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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.
- ◦Financing


