The NHP Foundation Transaction News
A Family-Centered Coaching Success Story
Cutting the Ribbon on Blue Mountain Apartments
Watch a video about Hector & Plaza Borinquen
NHPF proudly celebrated the grand reopening of Blue Mountain Apartments with a ribbon-cutting ceremony late last month. The revitalization of this historic Section 8 family property, located in Roxbury, MA, showcases NHPF's commitment to preserving affordable housing in a gentrifying neighborhood and supporting very low-income families, including larger households that require spacious three, four, and five-bedroom units. The Blue Mountain Apartments redevelopment is a landmark effort in affordable housing preservation, featuring the rehabilitation of 217 multifamily units across 19 buildings originally constructed between 1910 and 1930. “NHPF recognized the urgency of saving these Section 8 homes in this growing neighborhood,” said Mecky Adnani, lead developer for Blue Mountain, “We took action and embarked on an acquisition and long-term preservation initiative to restore the property's physical and historic integrity and provide newly renovated apartments for existing residents.” The $112M refinance which included tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), a Risk Share loan, and federal and state historic tax credits, underscores the complexity and dedication required to preserve affordable housing for future generations. Among the distinguished speakers at the event were Mark Teden, Vice President of Multifamily Programs, MassHousing who said, "MassHousing’s success in preserving affordable housing is exemplified by our work with NHPF on Blue Mountain Apartments, and we extend our gratitude to our joint venture lenders and development team for their commitment to creating quality housing for lower-income seniors and families." Additional speakers included Karen Kelleher, President, Loan Fund, Blue Hub, and Costas Paleologos, Senior Vice President, PNC Multifamily Capital, PNC Bank. Finally, Shirley Clark, a resident of Blue Mountain Apartments also shared personal remarks on how the revitalized community impacts her family. THE NHPF QUARTERLY DECEMBER 2024
Hector’s story is one of remarkable transformation and resilience, deeply intertwined with the support and guidance of his mother and Operation Pathways. Growing up in Plaza Borinquen in the Mott Haven section of the Bronx, Hector faced numerous challenges that shaped his character and determination. In 2022, at 16, Hector embarked on a journey that would change his life forever when he became Operation Pathways’ Teen Intern. Initially, Hector was a shy and reserved teenager. His mother, recognizing the potential benefits of the internship, encouraged him to apply. Despite his initial hesitation, Hector filled out the application and was selected for the internship. This opportunity marked the beginning of a significant change in his life.
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Happy Holidays from Operation Pathways
As the year comes to a close, we are filled with gratitude for the incredible support of our community. Together, we have created not just housing, but homes filled with hope, stability, and opportunity. Your partnership has helped us: • Provided safe, affordable housing for 9,355 residents across 32 affordable housing communities • Engaged 5,470 residents in vital Resident Services that empower lives and strengthen communities
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