The NHP Foundation (NHPF) has launched an Affiliates Program, with Falls Church Housing Corp. in Virginia as its first member.
The initiative aims to bring NHPF’s managerial strength in finance, asset management, resident services, and fundraising to local groups.
“The main thrust is we see this as a way to increase the preservation and creation of affordable housing at a time when there hasn’t been a greater need,” said Richard F. Burns, CEO of NHPF.
The relationship with each affiliate will be different, depending on the group’s structure and situation.
In the case of Falls Church Housing Corp., which operates properties with a total of 87 units for seniors and low- to moderate-income residents, NHPF is coming in as a managing member.
“We’re going to support them and help them increase their footprint in northern Virginia,” said Burns.
The nonprofit is talking to several other organizations about becoming an affiliate.
“With our depth of experience, we feel NHPF can come to the aid of struggling local housing groups that might not otherwise be able to go on in this challenging post-recession period,” Burns said.
NHPF, which is headquartered in New York City and has an office in Washington, D.C., owns 21 properties with about 4,300 affordable housing units in 10 states.