NHP Foundation Unveils New Affordable Housing in Columbia Heights
A New Era of Affordable Housing at Harvard Court
Exciting developments are underway with the NHP Foundation (NHPF) marking a significant milestone as they move forward with the construction of Harvard Court. This ambitious project, located at 1425 Harvard Street NW, is a transformative initiative that aims to provide much-needed affordable housing in Columbia Heights.
Collaboration for Community Transformation
The NHP Foundation is collaborating with key partners, including Change All Souls Housing Corp. and the Columbia Heights Village Tenants Association (CHVTA), to breathe new life into a former parking lot, turning it into a vibrant residential community. This collaboration has culminated in securing construction financing, with groundbreaking commencement following a successful financing close in summer 2025.
Design and Vision for the Future
Designed by the renowned firm Shalom Baranes Associates, PC, and constructed by McCullough Construction, LLC, the Harvard Court development will rise seven stories tall, featuring a total of 108 affordable units. This carefully planned community is set to address both the urgent need for housing and promote long-term affordability in the region.
Strong Financial Backing for Sustainable Growth
The project is not merely an architectural endeavor; it's a bold statement on the importance of public-private partnerships in housing. The District of Columbia Housing Finance Agency (DCHFA) played a pivotal role, issuing $48.26 million in tax-exempt bonds and underwriting significant federal and local Low-Income Housing Tax Credit (LIHTC) equity, exceeding $41 million. Additional financial support from partners such as Hudson Housing Capital and Bank of America adds robustness to the project.
Enhancing the Community Landscape
To further ensure the project's success, the DC Department of Housing and Community Development (DC DHCD) contributed $24.29 million from its Housing Production Trust Fund, an investment aimed at fostering affordable housing availability. This financial foundation helps guarantee that Harvard Court will address the pressing needs of a diverse population in a neighborhood that has seen escalating housing costs.
Commitment to Affordable Living
With a commitment to maintaining affordability, 100% of the apartments in Harvard Court will be offered to families and individuals at various income levels. In an era where housing instability is prevalent, initiatives like this not only expand housing opportunities but also strengthen community bonds by preserving the neighborhood's diversity.
Visionary Leadership and Strategic Solutions
Eric Price, President & CEO of NHPF, encapsulated the vision behind this initiative, stating, "This development reflects NHPF's strategy of leveraging underutilized land within our existing portfolio to maximize housing production in ways uniquely designed for specific neighborhoods." His remarks emphasize a proactive approach to addressing housing challenges in high-cost areas like Columbia Heights.
Conclusion: A Step Toward Long-Term Affordability
As Harvard Court begins to take shape, it stands as a testament to what can be achieved through strategic planning, community collaboration, and a shared commitment to addressing the affordable housing crisis. This project not only represents new homes but also a brighter future for residents of Columbia Heights, facilitating stability and accessibility in real estate.
About The NHP Foundation
The NHP Foundation, established in 1989, is a dedicated 501(c)(3) non-profit organization that champions the cause of affordable housing. With decades of expertise in real estate acquisition, development, and construction, NHPF prides itself on its holistic approach to resident services, which are further enhanced by its subsidiary, Operation Pathways. Their commitment to inclusivity and community wellbeing manifests in their stewardship of 63 properties across multiple states, serving over 25,000 residents.
Frequently Asked Questions
What is the Harvard Court project?
The Harvard Court project, led by NHP Foundation, aims to develop 108 affordable housing units in Columbia Heights, turning a former parking lot into a vibrant community.
Who are the partners involved in the project?
NHP Foundation partnered with Change All Souls Housing Corp. and the Columbia Heights Village Tenants Association, alongside financial institutions like Bank of America and Hudson Housing Capital.
When is the expected completion of Harvard Court?
The development is expected to be completed in mid-2027, providing much-needed affordable housing by that time.
What funding supports this affordable housing initiative?
The project is backed by $48.26 million in tax-exempt bonds, over $41 million in LIHTC equity, and $24.29 million from the DC DHCD’s Housing Production Trust Fund.
How does Harvard Court promote long-term affordability?
All 108 units in Harvard Court are designated as affordable housing, catering to families and individuals of various income levels, thus ensuring sustainable living options in a competitive market.
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