NEW YORK (STL.News) – NHPF (The NHP Foundation), a national not-for-profit leader in providing quality affordable housing to low to middle income Americans in need, today announced that its 3rd Symposium event, ““Affordable Housing Investment: Impactful Returns Realized” held October 16th at Union Station in Washington, D.C. surpassed each of the previous two Symposia drawing 95 corporate sponsors and over 400 attendees. The event honored House Speaker Nancy Pelosi (D-CA) and Senator Tim Scott (R-NC) for their continuing work on behalf of affordable housing.
The Symposium kicked off with an “Afternoon of Learning,” featuring a study on the state of institutional investment in affordable housing today. Based on dozens of in-depth, confidential interviews with fund advisors, the study was presented by John Falco, Principal, Kingsley Associates, a leading provider of real estate and housing research. The report found that a majority of institutional fund managers need more education to take the next step in investing in much-needed housing for financially burdened families and seniors.
A panel discussion then offered up strategic and novel ways to attract and educate investors to help accomplish the needed increase in investment. Moderated by Jonathan Schein, CRE, Global Head of Business Development, Institutional Real Estate, Inc., publisher of the real estate industry’s most authoritative publications, the panel featured
Andy McMahon, Vice President, Policy Health & Human Services, United Health Care
Cherie Santos-Wuest, NHPF trustee and Managing Partner, Celadon Venture Partners
Reuben Teague, Vice President, Impact Investments at Prudential Investment
Allison Turner Yager, Partner, Mercer Investment Consulting
David Wood, Director of the Initiative for Responsible Investment at the Hauser Center for Nonprofit Organizations, Harvard Kennedy School
“For 30 years, LIHTC, the government’s tool to provide tax incentives for investors, has made much of our country’s affordable housing possible,” said NHPF CEO & President Richard Burns. “However, the industry needs additional, fresh capital infusions from the investment community, particularly those with interest in impact and ESG investing. This discussion explored a variety of strategies for traditional investors and those newer to the field and we look forward to continuing the conversation and netting measurable results in increased funding.”
The event also included an award presentation to for-profit affordable housing luminary Jonathan F.P. Rose as well as recognition of NHPF CEO Burns on his first decade helming the organization. More information on the event can be found here.
About The NHP Foundation
Headquartered in New York City with offices in Washington, D.C., and Chicago, I.L., 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 that is both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF also provides a robust resident services program to nearly 18,000 community residents. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has 53 properties, including more than 8,000 units, in 15 states and the District of Columbia. For more information, visit http://www.nhpfoundation.org.