The Housing Partnership Equity Trust, sponsored by the Housing Partnership Network, invests in multifamily properties in partnership with 12 high-performing nonprofit housing providers across the country, which are also HPN Members.
These 12 nonprofit members include:
Established in 1975; AHC Inc. (formerly Arlington Housing Corporation) operates in Arlington, Virginia and other parts of the mid-Atlantic region; including Baltimore, Maryland; Montgomery County, Maryland; Fairfax County, Virginia; and Newport News, Virginia. AHC has preserved or produced more than 4,400 rental apartments and renovated or sold more than 1,300 single-family homes. AHC provides construction and renovation services, operates its own property management company, and provides onsite resident services at several of its multifamily properties.
BRIDGE Housing Corporation
BRIDGE Housing Corporation, the leading nonprofit affordable housing developer in California, creates and manages a range of affordable, high-quality homes for working families and seniors. Since it was founded in 1983, BRIDGE has participated in the development of more than 13,000 homes throughout California, valued at more than $3 billion. Working with partners, BRIDGE serves communities by designing housing solutions that also create jobs, retail activity, access to transit, services, and open space—all ingredients of sustainable neighborhoods.
Chicanos Por La Causa, Inc.
Chicanos Por La Causa, Inc. is a statewide Community Development Corporation (CDC) founded in 1969. CPLC offers programs in the areas of housing, economic development, education, health, and human services. With 34 distinct lines of business in over 22 communities, CPLC has over 800 employees and serves more than 100,000 people a year. CPLC is the largest Hispanic CDC in Arizona. Recently, CPLC formed an advisory board in Nevada to oversee delivery of economic development, housing and loan origination services in Clark County and neighboring area. In Arizona, CPLC has produced 3,800 rental units and manages some 2,400 through its subsidiary, Tiempo, Inc. CPLC expects to add another 750 multifamily units over the next two years as a result of the Neighborhood Stabilization Program 2 award. On the single-family side, CPLC has produced over 400 homeownership units, provided down payment assistance and homeownership counseling, as well as weatherization programs. In addition, CPLC offers the Self Help Housing Program which helps families to construct their own homes if they are unable to purchase a house through conventional methods. Under this program 237 homes have been built to date. Ninety-eight percent of participants in CPLC’s social service efforts are below the federal poverty guidelines.
Community Preservation and Development Corporation
Founded in 1989, Community Preservation and Development Corporation has become the largest nonprofit developer of affordable housing in Washington, DC. Currently, CPDC has a portfolio of 24 multi-family properties with 4,300 rental units housing nearly 13,000 residents. CPDC is a pioneer in the creation of “electronic communities” complete with computer learning centers and high-speed access to the Internet. Early to recognize that successful affordable housing requires investment in its residents, CPDC consciously plans for on-site community resident programming. Based in Washington, DC, CPDC operates throughout the mid-Atlantic region.
Eden Housing, Inc.
In its 42 years of service throughout Northern California, nonprofit Eden Housing, Inc. has provided a roof for over 58,000 people. Hayward-based Eden Housing is the long-term, owner-operator of its developments, and is committed to preserving and maintaining its buildings as community assets and supporting residents with a range of services. Since the organization’s beginnings in 1968, Eden Housing has developed 5,688 housing units and 61,100 square feet of adjoining commercial/retail space in 80 properties. Eden has over 4,500 apartments in its management portfolio and provides access to supportive resident services programs at 100% of its sites.
Hispanic Housing Development Corporation
Hispanic Housing Development Corporation, a pre-eminent nonprofit community development corporation in Chicago, was established in 1976. Its mission is to stabilize Latino communities by developing, managing and investing in ventures that increase the availability of affordable housing, promote economic opportunity, and enhance the quality of life for community residents. In 34 years, HHDC has grown to encompass development, construction, and management for rental, for-sale, and commercial development. To date, HHDC has developed more than 3,100 multi-family units with a total development cost of $261,625,000; 240 single-family and condominium homes at a cost of $32,835,000; and five commercial properties comprising 82,300 square feet and $11,776,000 of value. Our Property Management Division provides hands-on management, maintenance and supervision for family and elderly housing throughout Chicago and Illinois. This portfolio includes 29 residential communities including more than 4,100 units and 6 commercial properties totaling 61,800 square feet. Our general contracting subsidiary, Tropic Construction Corporation, was created in 1993 to gain greater control over the construction process and provide opportunities for Latino contractors as well as training and employment opportunities for community residents. To date, Tropic has completed 23 residential developments totaling 1,891 units at a cost of $73,179,000, and 5 commercial developments, totaling 90,400 square feet, at a cost of $7,280,000. Hispanic Housing employs a staff of more than 200.
Homes for America
Founded in 1994, Homes for America creates and preserves multi- and single-family affordable housing in the Mid-Atlantic states. HFA has developed over 5,100 units of rental housing: 2,797 new construction, 2,303 rehabilitation and 87 homeownership units. HFA is strongly mission-driven, but is business-oriented and pragmatic in its approach. HFA takes pride in being self-sustaining and supports its operations totally on development fees and distributions from operating properties, rather than on charitable contributions. HFA is a strong believer in working in partnership with both nonprofit and for-profit companies. HFAalso oversees resident services in all of its communities, provides development services to nonprofit organizations, and technical assistance to governmental entities.
LINC Housing Corporation
LINC Housing Corporation builds, owns, and operates homes for families and seniors throughout California. Founded in 1984 by the Southern California Association of Governments, LINC has helped create more than 6,500 affordable homes in 54 communities through collaborations with local governments and financial institutions. LINC uses a wide variety of financing tools to create and preserve housing that is affordable, environmentally sustainable, and a catalyst for community improvement.
Mercy Housing was established in 1981 by the Sisters of Mercy, and has developed over $2.2 billion in affordable real estate. Headquartered in Denver, Colorado, Mercy Housing has several core business centers across the country, including California, Washington, Idaho, Colorado, Illinois, and Georgia. These business centers work in their regions to find and develop new affordable housing opportunities and oversee existing properties and resident programs. The organization also includes Mercy Housing Management Group (the property operations arm), Mercy Loan Fund (a subsidiary of Mercy Housing that provides a source of affordable loan capital to community-based nonprofit developers of affordable housing), and Mercy Portfolio Services (that assists communities across the U.S. in addressing economic and housing crises). Mercy Housing has developed nearly 38,000 homes in 41 states and another 9,321 are in predevelopment, construction or concept stage.
Nevada HAND, Inc.
Since its formation in 1993, Nevada HAND, Inc. has developed more than 2,800 rental homes, the majority of them new construction. Its affiliate, HAND Property Management Company, manages all the units NHI has developed. In addition, NHI’s Resident Services Department provides a wide variety of support around economic empowerment, educational assistance, computer training, nutrition programs, and services for seniors. NHI operates throughout the metropolitan Las Vegas area and has capacity to produce an additional 300 new construction rental homes per year.
The NHP Foundation is a nonprofit organization dedicated to making investments that preserve and create affordable multifamily housing for low- to moderate-income families and seniors. The Foundation also provides a comprehensive array of programs and services to enhance the quality of life for its residents.
Founded in 1999, NHT/Enterprise is a joint effort of the National Housing Trust and Enterprise Community Partners. NHTE collaborates with local partners and investors to raise the capital necessary to buy and renovate affordable apartments that are at risk of being converted to market rate or that are deteriorating. NHTE has preserved more than 4,800 affordable apartments in seven states and Washington, DC.