NHPF BUILDS Chicago
The NHP Foundation (NHPF) is a leading provider of affordable housing in 16 states and the District of Columbia. Our varied preservation and construction strategy in the Windy City dates to 2016. That year, NHPF acquired two SRO (Single-Room Occupancy) properties, The Mark Twain Hotel and The Hotel Covent. Working closely with the City, local Aldermen, and state/ regional funding agencies, NHPF completed a successful rehabilitation and opening of The Mark Twain in 2020. The property has since won numerous design and preservation awards as well as praise from our partners in Chicago. Work on the rehabilitation of The Hotel Covent completed in 2023. SRO acquisition and restoration is a unique feature of Chicago’s affordable housing landscape, due to Chicago’s Single-Room Occupancy and Residential Hotel Preservation Ordinance of 2014. NHPF is proud to be part of this important local restoration effort. In 2016, NHPF, via its Affiliate Program, partnered with The People’s Community Development Association of Chicago, Inc. (PCDAC) to develop land in East Garfield, a community in need of revitalization, and created 36 affordable two, three, and four- bedroom apartments. The result of that successful partnership, Harvest Homes Apartments, expanded to include further affordable units in a Phase II design that is before the City for approvals today. NHPF’s presence in Chicago also includes the 2019 acquisition of Berry Manor, 57 units of affordable housing. Berry Manor’s substantial renovation was completed in 2023. NHPF Builds Chicago. NHPF established a Chicago office in 2016. Owing to our excellent relationships with entities from the City of Chicago, HUD Chicago, local CDFIs like CIC and CCLF, religious organizations like PCDAC, community leaders, and providers of services from clinical case management (Renaissance Social Services), to historic tax credit advisors and design and construction partners, NHPF has made significant inroads in the City. This has led to increased opportunities with current projects in our pipeline to continue to preserve and create affordable housing in the Windy 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.
The Mark Twain Permanent Supportive Housing/Affordable Living in Downtown Chicago, Illinois Built in 1932, The Mark Twain is located at the newly renovated CTA Red Line Clark/Division Station. Both are located in Chicago’s Historic Gold Coast neighborhood. Nearby to transportation, restaurants and more, the Mark Twain Hotel offers a convenient place to live in a thriving neighborhood served with 24 hour access to public transit.
This historic five-story, elevator building functioned as an SRO (single resident occupancy) hotel. Preserved in accordance with Chicago’s SRO Preservation Ordinance, which passed in November 2014, The Mark Twain is NHPF’s first SRO property in Chicago. It contains 148 SRO units with private bathrooms. This property also includes a resident lobby and enhanced private service area for on-site clinical case management, a parlor for community activities, a laundry room for residents’ use and 4 public serving retail spaces on the ground floor, The rehabilitation of the historic Mark Twain hotel in Chicago was a landmark achievement for NHPF. With work beginning in 2018, this substantial renovation of a historically significant property transformed the building from a significant but aged affordable housing resource into a modern, desirable SRO property in the heart of Chicago’s Gold Coast neighborhood. All units were converted into true studio apartments with the addition of full kitchens. Other upgrades included façade preservation, new windows, a new HVAC system, updated electrical and plumbing fixtures, and updated bathrooms. Common areas were also historically restored and a new outdoor roof deck added for residents’ use. Construction was completed in 2020 with a total development cost of $54.3M which included participation from City of Chicago $5M, $17.6M LIHTC and Historic Tax Credit Equity from Enterprise Community Investment, a $27.3M FHA 220 Loan provided by Bellwether Enterprise, a Sponsor Loan and financing of $4M and a small Affordable Housing Energy Grant from ComEd.
Hotel Covent Permanent Supportive Housing in Lincoln Park Chicago, Illinois Constructed in 1906 and originally attached to a 2000+ seat historic theatre, The Covent is located in the Lincoln Park neighborhood of Chicago. The three-story property functioned as an SRO. In the Fall of 2023, The NHP Foundation completed a substantial rehabilitation of The Covent Apartments. Construction at the property has produced 30 new apartments with bathrooms and
kitchens creating contemporary studio apartments for residents. The Covent’s conversion from Single Room Occupancy (SRO) hotel to a modern studio apartment building also brings residents more services in partnership with Renaissance Social Services, Inc. who brings clinical case management on-site; all while preserving Covent’s affordability for Lincoln Park residents. The investment is NHPF’s second SRO deal in Chicago, with a total development cost of $21.6M, which includes $7.9M in federal Low Income Housing Tax Credits (LIHTC) and Historic Tax Credits, $5M of City Home and Affordable Housing Opportunity Funds, $3.1M in IHDA Permanent Supportive Housing Funds and $4.9M of a HUD/FHA 220 loan and a small Affordable Housing Energy Grant from ComEd.
NHPF BUILDS CHICAGO
Edwin Berry Manor Apartments Senior Affordable Housing in Chicago, Illinois Edwin Berry Manor Apartments is a senior rental property in the Woodlawn area in Chicago, Illinois. Berry Manor Apartments, located at 737 East 69th Street, consists of fifty-seven (57) apartments in an 8-story residential building with 14 parking spaces. There is a mix of studio, one- and two-bedroom apartments with one bathroom.
The Woodlawn neighborhood, an historically African American community in Chicago, is located on Chicago’s South Side. The future site of the Obama Presidential Library is about two miles northeast of this property. The library has fanned lots of real estate speculation and concern for the preservation of affordable housing, leading local residents to advocate for the Woodlawn Housing Preservation Ordinance. A new Jewel Osco opened one mile north in early 2019, serving both the Hyde Park and Woodlawn communities. Woodlawn had been considered by some as a food desert until this time. The property is immediately surrounded by Martin Temple AME Zion Church and a mix of housing types. A substantial rehabilitation of the property was completed in 2023. NHPF is preserving and maintaining the 57-unit affordable property built in 1991, making it the fourth property the organization has acquired or built in Chicago in the last five years and the first specifically for seniors. The rehabilitation was made possible by a total development cost of $18.3M, which includes a $5.8M FHA 221d4 loan by Merchants Capital, $1.7M from Illinois Housing Development Authority (IHDA), $6.5M of LIHTC Equity from National Affordable Housing Trust (NAHT) and UnitedHealth Group, seller financing and proceeds of $3.6M, and a small Affordable Housing Energy Grant from ComEd.
Harvest Homes Apartments Affordable Transit-Served Location in Chicago, Illinois NHPF partnered with People’s Community Development Association of Chicago, Inc., a community-based not-for-profit organization, as co-general partners and co-developers on the construction of 36 new 100% affordable family units in Chicago’s East Garfield Park neighborhood. The project is the largest new residential construction in the neighborhood in the last 15 years. The location is one half block from Garfield Park and close to the Garfield Park Conservatory.
The property is just north of the Eisenhower Expressway (interstate 290), connecting residents with job centers in the western suburbs and Downtown Chicago. The Illinois Medical District, another important job generator, is just 2.5 miles east of Harvest Homes. A stop for the Chicago L’s blue line that provides service to the Loop and O’Hare Airport is a about a seven minute walk from Harvest Homes. Phase I was made feasible through a total development cost of $14.1M, made up of $11.9M of LIHTC Equity provided by Enterprise Community Investment, City TIF funds of $1M, $185K of Donation Tax Credits, and $365K of Sponsor financing. A Phase II at the corner of W. Jackson Boulevard and S. Homan Avenue, is proposed to include a three story building, to anchor the corner, enhance the built environment, and improve the quality of life for the community, the future residents and the surrounding neighborhood. The new 60,000 sq. ft. development would contain 48 new one, two, and three-bedroom affordable units, for individuals and families.
NHPF BUILDS CHICAGO
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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