30 Years of Investing in Affordable Housing
IN 2019, NHPF CELEBRATED ITS 30TH YEAR creating and preserving America’s affordable housing. The anniversary was marked by many achievements, including the organization’s 100th acquisition.
This past year saw NHPF completing the purchase of nine properties totaling an additional 1,350 units. We also broke ground on the construction of The Strand, 86 units of much- needed affordable housing in Washington, DC’s Deanwood section in Ward 7. The development will also include the repurposed restoration of an historic theater. This effort is a superb example of our development team’s skill in revitalizing an area while preserving a community. This work is made possible through fostering partnerships with multiple entities aligned around increasing the value of an underserved area with a green, sustainable development. Investing in affordable housing was also the theme of our 3rd Annual Symposium, Affordable Housing Investment: Impactful Returns Realized . There, NHPF brought together bi-partisan legislators, institutional investor/fund managers, and other experts to discuss investing in affordable housing as a reliable asset class. NHPF joined forces with Kingsley Associates, leaders in institutional real estate industry research and top real estate investment publisher, IREI, to produce a study examining the barriers to private investment in affordable housing. The findings, which were delivered at the Symposium, revealed the most crucial impediment to institutional investment was “onerous government regulation.” Equipped with the results from the study and its own experience, NHPF is better able to anticipate the needs of potential affordable housing investors while continuing to work diligently with its financial partners to make the application process easier to navigate. NHPF has developed an excellent reputation for attracting both private and public investors and creatively packaging financial sources across its footprint. These include the various JV deals NHPF completed in 2019 with Jonathan Rose and TPI, Inc., as well as the combination of federal, state, city, and private financing that went into the redevelopment of The Mark Twain, a storied SRO property in Chicago. Richard F. Burns Ralph F. Boyd, Jr
This past year, we also documented a stellar example of implementing an ESG-guided strategy in the successful acquisition and rehabilitation of Cleme Manor apartments in Houston.
By focusing on current investor satisfaction while attracting new investors to the industry, NHPF looks forward to many more decades of successful affordable housing preservation and creation.
No one can predict the future; however, affordable housing is a stable investment with solid returns that make it a favorable real estate asset class in which to invest.
Richard F. Burns
Ralph F. Boyd, Jr.
NHPF President & Chief Executive Officer
The NHP Foundation | Fiscal Year 2019 Annual Report 3
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