NHP Foundation Celebrates the Grand Reopening of Blue Mountain Apartments in Roxbury, MA

Blue Mountain Apartments Reopening Ceremony

The NHP Foundation (NHPF) marked a significant milestone by celebrating the grand reopening of Blue Mountain Apartments in Roxbury, Massachusetts. This highly anticipated event, held at the end of last month, involved a ribbon-cutting ceremony that highlighted the dedication behind the redevelopment of this essential affordable housing site.

A New Chapter for Affordable Housing

With a focus on family-oriented living, Blue Mountain Apartments features a total of 217 multifamily Section 8 units spread across 19 historic buildings. Originally constructed between 1910 and 1930, these apartments have undergone substantial renovations, preserving their historical significance while upgrading them to meet modern living standards. NHPF’s initiative aims to counteract the gentrification trends impacting Roxbury, ensuring that low-income families, especially those needing larger units, have access to quality housing.

Mecky Adnani, the lead developer for the Blue Mountain project, emphasized the necessity of preserving these units, stating: "NHPF recognized the urgency of saving these Section 8 homes in this growing neighborhood. We took action and embarked on an acquisition and long-term preservation initiative to restore the property’s physical and historical integrity, providing newly renovated apartments for existing residents."

Financial Support and Community Commitment

The successful redevelopment was made possible through a complex $112 million refinancing structure. This included various funding sources such as tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), a Risk Share loan, and federal and state historic tax credits. The intricate financing process reflects the commitment to sustaining affordable housing for future generations and illustrates the NHP Foundation's relentless pursuit of community-focused solutions.

At the ceremony, notable speakers included Mark Teden from MassHousing, who remarked on the collaborative effort that went into preserving these vital housing units. He stated, "MassHousing's success in preserving affordable housing is exemplified by our work with NHPF on Blue Mountain Apartments, and we extend our gratitude to our joint venture lenders and development team for their commitment to creating quality housing for lower-income seniors and families."

Other distinguished speakers included Karen Kelleher, President of Blue Hub's Loan Fund, and Costas Paleologos, Senior Vice President of PNC Multifamily Capital. Their insights reinforced the project's significance in addressing the housing challenges faced by vulnerable communities.

A Community Impact

The impact of the Blue Mountain Apartments on the community cannot be overstated. Shirley Clark, a resident of the complex, shared heartfelt remarks at the event, illustrating how the revitalized community profoundly influences her family. Such personal testimonials serve to remind stakeholders of the human element behind the development of affordable housing.

About NHP Foundation

Established on January 30, 1989, The NHP Foundation is a publicly supported 501(c)(3) not-for-profit real estate corporation headquartered in New York City with other offices in Washington, DC, Baltimore, and Chicago. NHPF is committed to creating and preserving sustainable, service-enriched multifamily housing as well as single-family homes that are affordable for low- and moderate-income families and seniors. Their mission extends beyond housing, encompassing family-centered coaching initiatives through their subsidiary, Operation Pathways, aimed at supporting families experiencing hardship.

NHPF's dedication to affordable housing is evident in their management of 60 properties across 16 states and the District of Columbia. For further information, you can visit their official website at www.nhpfoundation.org.

Conclusion

The grand reopening of Blue Mountain Apartments stands not only as a celebration of restored housing but also as a significant commitment to the community's future. As Roxbury continues to evolve, initiatives like this one are crucial in ensuring that affordable living remains within reach for those who need it most.