“As part of the Better Buildings Challenge, multifamily housing partners showcase innovative strategies to boost energy efficiency.”
NHPF’S AFFORDABLE MULTIFAMILY PORTFOLIO enjoyed another successful year in 2013. The portfolio proudly maintained a weighted physical occupancy of 96% throughout the year. The portfolio’s financial performance was very stable with an overall debt service coverage of 1.57. NHPF’s properties collectively contributed more than $1 million to fund NHPF’s operations. During 2013, the NHPF portfolio grew by more than 1,100 units, expanding its reach into Houston, Texas and entering Maryland’s Baltimore City and Prince George’s County. NHPF substantially completed the rehabilitation and lease-up of 200 affordable multifamily units in Stamford, Connecticut and completed the construction and lease-up of 91 units of new senior housing in Washington, DC. Rehabilitation also started on 252 affordable multifamily units in Glassboro, New Jersey and 384 units in Boynton Beach, Florida in 2013. We are planning to begin rehabilitation of over 600 additional units in 2014. In 2013, NHPF continued its commitment to greening its portfolio and committed to participate in Better Buildings Challenge under the US Departments of Energy and Housing and Urban Development. The NHPF goal is to meet this Challenge by reducing our energy consumption across our portfolio by 20% by 2020. All of our property rehabilitations are completed according to the Enterprise Green Communities® energy-efficiency standards. NHPF remains committed to providing high quality, well-maintained, and energy- efficient affordable housing across our portfolio. As part of the Better Buildings Challenge, multifamily housing partners showcase innovative strategies to boost energy efficiency, including lighting improvements, heating and cooling system upgrades, installing rooftop solar systems and supporting new financing for energy retrofits and green construction. NHPF will share best practices and lessons learned with other Challenge participants—creating models for the broader US multifamily housing industry.
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