| |  |  | | |  | The 2024 NHPF Symposium As we prepare for the holidays and look to the new year, we would like to thank everyone who made the 8th Annual NHPF Symposium such a success this year. We were thrilled to welcome nearly 300 members of the affordable housing world to Washington, DC’s beautiful Union Station. Attendees heard from industry experts and record-breaking swimmer, author and inspirational speaker, Diana Nyad, along with the event’s always enjoyable mingling and dining. Most importantly year over year, the event continues to raise much-needed funds to support the onsite work of NHPF’s Resident Services subsidiary, Operation Pathways. | | | | The NHP Foundation
Transaction News  Cutting the Ribbon on Blue Mountain Apartments NHPF proudly celebrated the grand reopening of Blue Mountain Apartments with a ribbon-cutting ceremony late last month. The revitalization of this historic Section 8 family property, located in Roxbury, MA, showcases NHPF's commitment to preserving affordable housing in a gentrifying neighborhood and supporting very low-income families, including larger households that require spacious three, four, and five-bedroom units. The Blue Mountain Apartments redevelopment is a landmark effort in affordable housing preservation, featuring the rehabilitation of 217 multifamily units across 19 buildings originally constructed between 1910 and 1930. “NHPF recognized the urgency of saving these Section 8 homes in this growing neighborhood,” said Mecky Adnani, lead developer for Blue Mountain, “We took action and embarked on an acquisition and long-term preservation initiative to restore the property's physical and historic integrity and provide newly renovated apartments for existing residents.” The $112M refinance which included tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), a Risk Share loan, and federal and state historic tax credits, underscores the complexity and dedication required to preserve affordable housing for future generations. Among the distinguished speakers at the event were Mark Teden, Vice President of Multifamily Programs, MassHousing who said, "MassHousing’s success in preserving affordable housing is exemplified by our work with NHPF on Blue Mountain Apartments, and we extend our gratitude to our joint venture lenders and development team for their commitment to creating quality housing for lower-income seniors and families." Additional speakers included Karen Kelleher, President, Loan Fund, Blue Hub, and Costas Paleologos, Senior Vice President, PNC Multifamily Capital, PNC Bank.
Finally, Shirley Clark, a resident of Blue Mountain Apartments also shared personal remarks on how the revitalized community impacts her family. | | | A Family-Centered Coaching
Success Story  Watch a video about Hector & Plaza Borinquen Hector’s story is one of remarkable transformation and resilience, deeply intertwined with the support and guidance of his mother and Operation Pathways. Growing up in Plaza Borinquen in the Mott Haven section of the Bronx, Hector faced numerous challenges that shaped his character and determination. In 2022, at 16, Hector embarked on a journey that would change his life forever when he became Operation Pathways’ Teen Intern. Initially, Hector was a shy and reserved teenager. His mother, recognizing the potential benefits of the internship, encouraged him to apply. Despite his initial hesitation, Hector filled out the application and was selected for the internship. This opportunity marked the beginning of a significant change in his life. | | | | | | Happy Holidays from Operation Pathways  As the year comes to a close, we are filled with gratitude for the incredible support of our community. Together, we have created not just housing, but homes filled with hope, stability, and opportunity. Your partnership has helped us: - Provided safe, affordable housing for 9,355 residents across 32 affordable housing communities
- Engaged 5,470 residents in vital Resident Services that empower lives and strengthen communities
- Supported 362 residents in setting a combined savings goal of $44,814 during America Saves Week
From all of us at Operation Pathways, we wish you a season of joy, warmth, and peace. Thank you for being a part of our mission and making a lasting impact. With heartfelt appreciation, Ken White
Executive Director, Operation Pathways P.S. If you or anyone else you know would like to make a year end gift, please click below. | | | | | | | | | |  | Our Top 5 Picks for the Quarter Stay informed and entertained by this quarter’s media choices reflecting on aspects of affordable housing, social justice, and other relevant topics. 1. Let’s start off with a Christmas classic, a film that just so happens to have a story of affordable housing at its core. From 1947 comes the timeless It Happened on 5th Avenue—you are guaranteed to love it. If you want to know more about it, here is an article by NHPF CEO Richard Burns discussing the film. 2. Bird is told from the viewpoint of 12-year-old Bailey—played by phenomenal newcomer Nykiya Adams—growing up in an unconventional family unit that borders on the dysfunctional. Her home is a freewheeling, graffiti-daubed squat shared with a teenage half-brother, Hunter (fellow non-professional Jason Buda), who combines a child’s moral certainties with an adult’s propensity for violence). 3. Housing is an investment. Investment prices must go up. Housing is shelter. When the price of shelter goes up, people experience distress. This is the housing trap. It’s time to escape. In Escaping the Housing Trap: The Strong Towns Response to the Housing Crisis, renowned urbanists Charles (Chuck) Marohn and Daniel Herriges introduce a first-of-its-kind discussion of the tension between housing as a financial product and housing as shelter. 4. On the Housing Crisis, a new book by journalist Jerusalem Demsas, argues that the severity of today’s housing shortage demands bolder intervention. 5. One of the most respected podcasts on the air, Planet Money tackles and explains NIMBYism, YIMBYism and why it's so hard to fix the housing shortage. Having trouble viewing this email?
View it in your web browser | | | |  | About the NHP Foundation
Headquartered in New York City with offices in Washington, DC, and Chicago, IL, The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing, and single-family homes that are both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF’s Construction Management Group provides in-house resources dedicated to infrastructure review, infrastructure development and costs management. Through Family-Centered Coaching, NHPF’s subsidiary Operation Pathways engages with, and assists, families experiencing poverty and other hardship, to problem-solve together. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has over 10,000 units, in 16 states and the District of Columbia. For more information, please visit www.nhpfoundation.org. | | | | | |
