August 22, 2014 12:34 PM ET

Real Estate Management and Development

Company Overview of Preservation Of Affordable Housing, Inc.

Company Overview

Preservation Of Affordable Housing, Inc. owns and manages apartments in various developments for seniors on fixed incomes, the disabled, and working families whose jobs represent the lower end of the wage scale in Connecticut, District of Columbia, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Hampshire, and Rhode Island. It preserves the use of housing through refinancing transactions with strictures that keep rents affordable for the long-term. The company was formerly known as NEF Properties, Inc. and changed its name to Preservation Of Affordable Housing, Inc. in November 2001. Preservation Of Affordable Housing, Inc. was incorporated in 1998 and is based in Boston,...

40 Court Street

Suite 700

Boston, MA 02108

United States

Founded in 1998

Phone:

617-261-9898

Fax:

617-261-6661

Key Executives for Preservation Of Affordable Housing, Inc.

Chief Financial Officer
Compensation as of Fiscal Year 2014.

Preservation Of Affordable Housing, Inc. Key Developments

MassHousing Closes $8.9 Million in Loans for the Central Annex Apartments of Preservation of Affordable Housing

MassHousing announced that it has closed $8.9 million in financing for the renovation and preservation of affordability at the 101-unit Central Annex Apartments for elderly and disabled residents in Pittsfield. The MassHousing financing includes a $5.4 million construction and permanent loan and a $3.5 million bridge loan. An additional $1.75 million is being provided from the Affordable Housing Trust Fund, which is managed by MassHousing on behalf of the state Department of Housing and Community Development (DHCD). Other funding for the development is being provided by DHCD and equity from the sale of Low Income Housing Tax Credits.

Preservation of Affordable Housing, Inc. Appoints Estelle Richman and Jarrett Barrios to Board of Directors

Preservation Of Affordable Housing, Inc. announced that Estelle Richman and Jarrett Barrios have joined the Board of Directors. Most recently, Richman was named Philadelphia Housing Authority Board Chair to oversee operations of the agency when it was under federal receivership for two years. She helped install a new management team and procedures that moved the agency forward and restored its credibility. As Senior Advisor to the Secretary of HUD, Richman provided oversight and management over the intersection between housing and social services and advised on the HUD budget. Barrios served as the president and CEO of the Blue Cross Blue Shield of Massachusetts Foundation and the Gay & Lesbian Alliance Against Defamation.

Preservation Of Affordable Housing, Inc. Appoints William C. Apgar, Jr. as Director of the Board

Preservation Of Affordable Housing, Inc. announced that William C. Apgar, Jr. has joined the Board of Directors of the company. Apgar was one of the first board members of POAH, which was founded as the successor of NEF (National Equity Fund) Properties Inc. Apgar is a Senior Scholar at the Joint Center for Housing Studies and a Lecturer in Public Policy at Harvard's Kennedy School of Government. He researches housing, community and economic development, housing finance and capital markets and leads the Credit, Capital, and Communities Project, an ongoing evaluation of the impact of the changing structure of the mortgage industry and related capital markets on access to affordable homeownership and rental housing opportunities. From 2009 to 2011, Apgar served as a Senior Advisor for Mortgage Finance in the Office of the Secretary of the US Department of Housing & Urban Development (HUD) where he was involved in interagency activities to reform and restructure the nation's housing finance system. He served as HUD Secretary Shaun Donovan's liaison to the Federal Housing Finance Agency (FHFA). From 1997 to 2001, Apgar was the Assistant Secretary of Housing at HUD, where he oversaw the operation of the Federal Housing Administration (FHA) and co-chaired the joint HUD-Treasury Task Force on Predatory Lending. Apgar served as the Chairman of the Board of the Homeownership Preservation Foundation and is a member of the Board of Directors of the National Low Income Housing Coalition.

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