NHPfoundation - Preserving America's Affordable Housing

THE NHP FOUNDATION Affiliates Program
Sharing Knowledge and Opportunities Across the Nonprofit Housing Community

IN EARLY 2011, The NHP Foundation (NHPF) launched a new initiative in its ongoing and vital work to preserve affordable housing—The NHPF Affiliate Program.


The goal of the Affiliate Program is to find under-resourced mission aligned affordable housing developers/owners, housing authorities, tenant associations, and other municipal and community organizations who lack the resources, manpower, expertise and/or financial statement to renovate existing assets or develop new properties.


Once these entities are found, we look to undertake projects in our service areas where we can be a value-add as a joint venture partner. A friendly introduction is all we need to get a project/collaboration going and initiate a productive, mutually-beneficial relationship.


The Affiliate Program measures success: when our joint venture results in the creation or preservation of an affordable housing development with support from the community.


That is how we “add capacity throughout the nonprofit sector.” Many developers are able to partner with nonprofits to simply get a project done; few invest in the developments long-term sustainability the way the Affiliate Program model does.


Those who affiliate with NHPF gain a strong financial partner, realize cost savings, and gain the expertise they need to support, and in many cases grow, their operations.


The NHPF’s Affiliate Program provides:
• Technical and operational assistance to nonprofit 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 leading, nationally recognized affordable housing nonprofit to provide safe, clean housing for low- to moderate-income families and seniors


Success Stories from the NHPF Affiliate Program
Vision of Victory Community Development Corporation, District of Columbia
In the District of Columbia, the Vision of Victory Community Development Corporation (VOV), found itself in a predicament. VOV’s establishment as a Community Development Corporation was an initiative led by Allen Chapel AME, a prominent church in Southeast Washington, DC. Allen Chapel’s leadership team created VOV to address and fulfill the need for affordable housing in the community surrounding its church. VOV was given full access to undeveloped land owned by Allen Chapel. The goal was to develop 91 units of affordable housing for low-income seniors. Unfortunately, VOV fell short in its ability to secure bank financing and a tax credit investor.


Joining NHPF’s Affiliate Program changed everything. Through VOV’s affiliation with NHPF, a co-developer entity was formed, bank financing secured, and a tax credit investor joined the team. Now known as The Roundtree Residences, NHPF’S and VOV’s project was completed on time, under budget, and has won several awards.


The Falls Church Housing Corporation Falls Church, Virginia
In Northern Virginia, the Falls Church Housing Corporation (FCHC) found itself at a crossroads. FCHC had an ambitious plan to develop more affordable senior housing, maximizing and leveraging its assets to cover the increase in acquisition and predevelopment costs. With the downturn in the economy and the subsequent loss of outside funding, the project did not come to fruition. FCHC was left facing severe financial challenges.


FCHC was able to establish a relationship with NHPF and become an affiliate. FCHC was able to retain its 501(c) 3 nonprofit status, affirm its mission, improve its portfolio, and strengthen its senior leadership. FCHC accessed NHPF’s expertise and varied resources in development, asset management, and corporate oversight to turn around their challenged position.


Parkchester Apartments, Washington, DC
In Washington, DC, the Parkchester Tenants Association (PTA) found that their building was being sold despite years of deferred maintenance and other capital needs never addressed by the previous owner. Using the powers afforded them under the District of Columbia’s Tenant Opportunity to Purchase Act (TOPA), PTA is partnering with The NHP Foundation to have the  market-based purchase contract assigned to them and acquire the building. PTA and NHPF are undertaking a comprehensive $23.4 million rehabilitation of the property with low income housing tax credits as well as subsidies provided by DC Government and U.S. HUD.


Benning Heights Apartments, Washington, DC

In Washington, DC the Benning Heights Tenants Association (BHTA) found that their building was being sold despite years of deferred maintenance and other capital needs never addressed by the previous owner.  The market price for the building would likely make rents unaffordable. Using the powers afforded them under the District of Columbia’s Tenant Opportunity to Purchase Act (TOPA), BHTA is partnering with The NHP Foundation to have the market-based purchase contract assigned to them and acquire the building. BHTA and NHPF are undertaking a comprehensive $31.4 million rehabilitation of the property with low income housing tax credits as well as subsidies provided by DC Government.


Calvin Mowbray Park & Stephen Camper Park, Cambridge, MD
The Housing Authority of the City of Cambridge, Maryland (CHA), made the decision to participate in the Rental Assistance Demonstration (RAD) Program that is being administrated by the U.S. Department of Housing and Urban Development (HUD) in order to substantially rehabilitate its aging portfolio of 190 units. HUD has acknowledged that it doesn’t have the funding to properly maintain the vast amount of public housing units in the U.S., so it created the RAD Program to foster public and private partnerships that are capable of completing renovations on a large scale. As a result, CHA is partnering with The NHP Foundation and a local developer to undertake a comprehensive $32.4 million rehabilitation of the property with low income housing tax credits.

 

People’s Community Development Association of Chicago (PCDAC)
PCDAC is a nonprofit subsidiary of People’s Church of the Harvest in the East Garfield Park neighborhood of Chicago.  PCDAC and NHPF are partnering to build Harvest Homes, a low income rental property on land immediately adjacent to the church. Harvest Homes is the first development project for PCDAC, and NHPF is happy to partner with the organization in ways that add capacity to the organization and equip it to undertake more development on the West Side of Chicago. Harvest Homes, a $13.5 million project, is being constructed with low income housing tax credits as well as subsidies from the City of Chicago and State of Illinois.


The NHPF Affiliate Program is looking for more success stories. We welcome the opportunity to meet with organizations that might benefit from our resources and expertise.