A national foundation devoted to increasing the availability of affordable housing in the U.S. plans to more than double the number of units it owns over the next two years.
The NHP Foundation, created in 1989 by the National Housing Partnership to help address the lack of affordable housing in the U.S., has purchased or renovated more than 5,000 units in 11 states, with plans to buy another 840 this month.
And over the course of 2008 and 2009, the group plans to purchase or renovate about 9,000 additional units, many of which will be in the Gulf Coast region.
The foundation also announced the promotion of three of its top executives.
Helena R. Cunningham, who has been with the organization since 2005, was named executive vice president and will oversee the development and preservation of multi-family units on the Gulf Coast.
Richard Gollub, who joined the foundation in 2001, was promoted to senior vice president and treasurer.
Thomas Vaccaro was named vice president, with responsibility for the organization’s fundraising and communications activities.