NHPF BUILDS New Jersey
The NHP Foundation (NHPF) is a leading provider of affordable housing in 16 states and the District of Columbia. Our roots doing business in the Garden State date to 1996 with the acquisition and subsequent LIHTC redevelopment of Hollybush Gardens in Glassboro. Since 1996, NHPF has continued to invest in affordable housing in New Jersey and has developed excellent relationships at the municipal, county and state level, partnering and collaborating on intricate deals that benefit both residents and the surrounding community.
NHPF Builds New Jersey.
Our organization has successfully completed one other acquisition and subsequent LIHTC rehabilitation in New Jersey with our Washington Dodd Apartments property in Orange. Both Hollybush Gardens and Washington Dodd are excellent illustrations of NHPF’s expertise in executing complex LIHTC transactions. The objective of the LIHTC program when it was instituted in 1986 was to draw private investment into the creation, preservation, and rehabilitation of affordable housing in a sustainable fashion. NHPF’s success with Hollybush Gardens and Washington Dodd represent the ideal outcome of the program: quality, affordable housing for New Jersey families for generations to come. Today, NHPF is pushing to bring that same success to New Jersey’s largest city with the Project Based Section 8 Belmont Portfolio consisting of New Irvine Turner Apartments and New Center City Apartments in Newark. The acquisition and comprehensive renovation of these properties was financed through local and federal partnerships with the New Jersey Housing and Mortgage Finance Agency and the U.S. Department of Housing and Urban Development. The renovation will ensure that residents of Newark will continue to have access to safe, affordable housing in the face of substantial urban redevelopment in the City. We see the path up and out of poverty beginning with multifamily housing enriched with services provided by our subsidiary Operation Pathways—services that families and seniors draw on to expand opportunities for education, financial growth, health, and well-being. Preserving and expanding access to affordable housing in the Garden State is just one way that NHPF strives to build and preserve more equitable, resilient communities that people can afford.
BELMONT PORTFOLIO A scattered-site development consisting of six separate properties with a total of 143 units.
Phase I: New Center City Apartments 40 West Kinney & 80 Court Street, Newark, NJ 07102 / 49 units Built between 1900 and 1969 and partially renovated in 1985 and 1995, New Center City is a 49-unit midrise apartment complex, consisting of two multi-story buildings in Newark New Jersey. One site, a 4-story walk up, is located at 40 West Kinney Street and the second site, a 5-story elevator building, is located at 80 Court Street. The properties are located near transit and include one-, two-, and three-bedroom units serving very low-income (<50% AMI) and extremely low- income (<30% AMI) current and future residents. One property, 80 Court Street, has on-site parking and all units have a basic level of finishes and appliances. The landlord provides heat, hot water, and trash removal. A substantial rehabilitation of New Center City Apartments began in late 2021. Phase II: New Irvine Turner Apartments 393, 399, 400, and 416 Irvine Turner Boulevard, Newark, NJ 07108 94 units Built between 1900 and 1969 and partially renovated in 1985 and 1995, New Irvine Turner Apartments consists of four multi-family buildings located in Newark, NJ. The four buildings contain a total of 94 residential units. These properties are located near transit lines and serve very low-income (<50% AMI) and extremely low-income (<30% AMI) current and future residents. Site amenities include elevators and parking at one of the properties 393 Irvine Turner Blvd. In the adjacent parking lot of 416 Irvine Turner Boulevard, a new community building accessible to all residents will be built. This community building will provide a fully accessible management office and amenity space, including laundry facilities and resident services office and function room. The units have a basic level of finishes and appliances. The landlord provides heat, hot water, and trash removal. A substantial rehabilitation of New Irvine Turner Apartments began in spring in 2022. Supportive Housing Partnership The project will have 15 set-aside supportive housing units that will be provided social services by the Newark YMCA. The population to be served will be homeless individuals/and or families in need of permanent and affordable supportive housing. The 15 units rental subsidy will be supported by the U.S. Department of Housing and Urban Development as the units are Project Based Section 8. The residents will be offered services both at the Newark YMCA headquarter office and on-site at the new community building.
NHPF BUILDS NEW JERSEY
Hollybush Gardens 252 Hollybush Gardens, Glassboro, NJ 08028 / 252 units
Having been built in two phases from 1968 to 1972, this 252-unit property was in need of a substantial renovation. The refinancing plan utilized tax-exempt bond permanent debt, Federal LIHTC equity, and pre-existing property reserves. NHPF created a new 2,100 square foot community center built to house the resident services programs that are run for the benefit of the property’s residents. The major rehabilitation work done in the on-site renovation also included kitchen upgrades, including new cabinets, countertops and appliance upgrades, bathroom upgrades, replacement of all electrical panels and smoke detectors, new
HVAC units, the addition of ADA compliance access ramps, new individual hot water heaters to replace central boilers, new waterproofing and insulation of all crawl spaces, and replacement of all interior lighting with new energy efficient fixtures.
Washington Dodd Apartments 587 Carroll Street, Orange, NJ 07050 / 300 units
Renovated in 2011, Washington Dodd Apartments offer a unique lifestyle in a parklike setting with peaceful grounds just outside your door. Washington Dodd offers one-, two-, and three-bedroom garden apartments and two- and three- bedroom townhouses in a beautifully wooded area. We are conveniently located within minutes to public transportation and easy access to major highways such as Garden State Parkway and Route 280, making our central location a simple commute. Apartments and townhouses feel like home. The minute you exit your car, you will be impressed with the peaceful, meticulously landscaped grounds surrounding your future
home. The flexibility of several well-designed floor plans, coupled with our ideal location close to public transportation and main highways, will convince you that you need look no further for the home of your dreams.
NHPF BUILDS NEW JERSEY
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.
Vision A future where communities flourish because attractive, sustainable housing options and life-enhancing services are ensured for income-challenged Americans.
Values NHPF seeks to promote greater diversity, inclusion, racial equity, and social justice in addition to its long-established mission of providing sustainable, service- enriched affordable housing. NHPF is committed to increasing access to opportunities for historically underrepresented individuals and businesses in the development and operation of affordable housing communities.
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