More Success Stories from the NHPF Affiliate Program
Our Mission The NHP Foundation is a not-for-profit real estate organization 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. Our Portfolio and Services 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 provides in-house resources dedicated to infrastructure review, infrastructure development and costs management. 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 nearly 10,000 units, in 15 states and the District of Columbia. We invite interested organizations to learn more about becoming an NHPF Affiliate. Whether you’re developing your first or fourteenth development, the NHPF Affiliate Program can give your organization the extra edge to make your current project your most successful and impactful yet. We invite you to learn more about how the Affiliate Program can benefit you, your development, and your whole community for the better. Jamie A. Smarr, Senior Vice President, Affiliate Program firstname.lastname@example.org / 646.336.4929
Takoma Place Apartments Another NHPF TOPA acquisition, Takoma Place Apartments is located in Brightwood, a gentrifying neighborhood in Northwest DC with little affordable housing options. The property consists of 105 rental units in seven buildings. NHPF was chosen by the Takoma Place Tenant Association to complete the $16 million purchase in 2017.The property is currently undergoing a comprehensive $46.1 million redevelopment that will modernize the building’s systems and all apartment interiors.
Washington, DC 176 units Woodmont Crossing Apartments NHPF acquired Woodmont Crossing Apartments for $44.6 Million in 2018 and renovated the 176-unit property. The purchase was financed with a $25.5 million loan from the DC Housing Finance Agency in its first-ever participation in HUD’s 50/50 Risk Share program. NHPF bought the property in partnership with the Woodmont Crossing United Tenant Association, making it NHPF’s fifth Tenant Opportunity to Purchase Act transaction in Washington, DC Today, Woodmont is a more energy-efficient property with new appliances and updated community space, as well as an ongoing commitment to limit rents to 60% of AMI me for the next 15 years.
122 EAST 42ND STREET, SUITE 4900, NEW YORK, NY 10168 • 646.336.4940 1090 VERMONT AVENUE, NW, SUITE 400, WASHINGTON, DC 20005 • 202.789.5300 180 N. LASALLE, SUITE 3700, CHICAGO, IL 60601 • 312.216.5103 www.nhpfoundation.org
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