NIIF Investments

NIIF Adds to Support for Park Heights Redevelopment

In September 2022, NIIF completed an add-on commitment of $750,000 to its pre-existing loan to NHP Foundation to support revitalization efforts in Park Heights.  The new funding will help to finance predevelopment expenses for a 53-unit affordable family housing project.

This project will be the second-phase in the redevelopment of 17.3 acres of vacant land previously acquired and cleared by Baltimore City.  NHP Foundation was selected to redevelop the site in 2020 and previously began work on a senior housing project supported is expected to deliver 100 units.  NIIF previously provided $1 million in financing for that project.  NHP is also undertaking work on a community garden and other amenities and targeting a a final that is expected to deliver single family homes.

In both of its loans to NHP, NIIF partnered with National Housing Trust Community Development Loan Fund, a Washington DC-based CDFI.