Creating Healthy, Affordable Rental Housing
In August 2015, the NPHS Board of Directors approved the creation of the Rental Housing Program which provides quality affordable housing to families who are not yet ready for homeownership. The program will make available single-family and multi-family homes for rent to low-income families throughout the Inland Valley, which includes San Bernardino, Riverside and Eastern Los Angeles County.
NPHS Community Redevelopment, Inc., which serves as the organization’s development and realty company, will acquire, rehabilitate and green older single-family and multi-family properties, and then rent them to low-income families. NPHS Community Redevelopment recently acquired two four-unit properties that will provide eight units of affordable rental housing in the City of San Jacinto. This marks NPHS’ first multi-family rental housing rehabilitation project led by its Redevelopment Department team.
The San Jacinto rental project presented an opportunity for NPHS to renovate the property while drastically improving the living conditions of its current tenants. NPHS has rehabilitated the property by painting the exterior and interior of all units, installed new flooring, replaced a leaking roof, and repaired the car ports that present safety issues to the tenants. NPHS has also “greened” the property which will lower the tenants’ utility costs by replacing single-pane windows with double-pane and installing new energy efficient appliances.
“The expected result of the Rental Housing Program is to expand the availability of quality affordable and healthy rental homes in the communities we serve,” explains Adam Hicks, NPHS Vice President of Redevelopment Strategies, who has been with NPHS over five years overseeing over one-hundred acquisition and rehabilitation projects.
NPHS is currently planning on various other new affordable rental housing developments including Thunderbird Veteran Rental Housing, a 13unit multi-family workforce housing project for Veterans in Apple Valley, and Gateway Neighborhood Rental Housing, a 6 unit in-fill development in San Bernardino. NPHS is currently seeking additional capital for its Community Investment Trust to acquire and develop additional units. NPHS Community Redevelopment plans to grow its rental portfolio to 200 units by 2020 while at the same time preparing tenants to become homeowners through its homebuyer education and counseling services.
Interested in investing in NPHS’ Community Investment Trust for affordable housing, please call Greg O’Donnell, Vice President, Investments & Marketing, at (909) 218-8483 or email him at email@example.com.