#United States #Washington, D.C. #affordable housing #NHP Foundation #Eric Price

Eric W. Price Takes the Helm at NHP Foundation

The NHP Foundation (NHPF) has made a significant leadership change as it enters 2025, appointing Eric W. Price as the new President and Chief Executive Officer effective January 1. This pivotal transition signals a commitment to enhancing the organization's ambitious mission in the affordable housing sector.

Eric Price has been a vital part of NHPF's journey for nearly six years, having served previously as the President of the foundation. His contributions have been instrumental in advancing the organization’s goals. Notably, under his leadership, NHPF successfully issued its first $75 million social bond in 2023, which received an impressive AA- rating from Standard & Poor's—marking the highest rating achieved by a non-profit social housing provider to date. Additionally, Price played a key role in securing NHPF's inaugural award from the CDFI Fund’s Capital Magnet Fund, augmenting the organization's capacity to leverage private investments for affordable housing initiatives.

With Mr. Price at the forefront, the NHP Foundation aims to navigate the increasingly complex landscape of affordable housing, especially amid the ongoing affordability crisis affecting communities across the nation. As emphasized by Glynna Christian, Chair of the NHPF Board of Trustees, "Eric's passionate leadership, coupled with his strategic outlook and rich experience, positions him perfectly to drive our mission forward."

As he steps into his new role, Price reflects on the immense responsibility he carries, stating, "Leading NHPF serves as an incredible honor, especially during this crucial phase of our growth. My foremost priority is to collaborate with our dedicated team and partners to expand our impact, ensuring sustainability in affordable housing options available to various communities." His vision aligns with NHPF’s commitment to not just provide housing but create environments that enhance the quality of life for residents.

The leadership change also marks a moment of gratitude for outgoing CEO Dick Burns, who will continue his journey with the organization as a senior advisor. Burns has been a pivotal figure in NHPF's evolution over the past 15 years, transforming the foundation, expanding its reach across the nation, and nurturing impactful public-private partnerships. "Guiding the talented individuals at NHPF to make a difference in the lives of residents has been a highlight of my career," said Burns. "As we transition, I am reassured that NHPF is stepping into a promising future under Eric's leadership."

Mr. Price's extensive background in affordable housing and community development spans over three decades, having previously served as Deputy Mayor for Planning and Economic Development in Washington, D.C. His expertise facilitated the management of multiple city agencies with a substantial annual budget, enabling him to foster funding innovations, like the Housing Production Trust Fund, crucial for affordable housing initiatives.

The NHP Foundation itself is a 501(c)(3) nonprofit organization established in 1989. With more than thirty years of involvement in affordable housing, NHPF combines robust real estate insight with a strong focus on addressing resident needs, aiming to provide tailored services through its subsidiary, Operation Pathways. This organization is dedicated to assisting families grappling with poverty and hardship.

As NHPF looks forward to a new chapter under Eric W. Price, it remains committed to creating significant change in the housing market, leveraging its resources effectively to expand residential opportunities nationwide. More information about the NHP Foundation can be found on their official website, NHP Foundation.