Dynamic Growth: Past is Prologue
AS NHPF MARKS ITS 35TH ANNIVERSARY, I continue to be energized by the organization’s unwavering commitment to providing affordable housing in communities across the nation. With costs rising and interest rates remaining elevated, never has the need to build, rehabilitate, and preserve affordable housing been greater. NHPF continued to expand its portfolio in 2023 with seven transformative projects either breaking ground or opening their doors, adding a total of 546 units to cities including Baltimore, Chicago, Hagerstown, Houston, and Washington, DC. Now serving communities across 16 states, NHPF remains dedicated to expanding our reach and ensuring that individuals and families have access to abundant, affordable housing options. One notable endeavor is RoseMary’s Place, a 149-unit development in Houston designed to provide housing for individuals who have experienced homelessness. With financing sourced from various partners, including governmental departments and other not-for-profits, this development represents a continuing effort towards addressing housing insecurity in the region. In addition to new construction ventures, NHPF also continues to undertake successful acquisition and rehabilitation initiatives. The Covent Apartments in Chicago, a historic SRO (Single Room Occupancy) building was revitalized into permanent supportive housing, further underscoring our commitment to repurpose existing structures to meet the evolving needs of our communities. Navigating through a challenging development landscape, NHPF has demonstrated resilience and innovation in securing resources and cementing even more key partnerships. Our utilization of corporate social bonds and strategic collaborations with public and private entities have enabled us to creatively fill financing gaps and ensure that we do our part to add to our housing supply and advance our mission effectively, even when the industry has faced headwinds in moving projects forward. NHPF also continued to serve as a thought leader for the industry, raising awareness of the importance of affordable housing, through its 7th Annual Symposium, “The Future of Affordable Housing.” By incorporating learnings from across the generational divide, NHPF offered solutions for how we can all do our part to ensure that residents live in safe, sustainable housing that won’t require heart-wrenching choices to make monthly rent whether they are just starting out on their own, building a family, or focused on aging in place. NHPF remains poised for continued growth and impact. With ongoing projects such as the Park Heights Senior Apartments in Baltimore, MD; Curtis Cofield ll Estates in New Haven, CT; and Seabrook Square in Austin, TX, we continue to expand our footprint. We are pleased to have forged further west in 2023 laying the groundwork for affordable housing for workers in the resort towns of Colorado who have been priced out of their own communities. As we look ahead, I want to extend my heartfelt gratitude to our partners, stakeholders, and dedicated team members who have contributed to NHPF’s success. Together, we will continue to strive towards our vision of a future where everyone has access to affordable and sustainable housing. Eric W. Price, President
ERIC W. PRICE, PRESIDENT
4 THE NHP FOUNDATION | FISCAL YEAR 2023 ANNUAL REPORT
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