NHP_DeveloperExperienceBrochure2019_NEW

Where You Live Matters

Affordable Housing
Solutions for

Today & Tomorrow:
Blueprint for
Building
Community

Select Snapshots of Our Development Experience

Preserving
America’s
Affordable
Housing

NHPF has earned a reputation for implementing
creative methods to undertake and complete
complex affordable housing projects.

THE NHP FOUNDATION’S of both. In this brochure we have included examples
(“NHPF”) mission is to which best illustrate our experience and mastery of
preserve and develop different development scenarios that include properly
service-enriched housing underwritten properties with conservative financing.
that families and seniors We oversee all aspects of rehabilitation while
can afford. As we enter our attending to the priorities of our residents.
30th year, we continue to
implement creative solutions NHPF divisions, including Asset Management and
that act as a blueprint for solving complex affordable our Affiliate Program, work together to ensure
housing issues. By combining quality affordable seamless transactions. Later on, we tell the story
housing with services designed to improve our of our Resident Services programs, operated by our
residents’ lives, we hope to give generations to come affiliate, Operation Pathways. Operation Pathways
housing that is “more than a roof.” was the first Resident Services program to receive
CORES certification, a program recognizing affordable
When I started with NHPF in 2009, we had 15 housing developers who are part of Stewards of
properties in 10 states. Today, we have 50 Affordable Housing for the Future (SAHF) and who
properties in 15 states and the District of Columbia, must meet stringent standards.
housing over 28,000 residents. Our residents are
families and seniors, and while most are low to The combined strengths of our organization allow us
moderate income, they have real needs. That is to meet the challenges we face from regulatory and
why we are dedicated to providing quality housing economic uncertainty to an influx of new residents
that people can proudly live and thrive in, while also that comes with each generation. We will meet
feeling part of a larger community. these challenges by leveraging our skills to acquire
and preserve new properties, utilize creative
For some of our properties, we partner with not- funding sources, redevelop and redesign at a
for-profit and for-profit organizations, government reasonable cost, and create new homes for renters
agencies, and others who share our goals. This across the nation.
collaboration has allowed us to build a network of
partners who co-invest with us in opportunities and We are passionate, driven, and optimistic about
outcomes that enhance our residents’ lives, opening where we are headed. We have the vision, the
the door to brighter futures. knowledge, the compassion, and the experience to
help construct our blueprint for a successful future.
Oftentimes the renovation or new construction of
communities requires a delicate balance between Our residents, our team, and our business partners
preserving property in the most efficient, cost- complete the equation for success. Please read
effective way while creating a seamless process about our accomplishments and more in this
for our residents in the interim. To best satisfy brochure and by visiting www.nhpfoundation.org.
both goals, The NHPF team utilizes a number of
effective strategies that include resident in-place Richard F. Burns
relocations, full off-site relocations, or a combination President & Chief Executive, NHPF

The NHP Foundation • 1

HARVEST HOMES / ILLINOIS

Our 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.

2 • The NHP Foundation

Since 1989, NHPF has served low
and moderate income Americans from
coast to coast.

Our History of Success

NHPF doesn’t SINCE OUR FOUNDING IN 1989, NHPF has realized extraordinary achievements
just put roofs in the preservation and creation of value-added affordable housing. We look
over people’s forward to the next 30 years and beyond. As a not-for-profit organization, NHPF
heads—we build operates with a charitable mission and business-like financial discipline.
communities.
Our track record from the beginning has led to the preservation of 90 multi-family
properties containing more than 16,000 affordable housing units. That foundation
has allowed us to currently serve more than 28,000 residents in over 8,400
units of affordable housing, much of which has been made possible by using Low
Income Housing Tax Credits, (“LIHTC”).

Since we started 30 years ago, every year we have refined and improved our on-
site resident services. NHPF’s resident services affiliate, Operation Pathways, is
a 501(c) (3) not-for-profit corporation. We have been able to measure meaningful
program outcomes by benchmarking our programs, including an emphasis on
childrens’ academics which have been pre-and post-tested according to the
Brigance Comprehensive Inventory of Basic Skills. We can demonstrate that
nearly 100% of children participating in our summer camps showed no signs of
summer learning loss in math and reading.

NHPF is currently improving the health of our residents in two ways. First,
Operation Pathways was selected as the first Certified Organization for Resident
Engagement & Services (CORES) by SAHF. CORES recognizes organizations that
have “developed a robust commitment, capacity, and competency in providing
resident services coordination in affordable rental housing.” Resident health is an
important component of those services. CORES Certification is one requirement
for an owner of multifamily affordable housing to qualify for Fannie Mae™ Healthy
Housing Rewards–Enhanced Resident Services™ financing incentives.

Second, NHPF is working with social service providers at its properties in St. Louis
and Houston, matching available housing with chronically homeless who need it after
a medical stay. We hope to expand this work throughout our geographic footprint.

Additional advances include implementation of an ambitious “greening” of our
portfolio. Currently, over 75% of our properties are experiencing vast water and
energy savings. The remaining 25% are in the works. We have also converted
nearly 1,000 units to new, highly-insulated roofing systems, and gone smoke-free
in several of our buildings.

The NHP Foundation • 3

For 30 years, NHPF has earned a reputation
for delivering affordable housing—strong
communities that are clean, safe, and “green.”

Our Strengths

Collaboration Proudly standing as one of 12 founding Robust Portfolio 50 properties located in
not-for-profits forming the Housing Partnership Equity Connecticut, District of Columbia, Florida, Illinois,
Trust, an $80M Private Real Estate Investment Trust Louisiana, Maryland, Massachusetts, Missouri, New
for the acquisition and preservation of affordable Jersey, New York, North Carolina, Ohio, Pennsylvania,
housing Tennessee, Texas, and Virginia

Construction Value Totaling over $1B dollars in value Securing Investment Capital Joint venturing to
since 2009. NHPF currently has a pipeline of 30 implement two equity funds for the acquisition of
properties containing over 5,000 units properties to be redeveloped and preserved as
tax credit properties and the commitment of an
Entrepreneurial, Business-oriented Leadership initial investment as the first tranche (focused
Experienced and knowledgeable senior management, on Washington, DC and Houston) of potentially a
and a Board of Trustees with diverse professional $100M fund to buy and hold year 15 LIHTC property,
backgrounds and experience properties approaching year 15, and naturally
occurring affordable housing
Expert, In-house Team Professionals capable of
comprehensively evaluating the factors that go into Strong Balance Sheet Essential for investor selection
successful investment and development decisions and competitive pricing for both debt and equity capital

Longevity and Performance Three decades of Thought Leadership Prominence in media articles and
sustainable, environmentally responsible affordable interviews, an ongoing national survey program (six
housing investment and development; solid portfolio to date), data collection and analysis, well-attended
performance and development track record panel discussions on topical issues, and recognition
of key legislative trailblazers. Our two Symposia have
Meaningful Credit Credentials Through a joint focused on Pay-for-Success and Health & Housing.
venture, established a $10M revolving line of credit We honored Senators Orrin Hatch (R-UT) and Maria
to provide equity for investments in workforce Cantwell (D-WA), whose bi-partisan efforts on behalf of
housing LIHTC continue on, in addition to leaders in affordable
housing such as former HUD Secretary Henry
Measurable Results Our collection and analysis of Cisneros and Congressman Jim Himes (D-CT)
both resident and community data provides the full
picture of the people we are dedicated to serving. Valuable Community Partnerships For housing
Equipped with this data, we evaluate what needs industry non-profits facing financial and
are going unmet, and how best to ensure low to organizational challenges, NHPF’s Affiliate Program
moderate income people have sustainable housing offers development, financial, asset management,
they can afford and the services they need resident services, and fundraising support.

Projection vs. Actual Performance Acquisition
property underwriting that continues to exceed
original projections, in some cases by more than $1M

4 • The NHP Foundation

BAYVIEW TOWERS / CONNECTICUT “At PNC, we are
deeply appreciative
Our Beliefs of our partnership
with NHPF. Whether
NHPF believes in: it’s production
of new housing,
• The dignity of our residents preservation of
existing affordable
• T he value of safe, clean, functional housing or first class
housing that is affordable to low and resident services,
moderate income residents NHPF is making
a difference in
• The inclusion of comprehensive communities across
resident services, providing important the country.”
support for residents of all ages,
building communities, and stabilizing TODD J. CROW, EXECUTIVE VICE PRESIDENT, MANAGER
occupancy TAX CREDIT CAPITAL, PNC REAL ESTATE

• Green, sustainable housing that is
both economical for our residents and
environmentally responsible

The NHP Foundation • 5

Achieving Success COLUMBIA HEIGHTS VILLAGE / DISTRICT OF COLUMBIA

Strategic Priorities

Building on our 30-year industry track record, NHPF is in the midst of executing a
comprehensive Five-Year Strategic Plan through 2022. It is an exciting time for us.
Despite challenging market conditions, we continue to effectively implement many
of our priority initiatives, and are well-positioned for further growth that will allow
us to continue to provide quality affordable housing—building and strengthening
communities.

Our Strategic Plan sets three priorities:

1. C reate and preserve more healthy housing that is affordable
to low and moderate income families and seniors

The need is acute and ongoing. One of the ways NHPF will meet
that need is by bridging the gap between housing and healthcare,
via new collaborative funding models. NHPF is looking at making
housing stock available that includes healthcare service and
entering into financial partnerships that will increase positive
health outcomes for individuals and families

2. M aximize the impact of housing and services for residents
and neighborhoods

Enhancing the quality of life and access to opportunity for
residents and communities by continually upgrading our CORES-
certified services

3. Leverage the resources of NHPF to magnify its impact
Working with partners, funders, our residents, municipalities,
housing finance and other agencies to drive opportunity and
increase funding and innovation. Collaborating with organizations
whose different capabilities complement NHPF resources—talent,
experience, networks, reputation, as well as capital—to reach
aligned goals

6 • The NHP Foundation

EAGLES LANDING / TENNESSEE Achieving Success

Activating the Strategy

NHPF will strengthen its national “By nurturing
and local brands and achieve its and sustaining
goals by: successful thriving
partnerships,
• B uilding on initiatives to develop staff NHPF consistently
and strengthen entrepreneurial culture demonstrates
‘best practices’ for
• Enhancing funding for specialized socially minded
resident services programming groups and proven
experts to develop
• E stablishing updated criteria, process properties, quickly
and data for investment decisions to and efficiently.”
ensure quality and profitability
FRANK L. SULLIVAN, JR.,
• E xpanding tax credit financed new NHPF BOARD OF TRUSTEES
development

• Growing The NHPF Affiliate Program
via strategic alliances and RAD
opportunities

• Increasing our footprint by identifying
additional markets and diversifying our
product mix

• Leveraging external capital to facilitate
planning and optimize use of NHPF cash

• A cquiring some cash-flowing workforce
multifamily properties as opportunities
arise

The NHP Foundation • 7

THE ROUNDTREE RESIDENCES / DISTRICT OF COLUMBIA

Our Business Model

OUR BUSINESS MODEL combines the altruistic aspects of mission-driven work
with the acumen and attention to detail of a professional development entity. We
never lose sight of our primary goals: providing family and senior communities
for thousands of Americans to call home; and acting as trusted stewards of our
critical investment funding.

Our experience speaks volumes on both fronts as we continue providing award-
winning, service-enriched, quality properties for our residents. We are proud that
our properties go beyond “brick and mortar”—enhanced by our active resident
services program, Operation Pathways—which provides a wide variety of services
including education, health and wellness, financial literacy, and enrichment
programs not only for our residents, but also for people in the surrounding
community.

NHPF is fundamentally committed to a process of community building that
strengthens neighborhoods and helps families prosper over time. And we are
proud of our process. We maintain a robust data-gathering operation, the results
of which are at the core of each organization decision.

By focusing on housing as well as the services that individuals and families
need to raise children, remain healthy, and grow financial stability, NHPF’s
properties effectively serve as anchors in each of the cities and towns in which
we are located.

We are equally proud of the relationships we forge and foster with financial
institutions and private owners, commercial banks, faith-based and community
and state organizations and others, all working together to leverage financing,
permanent tax-exempt bonds, and Low-Income Housing Tax Credits (LIHTC),
among other sources, to acquire and preserve our nation’s affordable housing.
Many of these relationships have endured for decades, with institutions
continuing to see the value of partnering with NHPF. Others are newly-minted and
at the beginning stages of relationships that will soon bear fruit.

These investments help provide a more positive future for working Americans and
their families, stimulating growth and stabilizing everyday life in our communities.

8 • The NHP Foundation

Housing / Acquisitions / Preservation
Redevelopment / New Construction

“We congratulate Creating Communities
NHPF for taking
their groundbreaking THE NHP FOUNDATION IS ACTIVELY SEEKING to
ideas and turning acquire properties and partnership interests in
them into solid portfolios of affordable housing, including Section
outcomes. They are 8, FHA insured, mark to market, and expiring LIHTC
actively shaping transactions. While there is a universal need for
neighborhoods affordable housing, we have a preference for major
across the country metropolitan areas.
with their ideas,
passion, and NHPF preserves housing that is a source of pride
commitment. Their and enjoyment for residents and neighboring
efforts have created communities. This sense of purpose inspires us to
bright futures for maintain our properties at a high level through our
communities where professional asset management staff.
safe, secure housing
is needed most.” For 30 years, NHPF has been a leader in the
development and redevelopment of quality
ELLEN ROGERS, SENIOR VICE PRESIDENT, COMMUNITY multifamily rental housing. We have set ourselves
DEVELOPMENT BANK, BANK OF AMERICA MERRILL LYNCH apart by the commitment and care we exhibit in the
physical, social, and financial aspects of each and
every development.

We locate properties that are well-positioned and
possess strong market characteristics. We assess
each property in terms of its physical, economic,
and social environments. In line with our holistic
approach, we initiate public/private partnerships
and join with local businesses and community
organizations to insure the long-term viability and
success of our properties.

The NHP Foundation • 9

PARKCHESTER / DISTRICT OF COLUMBIA

Preserving the Environment
Sound management produces
attractive, sustainable properties
to which we are committed.

NHPF OWNS AND OPERATES ITS PROPERTIES WITH CARE. We not only renovate
and create units of affordable housing, but also maintain them to a high standard
so that they are attractive additions to local communities and neighborhoods,
places where families live with pride and that neighbors see as community assets.

NHPF is committed to “greening” its portfolio and has
taken on several initiatives towards that goal:

• We have constructed and redeveloped units with high-efficiency Energy-Star
appliances

• We have replaced single-pane windows with double-pane, low-E windows
• Housing units have been converted from central boiler/window air-conditioner

systems to high-efficiency central HVAC systems
• In recent years NHPF has replaced flat, built-up roofs and asphalt shingle roofs

with new, highly-insulated roofing systems
• NHPF properties in Washington, DC have solar energy systems that provide

common area electricity and hot water

10 • The NHP Foundation

PARKCHESTER / DISTRICT OF COLUMBIA Preserving the Environment

Water conservation is
a hallmark of NHPF’s
sustainability program.

SINCE THE INCEPTION OF NHPF’S SUSTAINABILITY PROGRAM, portfolio-wide
water usage has dropped by 12%. Striking results can be seen in seven NHPF
properties where water conservation programs were recently implemented. The
combined annual water consumption savings on these seven properties alone is
estimated to exceed 70 million gallons.

NHPF’s “greening” examples include:

A 200-unit property with a major rehab completed including:
• New roofs, windows, appliances, AC units, and plumbing fixtures
• Water usage decrease of 42%
• Electricity usage decrease of 27%
• Gas usage reduction of 30%
A 252-unit property rehab qualified for New Jersey’s WARM Advantage Program,
an energy rebate program run by the New Jersey Clean Energy Program and
administered by Honeywell, which allowed for the installation of qualified energy-
efficient components such as furnaces and hot water heaters
A 94-unit property in Washington, DC achieved the Enterprise Green Communities
certification. Future District acquisitions will include green amenities such as solar
electricity, solar hot water, Energy Star appliances and fixtures, and other storm
water retaining features via our relationship with DC Sustainable Energy Utility
(Green Building Arm of DC Council)
A 200-unit property in Stamford, CT partnered with Eversource to overhaul the
interior lighting and aging heating system of the building by installing LED fixtures
and a high-efficiency boiler and domestic hot water system that will lead to a
projected drop of annual energy consumption by 10%

The NHP Foundation • 11

“In formalizing The NHPF Affiliate Program
the NHPF Sharing knowledge and
Affiliate opportunities across the
Program we not-for-profit housing community
are bringing
energy, IN EARLY 2011, NHPF launched a new initiative in its ongoing and vital work to
relationships, preserve affordable housing—The NHPF Affiliate Program. The goal of the Affiliate
and fiscal Program is to find potential under-resourced mission aligned joint ventures who
know-how, lack the resources, manpower, expertise and/or financial statement to renovate
and expertise existing assets or develop new properties.
to those
who might THESE INCLUDE:
not be able • Affordable housing developers/owners
to continue • Housing finance agencies
without • Housing authorities
it. This is a • Tenant associations
meaningful • Faith-based and other municipal and community organizations
way of
meeting our When these entities seek us out, we undertake projects in our service areas
mission, and where we can be a value-add as a joint venture partner. A friendly introduction is
making an all we need to get a project/collaboration going and initiate a productive, mutually-
even deeper beneficial relationship. To date the Affiliate Program has successfully created or
commitment preserved 14 properties totaling $362M.
to the field
of affordable The Affiliate Program measures success when our joint venture results in the
housing.” creation or preservation of an affordable housing development with support from
the community. That is how we “add capacity throughout the not-for-profit
THOMAS A. CARR, sector.” Many developers partner with not-for-profits to simply get a project done
LIFETIME EMERITUS and earn fees. Not all share our mission or invest in the development’s long-
term sustainability the way the Affiliate Program model does. Those who affiliate
with NHPF gain a strong financial partner, realize cost savings, and acquire the
expertise they need to support, and in many cases grow, their operations. Our
horizon is long term.

THE NHPF’S AFFILIATE PROGRAM PROVIDES:
• Technical and operational assistance to not-for-profit housing organizations to

build their capacity and better serve their communities

• Access to pre-development and investment capital for affordable housing

• Opportunities to joint venture with a financially strong, leading nationally
recognized affordable housing not-for-profit that provides safe, clean housing for
low to moderate income families and seniors

• Hands-on support throughout the process and long after the project has
completed

12 • The NHP Foundation

“I like coming NHPF’s Operation Pathways:
to the Where you live matters . . . and
community how you live matters even more.
center
because of HOW YOU LIVE MATTERS and the programs and services offered to residents are
fun events, critical components of achieving the NHPF mission. Through Operation Pathways,
like the our CORES Certified, service-enriched properties become the heartbeat of the
science fair thriving communities in which they are built.
we had.”
Operation Pathways’ successful approach is based on our philosophy of high-
GENESIS, PROPERTY quality program delivery that is:
RESIDENT
IMPACTFUL: With the goal of improving quality of life, we develop and implement
outcomes-based programming that measures success by monitoring the positive
change in behavior or increased knowledge and skill level of our participants.

Operation Pathways has served approximately 11,000 individuals and
collaborated with over 800 partner organizations to ensure the highest-quality
programs and services.

INNOVATIVE: We believe that it is our responsibility to create powerful learning
experiences in dynamic settings and engage participants in meaningful and
effective programs and services.

IN-HOUSE: The community center’s close proximity to the home eliminates
transportation and cost barriers that often prevent economically-challenged
families from participating in programs and services. Our programming is
customized to address local needs and service gaps and offered right where
residents can easily access.

HOLISTIC: We offer programming that meets a variety of needs through our four
pathways: Academic Achievement, Healthier Living, Financial Stability, and Aging
in Place.

The NHP Foundation • 13

Operation Pathways

EACH OPERATION PATHWAYS PROGRAM is managed by an on-site resident “The community
services coordinator who serves as a program manager for the site and a center makes
relationship manager for our community partners. The resident services math and
coordinators are trained professionals who bring their own unique creativity reading become
and innovation to Operation Pathways’ structured, evidence-based programs. creative and
Our resident services coordinators truly become the heartbeat of our more exciting
communities and, through their expertise, NHPF’s Operation Pathways for kids. The
programs change lives. lessons get
brought to life!
RESIDENT INVOLVEMENT is a hallmark at all levels of Operation Pathways’ The afterschool
leadership and decision-making. At each property, an Operation Pathways program
Community Council (OPCC) meets regularly to discuss residents’ changing encourages my
needs and evaluate the effectiveness of Operation Pathways’ programs and granddaughter
services. Residents are also given opportunities to take on leadership roles to see more in
and responsibilities and make a difference in their community. By engaging and her homework
empowering residents, Operation Pathways helps to improve their quality of life. and give it
more effort.”
COMPREHENSIVE PROGRAMMING offers core components that are
implemented to meet the needs of the residents at each property. While the GLORIA, PROPERTY
demographics of each community vary, we tailor our proven programming to meet RESIDENT
local needs. At our seniors properties, these components are implemented with
the goal of maintaining a high quality of life for seniors as they age-in-place. At our
family properties, we offer content for youth and parents to address educational
and health needs.

Through the work of Operation Pathways, residents are presented with concrete
opportunities to advance their future. It is this opportunity-driven focus that is
central to The Operation Pathways philosophy. Positive outcomes occur when
participants choose the pathways to advance and enrich their own lives.

14 • The NHP Foundation

Resident Services Operation Pathways

PATHWAY TO PATHWAY TO PATHWAY TO PATHWAY TO
ACADEMIC HEALTHIER LIVING FINANCIAL STABILITY AGING IN PLACE
ACHIEVEMENT promotes lifestyle educates residents engages residents
promotes academic choices that lead to in sound financial in NHPF’s senior
success and lifelong physical, psychological, practices to increase communities by
learning as a means and emotional well- income, decrease providing programs
to break the cycle of being for individuals expenses, and and services that give
poverty. Since the and their communities. build assets. The residents the tools
beginning, Operation Our programming program also includes they need to ensure
Pathways’ afterschool offers a holistic workforce development economic security,
programs have served approach that focuses components to prevent illness, improve
766 children with the on several essential help participants health, understand their
program growing at an areas of health and increase their skills legal rights, and live
average rate of 25% wellness, including: and secure higher in a safe environment
year over year since physical fitness, stress paying employment while also providing
2015. Summer camps management, access to opportunities. Close to the education and
have provided over healthcare, and lifestyle 5,000 individuals have technology skills to
550 children with an and diet choices. Since participated in financial improve overall life
educationally enriched Operation Pathways education programming satisfaction.
program. On average, introduced the Pathway and around 600
91% of children showed to Healthier Living, over participants in America SERVICE
no sign of summer 1,500 participants Saves Week have saved COORDINATION
learning loss in math, have increased their more than $30,000 is a key aspect of the
with the program intake of fruits and over the course of the work of Operation
improving scores by vegetables and over program offering. Pathways. This is the
approximately 9% since 800 individuals have one-on-one work we
it was implemented. In participated in physical do with families and
the aggregate, 89% of fitness programming. individuals to assist
children have shown no Additionally, some 50 them in identifying
sign of summer learning individuals have quit areas of need and
loss in reading year over smoking cigarettes due connecting them with
year. This program has to Operation Pathways services and resources
grown by 19% since programs. in their communities.
inception.

The NHP Foundation • 15

FOXWOOD MANOR / PENNSYLVANIA

Developer Experience Highlights
Of our 90 affordable properties
preserved over our history,
these examples best illustrate
our expertise in different
development scenarios.

16 • The NHP Foundation

BAYVIEW TOWERS BENNING HEIGHTS APARTMENTS BOLTON NORTH Developer Experience Highlights
300 Tresser Boulevard 4807 Alabama Avenue 1600 West Mount Royal Avenue
Stamford, CT 06901 Washington, DC 20019 Baltimore, MD 21217
200 units 148 units 209 units
Built in 1973, Bayview Towers was In Washington, DC, the Benning Bolton North is a 209-unit senior
in need of renovation. The financing Heights Tenants Association (BHTA) housing high-rise located close to
included tax-exempt bond, seller learned that their building was Baltimore’s scenic Inner Harbor.
financing, Federal LIHTC equity, being sold. The market price for the This senior-housing community
existing property reserves, and property would likely make rents is situated in the historic and
Connecticut Housing Contribution unaffordable. Using the powers thriving Bolton Hill neighborhood, a
Credit contributed by Connecticut afforded them under the District of community known for its tranquil,
Light and Power. Columbia’s TOPA, BHTA partnered tree-lined streets populated by
with NHPF to have the market- restored mid to late 19th-century
The major work done in the based purchase contract assigned three- and four-story townhouses,
full on-site relocation renovation to them and acquire the property. urban mansions, churches, and
included kitchen and bathroom Benning Heights Apartments is a public buildings.
upgrades, energy efficient 148-unit all brick, garden-style,
appliances, new flooring, replacing walkup apartment community. Bolton North, purchased with
domestic and sanitary plumbing our development partner, Urban
lines, new windows, new electrical The substantial rehab, which Atlantic, through the PNC fund
panels, new AC units, new roofs, NHPF has managed as a full in 2014, underwent a moderate
converting a portion of the units relocation, includes complete rehabilitation, handled as a
to be handicap accessible, replacement of all kitchens and resident in place relocation. It
exterior concrete repairs and re- bathrooms, HVAC equipment, included four primary scopes of
enforcements, energy efficient hot water heaters, windows, and work: windows in the entire building
lighting, and a new look for the flooring. Substantial work was were replaced from the inside; the
exterior of the buildings. done to the building exteriors, floor fire sprinkler system was extended
joists were repaired, solar panels into every unit; basic unit work
and green areas were installed on was done in about a third of the
certain roofs, bio-retention bonds units (e.g. replacing light fixtures,
were added for storm water runoff, cabinets, and appliances); and 11
and eight units were converted into units were converted into barrier-
barrier free (ADA) units. free units.

The NHP Foundation • 17

Developer Experience Highlights CALVIN MOWBRAY PARK & CLEME MANOR FOREST PARK
STEPHEN CAMPER PARK 5300 Coke Street 3708 Garden Oaks Drive
700 Weaver Avenue Houston, TX 77020 New Orleans, LA 70114
Cambridge, MD 21613 284 units 284 units
190 units Upon announcing a planned $35M Due to severe damage caused by
The Housing Authority of the City of in streetscape improvement, Hurricane Katrina, NHPF undertook
Cambridge, Maryland (CHA) made multifamily construction, single a substantial rehab of this 280-
the decision to participate in the family rehabilitation, and renovation unit property utilizing Section 42/
Rental Assistance Demonstration of the Community Center for LIHTC (100% set-aside at 60%
(RAD) Program administrated the Greater Fifth Ward Finnegan AMI including 71 Project-based
by HUD in order to substantially Park neighborhood, the city of Section 8 assistance bonds) which
rehabilitate this aging portfolio of Houston worked closely with NHPF commenced in March 2007.
190 units which NHPF managed as to redevelop Cleme Manor via The rehab was phased with the
an on-site relocation. HUD created an on-site resident relocation. first buildings placed-in-service in
the RAD Program to foster public Most importantly, NHPF’s December 2007 and substantial
and private partnerships that are ongoing renovations and security completion achieved on the last
capable of completing renovations enhancements have resulted in a apartments in March 2008.
on a large scale. As a result, 27% decrease in crime in the area,
CHA partnered with NHPF and a according to The City of Houston. During the construction process,
local developer to undertake a which required all residents to
comprehensive rehabilitation of the Originally constructed in 1970, relocate, NHPF made its Texas and
property with LIHTC. Cleme Manor is situated on 12.8 Louisiana properties available for
acres east of downtown Houston those displaced by the hurricane.
Calvin Mowbray Park & Stephen in the Greater Fifth Ward-Finnegan The property had 90% occupancy in
Camper Park were purchased in Park neighborhood. There are May 2009 and was able to convert
2016 and have been substantially a total of 284 residential units its construction loan to permanent
renovated. The property was built in Cleme Manor’s 24-building debt in September 2009.
in 1972 and 1973 by the Housing garden-style community. One of
Authority of Cambridge and Houston’s most improved areas, The property has an on-site
contains a total of 88 buildings Cleme Manor is part of the City’s Community Center staffed by
featuring 190 units of one- to five- Tier 1 redevelopment zone, an professionals and offers structured
bedrooms. area which has received targeted programs for all ages including,
city investments. Cleme Manor but not limited to, after school
The property’s updated Apartments is an integral part of assistance, computer training,
units feature kitchen upgrades, the revitalization of the community. and health/wellness activities.
installations of washers and dryers, These programs are free of charge
bathroom upgrades, and much In 2014, NHPF’s acquisition and open to all members of the
more. Currently the rehab work is and rehabilitation of Cleme Manor community, not solely residents of
100% complete and the tax-exempt played a major role in keeping the property. In August 2010, the
bonds have been paid off. officials from closing nearby property was selected by KaBOOM!
Henderson Elementary, ensuring as the site for one of its community
neighborhood children could attend built playgrounds.
a school close to home.

18 • The NHP Foundation

FOXWOOD MANOR HARVEST HOMES APARTMENTS HOLLYBUSH GARDENS Developer Experience Highlights
2180 Veterans Highway 3520–3542 West Fifth Avenue & 252 Hollybush Gardens
Levittown, PA 19056 318–322 S. St. Louis Avenue Glassboro, NJ 08028
304 units Chicago, IL 60624 252 units
The 304-unit property was in good 36 units Having been built in two phases
overall condition, but it was in need Created through the NHPF Affiliate from 1968 to 1972, this 252-
of occupied, substantial upgrades Program, the award-winning unit property was in need of
to extend its useful life. Occupancy Harvest Homes Apartments is a a substantial renovation. The
prior to the rehab was 97%. newly constructed four-building refinancing plan utilized tax-exempt
family apartment complex in the bond permanent debt, federal
The scope of work for the East Garfield Park neighborhood LIHTC equity, and pre-existing
in-place rehab included installing of Chicago. Harvest Homes is the property reserves.
new individual HVAC systems realization of a plan initiated by the
and hot water heaters; replacing People’s Community Development NHPF created a new 2,100
any older or unsightly kitchen Corporation of Chicago, Inc. square foot community center built
appliances, cabinets and flooring; (“PCDAC”) and created with NHPF to house the resident services
replacing all bathroom vanities as part of a LIHTC partnership. programs that are run for the
and fixtures; replacement of tubs, benefit of the property’s residents.
toilets and bathroom flooring where Overseen entirely by NHPF,
needed; completing major drainage construction of the 36 new The major work done in the
repairs; and building a new 600 100% affordable family units on-site renovation also included
square foot community center in Chicago’s East Garfield Park kitchen upgrades (new cabinets,
for Resident Services. We also neighborhood renders it the largest countertops and appliance
substantially rehabbed 16 units for new residential construction in the upgrades); bathroom upgrades;
conversion to ADA accessible. neighborhood in the last 30 years. replacement of all electrical panels
and smoke detectors; new HVAC
The construction loan closed The $14M development units; the addition of ADA access
eight months after we submitted is a result of a joint venture ramps; new individual hot water
the initial application to PHFA and between PCDAC and NHPF that heaters to replace central boilers;
the rehab period lasted 16 months. was funded by a variety of both new waterproofing and insulation of
This included doing significant private and public sources, such all crawl spaces; and replacement
work in addition to the original as LIHTC, the City of Chicago’s of all interior lighting with new
rehab included in the construction Department of Planning and energy efficient fixtures.
contract, using the contingency Economic Development, the State
funds and cost savings. of Illinois Department of Commerce
and Economic Opportunity, J. P.
Morgan Chase Bank, the Chicago
Community Loan Fund, Enterprise
Community Investments, Inc., and
NHPF. City support for the project
included $1M in Tax Increment
Financing (TIF) and approximately
$1.4M in low-income housing and
donation tax credits that generated
$12.7M in equity for the project.

The NHP Foundation • 19

20 • The NHP Foundation

RENDERING BY STUDIO 97 BEFORE

Developer Experience Highlights AFTER

MARK TWAIN HOTEL
111 W. Division Street
Chicago, IL 60610
152 units
NHPF acquired and secured financing to fully renovate The
Mark Twain, an historic property, to preserve its affordability
and fully renovate and reposition it in a fast growing and
gentrifying neighborhood of Chicago in May 2016 pursuant
to the Chicago’s SRO (Single Room Occupancy) Preservation
Ordinance.

The Mark Twain was built as a five-story hotel and
continues to operate as an SRO hotel. The property contains
152 hotel rooms with ground floor commercial retail space
and a signage lease, totaling over 58,000 square feet.

Comprehensive renovations to the property will
commence and complete in 2019, and require a full
relocation of its residents. Upon completion, the property
will serve its current and future low-income residents with
148 fully renovated accessible small studio units, resident
services, and amenities such as a fully-restored ground floor
parlor as a Community Room with a new community kitchen,
reformatted management office space, a new outdoor roof
deck, and a new larger elevator.

The $53M preservation project is financed by the city
of Chicago’s tax-exempt bonds, equity from Low Income
Housing and Federal Historic tax credits, 95% Project-Based
Vouchers, and the city’s HOME funds.

The NHP Foundation • 21

Developer Experience Highlights PARKCHESTER APARTMENTS PLAZA BORINQUEN APARTMENTS SHIPS’ COVE
2704 Wade Road SE 471 East 137th Street 130 Canal Street
Washington, DC 20020 Bronx, New York 10454 Fall River, MA 02721
92 units 88 units 201 units
Parkchester is a newly renovated Plaza Borinquen was designed NHPF acquired Ships’ Cove as part
94-unit LIHTC property (with one unit and constructed to fundamentally of its ongoing mission to preserve
used as the leasing office) that was alter the relationship between affordable housing units at below
originally purchased in 2015 under affordable housing residents and market rate for economically
the District of Columbia’s Tenant their surroundings. NHPF acquired challenged individuals and families.
Opportunity Purchase Act (TOPA). the 88-unit townhome style, Section Ships’ Cove is an 18-story family
Parkchester Tenant Association 8, affordable rental property in the apartment complex with waterfront
partnered with NHPF to acquire the Mott Haven section of the Bronx, views in central Fall River.
building. NY to upgrade the property and
safeguard its affordability. It was built in 1971 and, while
Originally constructed in 1978, various components had been
Parkchester Apartments is situated NHPF’s resident-in-place rehab updated over the years, a number of
on six acres of well-maintained included replacing public hallways systems and finishes were in need
and landscaped grounds. The with patios and a lobby with a of replacement or repair when it was
substantial rehab, which NHPF has courtyard. The majority of the acquired by a LIHTC partnership
managed as a full off-site resident units are three- and four-bedroom led by NHPF. The acquisition and
relocation, included complete duplex and triplex apartments, rehabilitation financing included
replacement of all kitchens and each of which has its own separate a tax-exempt Freddie Mac loan, a
bathrooms, HVAC equipment, entrance and private patio. bank bridge loan, seller financing,
windows, and flooring. Substantial equity from the sale of LIHTCs, and
work was also done to the building Plaza Borinquen’s combination of property reserves.
exteriors, solar panels and green pride of ownership, absolute privacy,
areas were installed on certain and public intercourse was one of The major work, which NHPF
roofs, bio-retention bonds were the first developments to transform handled as in-place renovation,
added for storm water runoff, and affordable housing into a home. included extensive repairs and
five units were converted into barrier The site is served by Operation refinish of the building exterior,
free (ADA) units. Pathways Resident Services. replacement of the main electrical
switchgear, upgrades to kitchens
and bathrooms, new flooring,
renovation of most common
area spaces, elevator upgrades,
ventilation improvements, plumbing
repairs, converting a portion of the
units to be handicap accessible,
energy efficient lighting, repairing
and resealing the parking lot, and
a new, significantly more powerful
emergency generator, and other life
safety improvements.

22 • The NHP Foundation

ST. LUKE’S PLAZA TAKOMA PLACE APARTMENTS THE ROUNDTREE RESIDENCES Developer Experience Highlights
5602 Enright Avenue 6676 Georgia Avenue NW 2515 Alabama Avenue SE
St. Louis, MO 63112 Washington, DC 20012 Washington, DC 20020
216 units 105 units 91 units
This on-site rehab involved moving NHPF recently secured financing Award-winning Roundtree
all residents out of 216 units into from the DC Department of Housing Residences is a ground-up
other buildings as their entire and Community Development construction 91-unit senior
building was being renovated. (“DHCD”), R4 Capital, and R4 development utilizing Section 42/
The work included installing Capital Funding for a total of LIHTC funding. Along with LIHTC
new individual HVAC systems; $39.4M to redevelop and preserve equity, the project was financed
upgrading kitchens where needed; Takoma Place. with tax-exempt bonds, NIF/Solar
new bathrooms, new carpet and Energy grants, and seller financing.
paint throughout; installing new Constructed in 1953, the
roofs and front entrances; doing Takoma Place Apartments are Units are only available to
major tuck pointing; repairing adjacent to the Walter Reed Army seniors making 60% or less of DC’s
balconies; replacing waste lines; Hospital Campus along a gentrifying area median income (AMI), with 20
and renovating/expanding the corridor in the nation’s capital. units set aside for seniors making
management office. 50% or less of DC’s AMI.
In 2017, NHPF worked with
The rehab was completed the Takoma Place Apartments The building is built to Enterprise
utilizing tax-exempt bond debt, Tenants Association to acquire Green Community standards and
Federal and State LIHTC equity, the property using the District of includes a solar array and partial
and Federal and state Historic Columbia’s Tenant Opportunity to green roof in addition to other
Tax Credit (“HTC”) equity. Upon Purchase Act (TOPA). NHPF and the energy saving features.
completion of the renovations, Tenants Association partnered to
residents typically moved back undertake a $31.7M rehabilitation
to their original unit, unless they of the property which required
requested a transfer to another a majority of residents to fully
unit, and that transfer was usually relocate and some to remain on-
accommodated. site. The rehab used LIHTC as
well as subsidies provided by DC
Government. Financing and funding
was also provided by Community
Capital, Local Initiatives Support
Corporation (LISC), and the seller.

Takoma Place consists of 7 four-
story apartment buildings. Changes
NHPF made increased the overall
unit count post-renovation to 106
leasable units versus 104 leasable
units before renovation.

The NHP Foundation • 23

Developer Experience Highlights WALNUT SQUARE WASHINGTON DODD APARTMENTS WOODMONT CROSSING
8501 I-10 Service Road 587 Carroll Street APARTMENTS
New Orleans, LA Orange, NJ 2327 Good Hope Road SE
209 units 300 units Washington, DC
The original structures were Having been built in the early 176 units
demolished and the property 1960s, this 300-unit property was Woodmont Crossing, in Southeast
rebuilt due to severe damage in need of a substantial renovation. Washington, DC is a 12-building,
caused by Hurricane Katrina. Notice The refinancing plan utilized tax- 176-unit garden-style LIHTC
to proceed was issued in August exempt bond permanent debt, property that completed a moderate
2007 and substantial completion Federal LIHTC equity, and pre- rehabilitation at the end of 2018.
was achieved in June 2009 with existing property reserves.
occupancy beginning in July 2009. The Woodmont Crossing United
The major work done in the on- Tenant Association selected
The property achieved 90% site renovation included kitchen NHPF in 2017 to partner on the
occupancy in December 2009 and upgrades (new countertops and acquisition and rehabilitation as
was able to convert its construction full appliance upgrades); bathroom part of the DC Tenant Opportunity
loan to permanent debt in March upgrades; replacing all electrical to Purchase Act (TOPA) and
2010. panels and smoke detectors; new the acquisition was closed
HVAC units; the addition of disabled simultaneously with the new LIHTC
The property has an on-site access ramps; new individual hot rehabilitation financing. The $44.6M
Community Center staffed by water heaters to replace central transaction was made possible
professionals and offers structured boilers; new waterproofing and through a loan from the District of
programs for all ages including insulation of all basements; and Columbia Housing Finance Agency
but not limited to after school replacement of all interior lighting (DCHFA) financed through that
assistance, computer training, with new energy efficient fixtures. agency’s first time participation in
and health/wellness activities. U.S. Department of Housing and
These programs are free of charge Urban Development (HUD) Level 1
and open to all members of the 50/50 Risk Share 542 (c) program.
community, not solely residents of LIHTC Equity financing was provided
the property. by Royal Bank of Canada (RBC).

The property also has in NHPF acquired the property in
excess of 60 units designated as 2018 and began a rehabilitation
workforce housing with rents set at program in which 85% of residents
the 60% AMI level but no restriction remained in-place, replacing HVAC
on income. systems, renovating bathrooms and
kitchens, increasing the number of
units for residents with disabilities,
and some site repairs.

24 • The NHP Foundation

ST. LUKE’S PLAZA / MISSOURI

Financial Partners, Donors, and Sponsors

Mansur Abdul-Malik Ralph Boyd, Jr. Cogency Global, Inc.
Abe Wood Inc. Charlene Brisco CohnReznick LLP
Robert Abrams Al Browne Columbia Baptist Church
Mecky Adnani Bucks County, PA Conifer Realty, LLC
Affordable Housing Advisors Bucks County Community Foundation Connecticut Housing Finance Agency
African Heritage Teachers Stipend Bucks County Food Bank Connecticut Housing Tax Credit
Ramon Aggabao Bucks County Opportunity Council
AGM Financial Services Diane & Richard Burns Family Contribution Program
AHC Inc. Bush-Clinton Katrina Fund Connecticut Light & Power
Alphonse Diaz Architects PC Caleco Crenshaw Communications
Sunny & Bill Alsup Cannon Heyman & Weiss LLP Cushman & Wakefield
Amazon Foundation Capital One Darien Community Fund
Amerigroup Foundation Carmody Torrance Sandak & Hennessey LLP DC Department of Housing and
Amerigroup Corporation Leslie & Tom Carr
Pamela Anderson-Livingston Celadon Partners Community Development
Angelina & Huey Wilson Foundation Center for Health DC Housing Finance Agency (DCHFA)
Applegate & Thorne-Thomsen PC Frank Cerbini Delaware Valley Mental Health / Foundation
Archdiocese of Philadelphia CHANGE All Souls Housing Corporation
Asset for Independence IDA (HHS) Children and Family Legacy Fund Community Partnership
AT&T Foundation Children and Family Services of Jacksonville Deutsch-Khanna Family Fund
Azar Foundation Chipotle Patricia Diaz Dennis
Pauline Baculi Clause Chow District of Columbia Housing and Community
BancorpSouth CIH Properties, Inc.
Bank of America Merrill Lynch Cinnaire Development Fund
Scott Barkan Citi Community Capital District of Columbia Housing Finance Agency
Josefina Barredo Citi Group Foundation District of Columbia Sustainable
BBV Compass Foundation City of Arlington Housing Rehabilitation
BBVA Compass Energy Utility
Beacon Communities Program Dollar General Literacy Foundation
Becker & Becker City of Chicago Dominium
Bellwether Enterprise City of Falls Church CDBG Draper & Kramer, Incorporated
Benchmark Title Agency LLC City of Falls Church Community Service Fund Neal Drobenare
Berk Foundation City of Houston Shay Dugan
Best Buy City of Orange NJ Dulin United Methodist Church
Best Buy (Children’s Foundation) City Real Estate Advisors (CREA) Eagle Bank
Bocarsley Emben Cowan Esmail & Arndt LLP Clark Construction Group ECS Capitol Services, PLLC
Bottom Dollar Food Store CMQ Flooring Edgewood Management
Mary Cochuico EDI International
Energy Wise
Enterprise Community Partners
Enterprise Real Estate Capital / Bellwether

Enterprise

The NHP Foundation • 25

Financial Partners, Donors, and Sponsors Epic Insurance Brokers & Consultants Nancy & Donald Hess Linn-Mathers Inc. General Contractors
Essex County, NJ Hessel, Aluise & Neun, PC and Builders
Every Kid a King Foundation Hewlett Packard
Exxon Mobile Hillcrest Foundation Livi Centeno-Mcnulla
Fannie Mae John Hoffer Local Initiative Support Corporation (LISC)
FCHC: A Virginia Community Development Holland & Knight LLP Locke Lord LLP
Home Depot Foundation Louisiana Disaster Recovery Foundation
Corporation Homefree-USA Louisiana Housing Finance Agency
Federal Capital Partners Lisa Hounshell Louisiana Pizza Kitchen
Federal Home Loan Bank of Atlanta Housing & Urban Development Louisiana Recovery Authority & Louisiana
Federal Home Loan Bank of Dallas Evelynn Howell
Hudson Housing Capital Office of Community Development
Financial Partners Iberia Bank Mortgage Company Louisiana Local Government Environmental
John Michael Feehan Industrial Development Authority of the
Fifth Ward Redevelopment Authority Facilities and Community Authority
City of St. Louis MO Low Income Investment Fund (LIIF)
City of Houston Inspire Credit Union Jeff Macdonagh
Tanner Finnan JBG Smith MaCrostie Historic Advisors
First Book Philadelphia Corey John Marcus & Millichap AHA
First Federal of Bucks County Jordan Johnson Tiffany Martinez
Eileen Fisher Beverly Johnson Carol Ann Mason
Food Bank of South East Jersey Jonathan Rose Companies Mass Mutual
Christy Foreman Jones Lang LaSalle Multifamily, LLC McCormack Baron Asset Management
Foundations Community Partnership–BIIG James A. Joseph Merchants Capital
Fox Pool Management JPMorgan Chase & Co. Metlife Foundation
Freddie Mac Corporation JPMorgan Chase Foundation Michael Franklin
Freddie Mac Foundation Jennifer Ju Missouri Housing Development Commission
Friedman LLP Julia & Christopher Sawyer Fred Mitchell
Frost Foundation Junior League of Baton Rouge Morris, Manning & Martin, LLP
Patrick Fry Kaboom! Joyce Moskovitz
Gallagher Evelius & Jones LLP Kaiser Permanente NAHMA Educational Funding
Goldstein Hall PLLC Katten Muchin Rosenman LLP National Housing & Rehabilitation
Carlos Gonzales Kelliher & Salzer, LLC
GPOA Foundation Kiss Electric LLC Association (NH&RA)
Greater New Orleans Foundation Klein Hornig LLP National Housing Trust
Stephen Green Philip Lanicho National Housing Trust Community
Gulf Youth Action Corps / Americorps Latter & Blum
Dawn Gutierrez LEDIC Realty Company, LLC Development
Hallkeen Management Jay Legaspi National Multifamily Housing Council
Hamel Builders of Washington DC Kevin Lewis Neighbor Works America
Carolyn Hardaway Eryka Lindsey New Jersey Housing and Mortgage
Healthy City Fall River
Heron Foundation Finance Agency
New Jersey Shares
26 • The NHP Foundation New York City Housing Development

Corporation

Niagara Cares / Niagara Bottling Sam’s Club The Sirus Fund Financial Partners, Donors, and Sponsors
No Child Hungry Cherie Santos-Wuest The Wachovia Foundation
Novogradac & Company LLP Sarabi Group, LLC Ron Tienzo
Oldways Saul Ewing Arnstein & Lehr LLP Tomlinson For State Senate
Oldways Taste of African Heritage Grant SBC Foundation Triad Housing Corporation
Olive Branch Consulting, Ltd. Share Our Strength Tulane University
Susan & Keith Orgeron Sharps Landscaping, Inc. U.S. Bancorp Community
Elizabeth Ortmann Shez Ent. Inc. (SUBWAY)
John Ortmann Shinda Management Corporation Development Corporation
Andrew Pagtakhan Shoprite U.S. Bank
Jessie Pagtakhan Jamie Smarr United Way of Houston
Gary Parkinson Smith, Currie & Hancock LLP United Way of Metro Dallas
Avani Patel Ian Sobel United Way of Western CT
Pembrook Capital Management Sodexo Remote Sites Urban Atlantic
Pennsylvania Housing Finance Agency Souther University US Bank
Peoples United Community Foundation Joseph Sperlazzo US Department of Housing and
Pepper Hamilton, LLP St. John’s Community Foundation, Inc
Ethel & T. Peyton Robinson State Farm Urban Development
Philabundance State of Louisiana / Office of Community Thomas Vaccaro
PNC Bank Vesta Corporation
PNC Foundation Development / Disaster Recovery Unit Walker & Dunlop
PNC Real Estate Kendra Stensven Walmart
Preserving Louisiana Affordable Housing Stifel Amanda Walz
Prince George County Stratford Capital Group Joyce Walz
Tim Pryor Sugar Creek Capital Washington Gas & Light
Qatar Katrina Fund Frank L. Sullivan, Jr. WC Smith
Andrea Quimoyog Suntrust United Way Campaign WCS Construction, LLC
R4 Capital LLC TCAM Asset Management Wells Fargo
Clarita Ramos Texas Department of Housing & Community Ken White
RBC Capital Markets Mary & Joseph Wiedorfer
RED Capital Group Affairs Sam Wildhallm
Red Stone Equity Partners, LLC The David and Minnie Berk Foundation Barbara W. Wolf
Redniss & Meade The Ford Foundation Amanda Wu
Reginelli Pizzeria The Frost Foundation Carrie Yeager
Related Companies The John D. and Catherine T. MacArthur
Renew Our Music, INC.
Reno & Cavanaugh, PLLC Foundation
Meade Rhoads The Little Fund That Could
Pamela Robinson The MacArthur Foundation
Rogers Yogodzinski LLP The Meadows Foundation
The Partnership, Inc. (TPI)
The Prudential Financial
The Prudential Foundation

The NHP Foundation • 27

PLAZA BORINQUEN APARTMENTS / NEW YORK

Board of Trustees, Officers & Next Generation Leaders

BOARD OF TRUSTEES OFFICERS NEXT GENERATION LEADERS

Ralph F. Boyd, Jr., Chair Richard F. Burns Mansur Abdul-Malik
Chief Executive Officer, President & Chief Executive Officer & Trustee Assistant Vice President, Development
ULI / Americas The Urban Land Institute;
Former Assistant Attorney General of the Mecky Adnani David Eubanks
United States Senior Vice President, Acquisitions Assistant Project Manager

Robert H. Abrams Scott Barkan Carlos A. Gonzales
Director & Founder, Program in Real Vice President, Development Assistant Vice President,
Estate (retired), Asset Management
Cornell University; Karen Caldwell
Founder & Former President, Chief Financial Officer & Treasurer Corien John
Abrams Benisch Riker, Inc. Analyst
Frank P. Cerbini
Richard F. Burns Vice President, Acquisitions Sheffin K. Joseph
President & Chief Executive Officer, Senior Acquisitions &
The NHP Foundation Neal T. Drobenare Development Analyst
Senior Vice President, Acquisitions
Thomas A. Carr, Lifetime Emeritus Ade Odina
Managing Partner, Patrick J. Fry Asset Manager
Federal Capital Partners; Senior Vice President, Acquisitions &
Former Chairman & CEO, Development Tim Pryor
Carr America Realty Corporation Senior Acquisition Manager
Stephen M. Green
Glynna Christian Chief Operating Officer & Chief Meade Rhoads
Co-Head of Global Technology Investment Officer Project Manager
Transactions,
Orrick, Herrington & Sutcliffe LLP John G. Hoffer Michael D. Simon
Vice President, Project Management Senior Finance Manager
Patricia Diaz Dennis
Senior Vice President & Assistant Fred C. Mitchell Ian Sobel
General Counsel (retired), Senior Vice President, Asset Management Assistant Vice President,
AT&T; Asset Management
Former Chair of the Board, Gary J. Parkinson
Girl Scouts USA Chief Accounting Officer Kendra C. M. Stensven
Assistant Vice President, Development
Cherie Santos-Wuest Eric W. Price
Managing Partner, Senior Vice President
Celadon Venture Advisors;
Former Director, Jamie A. Smarr
Global Social & Community Investing Senior Vice President, Affiliate Program
TIAA-CREF
Thomas G. Vaccaro
Sheldon L. Schreiberg Senior Vice President, External Affairs &
Special Counsel, Corporate Secretary
Lobel Novins & Lamont, LLP
Kenneth D. White
Frank L. Sullivan, Jr. Vice President, Resident Services
Co-Founder (retired),
Clarion Partners; Joseph P. Wiedorfer
Member, Senior Vice President, Acquisitions &
The Center Square Investment Development & Assistant Corporate
Management Board of Directors Secretary

Barbara W. Wolf
Vice President, Philanthropy

28 • The NHP Foundation

The NHP Foundation is a 501(c)(3)
organization governed by a Board
of Trustees. It is committed both
to its mission and to sound fiscal
management of all its properties
and of its overall administration.
It has extensive experience
in creating and maintaining
affordable housing. Gifts are
deductible for income tax
purposes to the extent allowed
by law.

NEW YORK HEADQUARTERS 122 EAST 42ND STREET, SUITE 4900, NEW YORK, NY 10168 • 646.336.4940
WASHINGTON, DC 1090 VERMONT AVENUE, NW, SUITE 400, WASHINGTON, DC 20005 • 202.789.5300
CHICAGO 150 N. MICHIGAN AVENUE, SUITE 2800, CHICAGO, IL 60601 • 312.216.5103

nhpfoundation.org