NHPF Transaction Press Release Archive

RIBBON CUTTING CEREMONY The People’s Community Development Association of Chicago, Inc. and The NHP Foundation Celebrate Completion of Harvest Homes Apartments with Ribbon Cutting Ceremony Event will mark the first new affordable housing in East Garfield in three decades.

July 24, 2017, New York, NY— The People’s Community Development Association of Chicago, Inc. (PCDAC) and The NHP Foundation (“NHPF”), a national not-for-profit provider of affordable housing are proud to announce the ribbon cutting ceremony celebrating the completion of Harvest Homes, an affordable housing complex in East Garfield, Chicago Sunday, July 30, 2017 from 2:00 to 4:00 pm at 3520–3542 West Fifth Avenue. The event is hosted by Reverend Michael Eaddy, President of PCDAC and Pastor of People’s Church of the Harvest Church of God in Christ, Chicago, and Alderman Jason Ervin of the City of Chicago’s 28th Ward. PCDAC is a co-developer of the property. Expected attendees include Richard Burns, President and CEO of The NHP Foundation, Senator Dick Durbin and other local guests and officials. “It has long been a vision of PCDAC to bring affordable housing to East Garfield Park, so that residents who desire to remain and raise their families here can enjoy quality housing at an affordable price,” said Reverend Eaddy, adding “We are thrilled to host this event celebrating the first new affordable housing development to be built in the East Garfield area in over 30 years.” Construction first began on this project in the summer of 2015, and the completed homes have been made available to both low and moderate-income residents. The complex features 36 units and includes an array of two, three, and four-bedroom apartments. In addition, Harvest Homes offers occupants amenities such as energy efficient appliances, off-street parking, exterior security cameras, and in-unit washer and dryer hook ups. The event will feature a tour of the property, refreshments and children’s activities. “The East Garfield Park neighborhood of Chicago is a remarkable component of the revitalization of Chicago’s West Side,” according to NHPF’s President and CEO Richard Burns,

“Replacing vacant lots with safe, quality housing not only attracts new residents, but strengthens the sense of community in the neighborhood as well. With quick access to the Garfield Park Conservatory and expressway, the neighborhood is becoming an attractive place to relocate for those seeking affordable housing in Chicago.” The $12 million development is a result of a joint venture between People’s Community Development Association of Chicago, Inc. and NHPF. The venture was funded by a variety of both private and public sources, such as the Low-Income Housing Tax Credit (LIHTC) program, the City of Chicago’s Department of Planning and Economic Development, the State of Illinois Department of Commerce and Economic Opportunity, J. P. Morgan Chase Bank, the Chicago Community Loan Fund, Enterprise Community Investments, Inc. and NHPF. About PCDAC People’s Community Development Association of Chicago, an affiliate of the People’s Church of the Harvest Church of God in Christ, fulfills community and economic developments and is a pillar in the East Garfield Park community. PCDAC was created in 1999 as a 501(c) (3) not-for- profit organization. Its programs are threefold: job training and placement, youth services for at-risk children, and affordable housing. Their mission is to increase family wealth by promoting home ownership and building affordable housing for residents who wish to remain. PCDAC is committed to making a difference by enhancing their existing programs, to combat disparities in access to resources and unemployment. PCDAC has successfully accomplished its greatest goal yet. The building of Harvest Homes Apartments. Home to 36 families who love their new apartments. This is only the beginning of more great things to come.

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