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Chicago & Midwest  + South Side  + Finance  | 
NHP Secures $18M Financing to Rehab Woodlawn Senior Housing

NHP Secures $18M Financing to Rehab Woodlawn Senior Housing

NHP Foundation has secured financing to complete a comprehensive rehab of the Edwin C. Berry Manor Apartments, a senior 202, Section 8 property located at 737 E. 69th St. in Chicago’s Woodlawn neighborhood. The nonprofit acquired the property in 2019. 

The $18.3 million in financing for the 57-unit property was made possible with support from: $6.5 million of federal Low-Income Housing Tax Credits via NAHT, $1.7 million of IHDA Housing Trust Fund, $5.8 million of a HUD/FHA 221d4 loan through Merchants Capital and a $110,000 grant from ComEd. 

Renovations cover the 57 units, community room and lobby, MEP system upgrades and exterior landscaping. Operation Pathways, NHPF’s resident services provider, will continue to manage onsite services and programming for residents alongside the property management company, Realty & Mortgage. 

The Woodlawn neighborhood has seen a great deal of new investment, driven by its proximity to the future Obama Presidential Center. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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