NHPF Affordable Housing Blueprint

BENNING HEIGHTS APARTMENTS 4807 Alabama Avenue Washington, DC 20019 148 units In Washington, DC, the Benning Heights Tenants Association (BHA) found that their building was being sold. The market price for the property would likely make rents unaffordable. Using the powers afforded them under the District of Columbia’s TOPA; BHTA partnered with NHPF to have the market- based purchase contract assigned to them and acquire the property. Benning Heights Apartments is a 148-unit all brick, garden-style walkup apartment community. The substantial rehab, which NHPF managed as a full relocation, was completed in 2019, and included complete replacement of all kitchens and bathrooms, HVAC equipment, hot water heaters, windows and flooring. Substantial work was also done to the building exteriors, floor joists were repaired, solar panels and green areas were installed on certain roofs, bio- retention bonds were added for storm water runoff, and eight units were converted into barrier free (ADA) units.

BLUE MOUNTAIN 68 Cheney Street Dorchester, MA 02121 217 units This historically significant property in the Roxbury neighborhood of Boston was acquired by NHPF for $56.2 million. NHPF is providing significant improvements to these apartments, including kitchen and bathroom renovations, system upgrades, energy efficient boilers, new ventilation systems, and exterior repairs and restoration. The renovation will require a full, temporary relocation. MassHousing provided NHPF with $52.2 million in construction to permanent financing for the acquisition and rehabilitation of the 19 historic buildings that comprise the housing community, as well as $12.5 million in permanent financing for land acquisition. The transaction also involved $35.5 million in federal Low-Income Housing and Historic Tax Credit equity, $4.5 million in state Historic Tax Credit equity, and $3 million from anticipated operating revenue. PNC Bank acted as the low-income housing and historic tax credit investor for the transaction.

BOLTON NORTH 1600 West Mount Royal Avenue Baltimore, MD 21217 209 units Bolton North is a 209-unit senior housing high-rise located close to Baltimore’s scenic Inner Harbor. This senior-housing community is situated in the historic and thriving Bolton Hill neighborhood, a community known for its tranquil, tree-lined streets populated by restored mid to late 19th-century three- and four-story townhouses, urban mansions, churches, and public buildings. Bolton North, purchased with our development partner, Urban Atlantic, through the PNC fund in 2014 underwent a moderate rehabilitation, handled as a resident in place relocation . It included four primary scopes of work: windows in the entire building were replaced from the inside; re sprinkler systems were extended into every unit; basic unit work was be done in about a third of the units (e.g. replacing light xtures, cabinets, and appliances); 11 units were converted into barrier-free units.

18 • The NHP Foundation: Affordable Housing Blueprint

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