NEW YORK, Jan. 11, 2021 /PRNewswire-PRWeb/ -- The NHP Foundation ("NHPF"), a national not-for-profit provider of affordable housing, announced today the promotion of Sr. Vice President Eric W. Price to Executive Vice President and CFO.
Price joined NHPF in early 2019 with 30 years experience in the development and financing of affordable housing and community development.
Since his tenure with the organization he has been integral to the advancement of new project developments including The Strand Theater in Washington, D.C. and the Park Heights development in Baltimore, MD. Price also chairs NHPF's RSI (Racism and Social Injustice) task force addressing diversity, equity and inclusion.
"Eric Price's leadership skills and business acumen have added immeasurably to the success of our organization," said Dick Burns, President & CEO, NHPF. "I look forward to what he will bring as he adds to his current duties working with me on strategic planning, including capital sources and funds."
Prior to joining NHPF, Price worked at the AFL-CIO Housing Investment Trust (HIT) where he served as EVP of the HIT and CEO for the HIT Advisors and Building America CDE. While there he was responsible for originating investment financing through Housing Finance Agencies, FHA mortgage bankers, and multifamily nonprofit and for profit developers. He also formed and led Building America CDE, a subsidiary dedicated to receiving and allocating $185 million in New Market Tax Credits, which invested in 22 projects with a total TDC of $1 billion, creating over "creating over 2 million sq ft of development. Mr. Price had previously served as SVP for Abdo Development where he was responsible for all phases of multifamily residential development. He also served for five years as Deputy Mayor for Planning and Economic Development for the District of Columbia where he created and funded the City's Housing Production Trust Fund and managed the City's Tax Increment Financing Program leading to over $1 billion in new investment. During this period he supervised 8 City agencies with an annual operating and capital budget of over $120 million, responsible for the financing and preservation of over 14,000 affordable housing units and 1 million sq. ft of neighborhood retail.
Mr. Price has served on several Boards including the Washington Hospital Center; Medstar Investment Committee; Washington Convention Center Authority and the District of Columbia Housing Authority. He currently serves on the Board(s) of the National Low Income Housing Coalition and Casey Trees.
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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 scattered-site communities that are both affordable to low and moderate income families and seniors, and beneficial to their communities. 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 57 properties, including nearly 10,000 units, in 16 states and the District of Columbia. For more information, please visit http://www.nhpfoundation.org.
Media Contact
marijane funess, NHPF, 9148303754, [email protected]
SOURCE NHP Foundation
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