The NHPF Quarterly April 2025
Promotion: Eric W. Price, President & CEO NHPF is pleased to announce the promotion of Eric W. Price to President and Chief Executive Officer, effective January 1, 2025. This transition heralds an exciting new chapter in NHPF’s journey towards greater success and impact. Eric has been a driving force in advancing NHPF’s mission for nearly six years, serving most recently as President. During his tenure with NHPF, Eric led the issuance of NHPF’s first $75 million social bond in 2023, with NHPF achieving a AA– rating from Standard & Poor’s. This is the highest rating obtained by not-for-profit social housing providers. Eric also worked to obtain NHPF’s first award from the CDFI Fund’s Capital Magnet Fund. Both of these additional sources have allowed NHPF to leverage private capital to expand the impact of its work, delivering more affordable housing to communities nationwide. These two significant achievements were accomplished while Eric also oversaw the organization’s internal operations, including almost doubling the number of employees. In Memoriam: Stephen Green We are deeply saddened to share the passing of our cherished colleague and friend, Steve Green, who died earlier this week. Steve served as Executive Vice President and Chief Investment Officer of NHPF for 11 years, and in that time, became the architect of some of our most innovative and impactful financing strategies. With more than 35 years of experience in real estate and economic development, Steve brought a rare combination of technical skill and deep compassion to his work. He pioneered complex deal structures that made affordable housing possible in communities across the country—layering HUD- insured debt, tax-exempt bond financing, conventional loans, and Low Income Housing Tax Credits (LIHTC) to bring ambitious projects to life. Steve understood the power of housing to transform lives, and he used every tool at his disposal to make it happen. One such project—the Park Heights redevelopment in Northwest Baltimore— stands as a shining example of Steve’s vision. In 2020, he helped shape the financing blueprint for this major undertaking. His innovative thinking and thoughtful leadership helped bring the project through every phase, and this May, 100 new affordable homes will open to the community. It will be a powerful moment, as Steve’s legacy quite literally takes shape in the form of stable homes and revitalized neighborhoods. Steve was a mentor, a leader, and a steady hand in a complex field. He worked closely with city and state leaders, community organizations, and residents alike, always approaching his work with humility, respect, and heart. We will miss him dearly and remember him always—with gratitude for the communities he helped build and the countless lives he touched.
14 THE NHPF QUARTERLY APRIL 2025
Powered by FlippingBook