Portfolio Partner Profile
Housing Partnership Network
Proving that strong, independent organizations can do more together than alone, Housing Partnership Network (HPN) is a nonprofit collaborative of over 120 of the nation's leading affordable housing and community development organizations. Together, this Fitch- and Aeris-rated network develops scalable solutions to improve access to high quality affordable housing across the country. The network includes mission-driven housing developers, homeownership counselors, owners-operators, and lenders working to produce and preserve rental and for-sale housing. Members operate in communities across the country, manage assets of approximately $70 billion, and provide close to 500,000 low-wealth families with stable housing and wealth-building opportunities each year.
This high impact network has catalyzed over a dozen successful social enterprises to solve for gaps in the sector. Examples include an award-winning CDFI (and one of the first financial intermediaries to provide critical enterprise-level capital to affordable housing owners and developers); a property and casualty insurance company that insures member units at rates reflecting members’ superior performance; a web-based homeownership education platform serving over a million consumers (Framework); development companies in cities formerly lacking significant non-profit capacity (Gulf Coast Housing); and incubation of the National Community Stabilization Trust to respond to the foreclosure crisis and help preserve and revitalize neighborhoods.
To date, the network has collectively served over 16 million people; developed, rehabilitated, or preserved over 500,000 affordable homes; and developed and financed housing and community facilities valued at over $170 billion. Our work has been recognized with honors including the MacArthur Award for Creative & Effective Institutions and Wells Fargo NEXT Award for Opportunity Finance.
Featured Impact Story
Impact Story
Creating Homeownership Opportunities for West Louisville Residents
Since 2017, the Housing Partnership Fund (HPF) has pioneered the use of New Markets Tax Credits (NMTCs) to subsidize development and sale of single-family homes, making them more affordable to homebuyers with low or moderate incomes. Equity raised through the Housing Partnership Network (HPN)’s NMTC allocation provides a flexible subsidy to increase homebuilding, reduce the cost of home buying, and strengthen the local economy. In 2021, HPF made a NMTC investment to boost single-family homeownership among individuals and families of color as part of a cornerstone initiative of The Housing Partnership, Inc. (HPI). HPI aims to make homeownership less costly than renting and revitalize disinvested neighborhoods west of Louisville’s infamous “9th Street Divide.”
The long-term goals of Beyond 9th are to provide wealth-creation opportunities to predominately black communities and reestablish homeownership in historically redlined neighborhoods. The homes will be sold at an average price of $104,600, in line with the rising market and in keeping with neighborhood revitalization efforts. The houses are affordable for households earning between 30%-80% of the Area Median Income (AMI), with a median AMI of 48%. HPI also helps homebuyers secure down payment assistance.
To date, the impacts of Beyond 9th include:
- The average AMI of homebuyers is below 60% AMI.
- Of all home sales, 90% have been to people making 80% AMI or lower
- 81% of home sales have been to black families
- 60% have been to female heads of household
- 55% of houses were aided by minority- or female-owned contractors
“Innovative financing from the Housing Partnership Fund is making it easier for us to build back better and to move renters into homeownership where they live.” – Andrew Hawes, President & CEO, Housing Partnership, Inc.
Read the full story here.
Impact Story
Owning Our Own Risks
In late 2001, the U.S. insurance industry experienced a hardening market, meaning premiums increased, coverage terms were restricted, and capacity decreased. Housing Partnership Network (HPN) member developers were experiencing significant escalations in premiums on property and casualty insurance, and declination of coverage for some of their affordable housing properties. Some members had seen their insurance premiums double.
The volatility of the insurance market put members' business sustainability and property affordability at serious risk, resulting in program cuts, rent increases, or both. After exploring several options, the working group recommended to the HPN board that it form a captive insurance company to supply property and casualty coverage to interested members.
The Housing Partnership Insurance Exchange (HPIEx) was formed to address this need. The captive launched with 14 members representing 33,000 units and now serves 24 members insuring over 100,000 affordable units. It has distributed back to members more than $15 million on an initial equity investment of approximately $5 million, proof that the captive is delivering on its original financial goals and intended benefits to members.
“HPIEx has been a stable and long-time partner for MidPen. We find tremendous value in the transparency of pricing while being able to participate on the board, in essence managing and controlling the impact we have on maintaining stable insurance pricing.” – Janine Lind, Chief Operating Officer, MidPen Housing
Read the full story here.
Impact Story
Supporting Community Ownership in South Florida
New Urban Development’s (NUD) Coconut Grove Initiative is the culmination of a long-term strategic vision to work with local partners to create mixed-income housing. This initiative is explicitly designed to mitigate the rapidly gentrifying Coconut Grove neighborhood, one of Miami-Dade County’s oldest Black communities. The proposed development site’s first five parcels were already under local neighborhood ownership of Grovites United to Survive (GUTS), a 25-year-old community group composed of families and individuals working and living in Coconut Grove.
Initially, our CDFI, Housing Partnership Fund (HPF) provided a $1.5 million acquisition loan to buy this final .25-acre parcel that would support an eight-story multifamily development with ground floor retail space, and a combination of one-, two-, and three-bedroom units ranging in size from 700 to 1,200 square feet. The project, as proposed, will further NUD’s mission to create mixed-income housing, with 1/3 affordable at 60% AMI (Area Median Income) and the other 2/3 as market rate units.
Subsequently, HPF worked with NUD and two other CDFIs (Community Development Financial Institutions) - Florida Community Florida Loan Fund and BlueHub Capital - to provide a $6.7 million loan to buy all the parcels associated with this development, allowing GUTS to benefit from its early investment in their community.
“HPF is an outstanding financing partner that supports and augments the capacity of nonprofit developers working in hard-to-develop areas." – Oliver Gross, President, New Urban Development
Read the full story here.
Impact Story
Housing US veterans
When the U.S. Department of Veterans Affairs set out to end veteran homelessness, it turned to the Housing Partnership Network for help. HPN members responded by pledging to provide affordable housing for formerly unhoused veterans. One success story is Gray's Landing, a downtown Portland building operated by REACH Community Development Inc., where 42 apartments are set aside specifically for veterans transitioning from homelessness. A VA case manager is on site 20 hours each week to help residents navigate financial challenges and stay connected to their community. For veterans in Portland's expensive rental market, Gray's Landing proves that affordable housing combined with supportive services can break the cycle of homelessness and restore stability.
Impact Story
Ohio Capital Corporation for Housing
In Williamstown, Kentucky, a small town of about 4,000 where nearly 16% of residents live below the poverty line, finding affordable housing feels impossible. Children and seniors are particularly vulnerable. Ohio Capital Corporation for Housing changed that with Helton Point Apartments, a community of 23 affordable units designed for families in search of stability. By providing quality, secure housing, these apartments do more than offer a roof. They free families from the impossible choice between paying rent and meeting other essential needs. Thanks to this partnership between Ohio Capital Corporation and the Housing Partnership Network, dozens of families can now afford to stay housed and grounded in their community.
Impact Story
Homeownership can help reshape your life
When Rockea came to the Indianapolis Neighborhood Housing Partnership, she was seeking guidance on her homeownership options. She found her path — purchasing a home in a neighborhood undergoing transformational redevelopment where she could sustain her livelihood while building equity. Her success inspired her entire family: her mother, father, aunt, grandmother, and grandfather have all become homeowners in the past 14 years. Through Rockea's story, we see how homeownership reshapes lives and strengthens communities.
The information presented is provided by our portfolio partners for general informational purposes only. We have not independently verified for accuracy or completeness. The testimonials presented reflect the personal experiences and opinions of portfolio partners and their investees, and do not guarantee the same results for others.
Affordable Housing
Community Development
Environmental Sustainability
