NHPF remains very concerned regarding the overall health and well-being of our 25,000 residents during the Covid-19 crisis. We have been actively working with our third-party management companies in taking steps such as increased cleaning of common areas, limiting resident contact except for emergency situations and, through our resident services program subsidiary Operation Pathways, providing information about resources for financial assistance, food, medicine, transportation, and needed supplies. In addition, we have placed a moratorium on all evictions for non-payment of rent for the duration of this crisis and are actively engaging our residents who have been financially impacted to discuss payment plans. We fully appreciate the social and emotional tolls the length of this crisis have taken on our residents and we will follow all local and state government directives regarding the reopening of our sites and community centers. The safety and well-being of our residents remains our highest priority.

Foxwood Manor

Affordable Housing in Levittown, Pennsylvania

Foxwood Manor in Levittown, Pennsylvania is a multifamily property built in 1972. While well maintained, it was an aging community in need of a comprehensive makeover. The rehabilitation project included a full upgrade of the mechanical infrastructure, together with significant interior improvements, including new doors and flooring, major updating of kitchens and baths, and new paint and carpeting throughout the complex. In addition, 5% percent of the apartments are being made accessible to those with disabilities, in full compliance with the Americans with Disabilities Act.

The Foxwood Manor property includes an on-site community center that provides residents a computer lab and an array of education, health, civic education and financial literacy programs. All residents from children through seniors are part of an active, welcoming community committed to healthy lifestyles, personal development and civic participation

Total Cost

$36,016,000

Description
Foxwood Manor has 304 units, totaling 213,000 square feet. It is a low- to moderate-income property that includes 132 units at or below 50% AMI, 96 units at or below 60% AMI, and 76 units at or below 95% AMI.

Financing
Secured financing and funding or this project included:

$11,970,000Tax-exempt Bonds
$7,132,9004% Low-Income Housing Tax Credits (LIHTC’s)
$1,384,100Existing Property Reserves
$1,478,800Deferred Developer Fee
$12,800,000Deferred Sale Price
$1,250,200Property Cash Flow