ACQUISITION / PRESERVATION / REDEVELOPMENT

Calvin Mowbray Park &
Stephen Camper Park



ACQUISITION / PRESERVATION
TOTAL COST

$ 11,000,000      Property was acquired through a 98-year capital lease

DESCRIPTION
Calvin Mowbray Park and Stephen Camper mix includes all units at or below 60% AMI. All of the current households will receive rental subsidy through a project-based housing contract with HUD.

FINANCING
Secured financing and funding or this project included:
$ 12,700,000HUD 221(d) (4) Mortgage
$ 9,975,000 Federal Low-Income Tax Credits (LIHTC’s)
$ 900,000 Energy Loan
$ 8,880,000 Deferred Sale Price


REDEVELOPMENT
TOTAL COST

$ 32,455,000

DESCRIPTION
With the property in need of massive renovation, NHPF and its partners began a two-year redevelopment project including the installation of kitchen and bathroom upgrades, new energy efficient lighting and HAC, washers and dryers, the repair of driveways and sidewalks, and other improvements.

FINANCING
Secured financing and funding or this redevelopment project included:
$ 12,700,000HUD 221(d) (4) Mortgage
$ 9,975,000 Federal Low-Income Tax Credits (LIHTC’s)
$ 900,000 Energy Loan
$ 8,880,000 Deferred Sale Price




FOLLOW OUR COMMUNITY BUILDING

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NHPF’s diverse income and rent structure provides housing for a range of households from low to moderate income. Notwithstanding income levels, the same level of amenities and access to our services is offered to all residents.

This property is just one example of how NHPF’s commitment to affordable housing has helped American families.

ABOUT THE NHP FOUNDATION
Founded in 1989, The NHP Foundation strives to provide quality affordable multi-family housing and resident services for low to moderate income families. Since 1994, NHPF has acquired and preserved 78 properties, totaling 13,616 units, located in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 47 properties, totaling 8,063 apartment units, in 15 states and the District of Columbia. NHPF also provides service programs to approximately 20,000 community residents.