The NHP Foundation (NHPF), a national provider of affordable housing, has recently acquired New Port Antonio, a historic Section 8 property located in the Warren Street neighborhood of Roxbury, MA. This marks one of the largest transactions in NHPF’s history.
New Port Antonio Apartments consists of 227 urban residential units spread across 13 different locations and 17 building footprints within a half-mile radius. These buildings were constructed between 1899 and 1930, adding significant historical value to the community.
The acquisition was financed through an existing $39 million MassHousing loan assumption. Additional funding was secured through $19 million in NHPF Corporate Bonds as well as a joint loan totaling $28 million from BlueHub Loan Fund and Low Income Investment Fund.
According to MassHousing CEO Chrystal Kornegay, “New Port Antonio provides quality affordable housing for low- and moderate-income households in Roxbury.” She also expressed her satisfaction with being part of this transaction that allows NHPF to take ownership of this important housing resource while serving as its new steward for residents’ needs.
