Life-changing In this season of giving, the importance of philanthropy cannot be overstated. Many donors put as much energy into choosing the perfect gift for loved ones, as deciding where to invest their philanthropic dollars. Philanthropy can have a transformative role in creating a just and more equitable community. Philanthropy, for example, plays a transformative role in the realm of affordable housing and supportive services. The scarcity of affordable housing is a pressing issue that affects communities worldwide, contributing to homelessness, inequality, and the erosion of social cohesion. Philanthropists who champion affordable housing initiatives are not just addressing a basic human need. They are laying the foundation for vibrant, inclusive communities. Affordable housing philanthropy addresses the interconnected nature of social issues. Stable housing is a cornerstone for improved health, education, and economic opportunities. When individuals have a secure place to call home, they are better positioned to access healthcare, pursue education, and contribute meaningfully to the workforce. In this way, philanthropy aimed at affordable housing becomes a catalyst for comprehensive community development. Affordable housing communities that provide onsite resident services ensure residents are stably housed. Once stably housed, residents can pursue goals such as improving their health, pursuing further education for themselves and their children, and expanding their economic opportunities.

NHPF Transaction News Park Heights Senior Apartments, Baltimore, MD As part of a major redevelopment plan for the area, City of Baltimore, Maryland Department of Housing and Community Development, Henson Development Company, and NHPF broke ground on Park Heights Senior Apartments, marking a major step in restoring a historically important, under-invested neighborhood. The new $52M affordable housing development will create 100 affordable apartments for seniors. Construction of Park Heights Senior Apartments continues the revitalization of the neighborhood that includes the redevelopment of Pimlico Racecourse, construction of the new Enoch Pratt Free Library, and the two developments along Park Heights Avenue by Comprehensive Housing Assistance, Incorporated. Curtis Cofield II Estates, New Haven, CT NHPF closed on $30M of construction financing for Curtis Cofield ll Estates in New Haven, CT to produce 56 affordable apartments. This new construction on vacant land purchased from the City of New Haven marks NHPF’s first foray into the City. The development is in partnership with West River SHIP, an investment group based on the doctrine of the late Reverend Dr. Leon H. Sullivan, pastor of the Zion Baptist Church in Philadelphia, whose principles address racial and economic emancipation through participation in profit- making initiatives by minorities that have been traditionally deprived of involvement in substantial capitalistic endeavors. Edwin Berry Manor Apartments, Chicago, IL In keeping with its mission to preserve affordable housing, NHPF announced it has completed a major renovation of the Edwin C. Berry Manor Apartments, a senior, Section 8 property located at 737 E. 69th Street in Chicago, in the same area that will serve as home to the Obama Library. The rehabilitation was made possible by a financial partnership with HUD, Merchants Capital, Illinois Housing Development Authority (IHDA), National Affordable Housing Trust (NAHT) and UnitedHealth Group. NHPF is preserving and maintaining the 57-unit affordable property built in 1991, making it the fourth

THE NHPF QUARTERLY JANUARY 2024

themselves and their children, and expanding their economic opportunities. economic opportunities.

the Obama Library. senior, Section 8 property located at 737 E. 69th Street in Chicago, in the same area that will serve as home to the Obama Library. The rehabilitation was made possible by a financial partnership with HUD, Merchants Capital, Illinois Housing Development Authority (IHDA), National Affordable Housing Trust (NAHT) and UnitedHealth Group. NHPF is preserving and maintaining the 57-unit affordable property built in 1991, making it the fourth property the organization has acquired or built in Chicago in the last five years and the first specifically for seniors. The rehabilitation was made possible by a financial partnership with HUD, Merchants Capital, Illinois Housing Development Authority (IHDA), National Affordable Housing Trust (NAHT) and UnitedHealth Group. NHPF is preserving and maintaining the 57-unit affordable property built in 1991, making it the fourth property the organization has acquired or built in Chicago in the last five years and the first specifically for seniors. The Covent Apartments, Chicago, IL NHPF celebrated the re-opening of the Covent Apartments, 30 affordable studio apartments developed from the Covent Hotel, an SRO in the Lincoln Park neighborhood of Chicago, in a Ribbon-Cutting Ceremony. The Covent Apartments, Chicago, IL NHPF celebrated the re-opening of the Covent Apartments, 30 affordable studio apartments developed from the Covent Hotel, an SRO in the Lincoln Park neighborhood of Chicago, in a Ribbon-Cutting Ceremony. The Covent Apartments, Chicago, IL NHPF celebrated the re-opening of the Covent Apartments, 30 affordable studio apartments developed from the Covent Hotel, an SRO in the Lincoln Park neighborhood of Chicago, in a Ribbon-Cutting Ceremony. in Chicago, in the same area that will serve as home to the Obama Library. The rehabilitation was made possible by a financial partnership with HUD, Merchants Capital, Illinois Housing Development Authority (IHDA), National Affordable Housing Trust (NAHT) and UnitedHealth Group. NHPF is preserving and maintaining the 57-unit affordable property built in 1991, making it the fourth property the organization has acquired or built in Chicago in the last five years and the first specifically for seniors.

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Donate to Operation Pathways Donate to Operation Pathways Donate to Operation Pathways

Our Top Picks for the New Year Stay on top of issues affecting affordable housing and social justice topics via these interesting choices! 1. The Curse has been called the most cringe-worthy show of the year but also very funny, and for those in affordable housing, there are some real moments. The Siegels are newlyweds and they have set out to make a home renovation show about delivering eco-friendly passive houses to the residents of Española. They are depicted as well-meaning gentrifiers in a community consisting of indigenous and BIPOC folks. The show they are shooting is called Flipanthropy, alluding to the traditional house flipping format with an added focus on community building. Ironically, the pair desig n mirror houses that stick out like sore thumbs in their surroundings and which often entice birds to crash directly into them. 1. The Curse has been called the most cringe-worthy show of the year but also very funny, and for those in affordable housing, there are some real moments. The Siegels are newlyweds and they have set out to make a home renovation show about delivering eco-friendly passive houses to the residents of Española. They are depicted as well-meaning gentrifiers in a community consisting of indigenous and BIPOC folks. The show they are shooting is called Flipanthropy, alluding to the traditional house flipping format with an added focus on community building. Ironically, the pair desig n mirror houses that stick out like sore thumbs in their surroundings and which often entice birds to crash directly into them. 2. Blighted is a powerful narrative about the decades-long decay and remarkable two-year reinvention of Summerdale, an aging apartment community located in one of Atlanta’s grittiest corridors. A book and a 5-part series are now available. 3. Rough Sleepers is the story of an inspiring doctor who made a difference, by helping to create a program to care for Boston’s homeless community by the Pulitzer Prize-winning, New York Times bestselling author of Mountains Beyond Mountains. 3. Rough Sleepers is the story of an inspiring doctor who made a difference, by helping to create a program to care for Boston’s homeless community by the Pulitzer Prize-winning, New York Times bestselling author of Mountains Beyond Mountains. Our Top Picks for the New Year Stay on top of issues affecting affordable housing and social justice topics via these interesting choices! Our Top Picks for the New Year Stay on top of issues affecting affordable housing and social justice topics via these interesting choices! 1. The Curse has been called the most cringe-worthy show of the year but also very funny, and for those in affordable housing, there are some real moments. The Siegels are newlyweds and they have set out to make a home renovation show about delivering eco-friendly passive houses to the residents of Española. They are depicted as well-meaning gentrifiers in a community consisting of indigenous and BIPOC folks. The show they are shooting is called Flipanthropy, alluding to the traditional house flipping format with an added focus on community building. Ironically, the pair desig n mirror houses that stick out like sore thumbs in their surroundings and which often entice birds to crash directly into them. 2. Blighted is a powerful narrative about the decades-long decay and remarkable two-year reinvention of Summerdale, an aging apartment community located in one of Atlanta’s grittiest corridors. A book and a 5-part series are now available. 2. Blighted is a powerful narrative about the decades-long decay and remarkable two-year reinvention of Summerdale, an aging apartment community located in one of Atlanta’s grittiest corridors. A book and a 5-part series are now available. 3. Rough Sleepers is the story of an inspiring doctor who made a difference, by helping to create a program to care for Boston’s homeless community by the Pulitzer Prize-winning, New York Times bestselling author of Mountains Beyond Mountains.

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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 single- family homes that are both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF’s Construction Management Group 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 single- family homes that are both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF’s Construction Management Group 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 single- family homes that are both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF’s Construction Management Group

10 THE NHPF QUARTERLY JANUARY 2024

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,

12 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

14 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!

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THE NHPF QUARTERLY SEPTEMBER 2023

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