2016 LIHTC Development that Best Exemplifies Major Community Impact

Winner

New Hope Housing at Rittenhouse

Developer: New Hope Housing Inc.
Owner: New Hope Housing Inc.
Location: Houston

New Hope Housing at Rittenhouse, 2016 Developments of Distinction Award winner for LIHTC Development that Best Exemplifies Major Community Impact

The winner of the 2016 LIHTC Development that Best Exemplifies Major Community Impact Award is New Hope Housing Inc., for its development of New Hope Housing at Rittenhouse in Houston. The developer leveraged more than $9.4 million in low-income housing tax credits to create 160 units of affordable, single-room occupancy (SRO) housing. New Hope Housing at Rittenhouse provides tenants with the opportunity to live in high-quality, environmentally friendly, affordable housing developments with the critical support services to help them exit the cycle of homelessness and stabilize their lives. Rittenhouse also addresses Houston’s substantiated need for permanent supportive housing (PSH), which is defined as housing with both rental supports and vital services, and is designed to serve the city’s most vulnerable residents, including those with mental and physical disabilities.

In addition to offering 160 studio apartments and community spaces, the 74,000-square-foot development also features the New Hope’s Resident Services Program, which offers residents free life-skills classes, case management/referral services and social/recreational activities.

“It was a really groundbreaking innovation and design for the Houston homeless/SRO community.” Thomas Dixon, Boston Capital

Honorable Mention

Gardens at San Juan Square

Developer: The NRP Group
Owner: San Juan III LTD
Location: San Antonio

Gardens at San Juan Square, 2016 Developments of Distinction Awards Honorable Mention for LIHTC Development that Best Exemplifies Major Community Impact

Honorable mention for the 2016 LIHTC Development that Best Exemplifies Major Community Impact Award goes to The NRP Group for the redevelopment of the Gardens at San Juan Square in San Antonio. The NRP Group used a variety of funding sources, including 4 percent LIHTCs to create market-rate quality housing at an affordable price and 4,200 square feet of commercial space. The Gardens will also feature a variety of programs and educational forums.

“The final phase of a three-phase project in San Antonio to redevelop a deteriorating public housing project resulted in a benefit to the entire community,” said Richard Gerwitz, co-head at Citi Community Capital and a 2016 Developments of Distinction judge.

Honorable Mention

Monsenor Romero Apartments

Developer: National Housing Trust – Enterprise Preservation Corporation
Owner: 3145 Mount Pleasant Street L.P.
Location: Washington, D.C.

Monsenor Romero Apartments, 2016 Developments of Distinction Awards honorable mention for LIHTC Development that Best Exemplifies Major Community Impact

The second honorable mention for the 2016 LIHTC Development that Best Exemplifies Major Community Impact Award is the National Housing Trust– Enterprise Preservation Corporation for developing Monsenor Romero Apartments in Washington, D.C. The developer received more than $10.2 million in low-income housing tax credits (LIHTCs) and $1.3 million in state historic tax credits (HTCs) to redevelop the building, which was damaged in a 2008 fire, into 63 green and affordable housing units.

“This is a great example of affordable and green historic rehabilitation demonstrating significant community impact in a gentrifying urban neighborhood,” said James Tassos, senior legislative and policy associate at the National Council of State Housing Agencies and a 2016 Developments of Distinction judge. 

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