New construction will create 60 units of Mixed Income Housing
NEW YORK (PRWEB) February 23, 2022
The NHP Foundation (NHPF), a national not-for-profit provider of affordable housing, announced today that it has been awarded $2.5M from the Mayor's Office of Housing for NUBA Apartments, a mid-rise building containing 60 units of mixed-income housing and seven live/work units affordable to households with area median incomes between 30%AMI-120% AMIin the Roxbury Neighborhood of Boston.
NHPF and Urbanica were selected to co-develop Parcel 8 through a competitive RFP process that promotes City goals to affirmatively further fair housing, and efficiently utilize City resources and/or land to increase the supply of housing available to low- and moderate-income households.
"The City's award for the combined projects of NUBA Homes and NUBA Apartments will be critical in building a cultural hub of opportunity on the Parcel 8 site in Nubian Square," said Kamran Zahedi, President of Urbanica, Inc. "Together, these projects will create both rentals led by our development partner The NHP Foundation and homeownership opportunities for low and moderate income households, including specific live and work opportunities for artists."
"This project will contribute to the redevelopment efforts within the Roxbury neighborhood of Boston as well as contribute to several extensive planning initiatives," said Mecky Adnani, the lead developer and a Senior Vice President at NHPF. The other initiatives include the Roxbury Strategic Master Plan, Dudley Vision, the Roxbury Heritage State Master Plan, and most recently, PLAN: Nubian Square.
The overall design will include a public park, exhibition space, and live/work artist spaces that will celebrate the historic and cultural values of the site while serving as a Gateway to the Nubian Square neighborhood.
Construction will begin in 2023.
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 9,664 units, in 15 states and the District of Columbia. For more information, please visit http://www.nhpfoundation.org.
For the original version on PRWeb visit: https://www.prweb.com/releases/the_nhp_foundation_completes_acquisition_of_parcel_8_in_boston/prweb18513291.htm
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