NRP Group Taps Affordable Housing Innovator for Upcoming New Jersey Developments

NEW YORK, Aug. 1, 2019 /PRNewswire/ -- The NRP Group, a vertically-integrated, best-in-class developer, builder and manager of multifamily housing, today announced the hiring of Samantha Hennessey, an expert on affordable housing in New Jersey, with the goal of accelerating the development of quality affordable housing in the northeast.

NRP, which has delivered more than 35,000 affordable and market rate apartments nationwide, and currently manages more than 19,000 residential units, was named the No. 5 Top National Developer of affordable housing for 2018 by Affordable Housing Finance Magazine. With Hennessey's expertise, The NRP Group aims to leverage its strong reputation to expand affordable multifamily development in New Jersey and the northeast.  

"NRP has demonstrated such a resolute willingness to work with communities, financial partners and other crucial stakeholders at the local level," said Hennessey. "The development team has a fundamental understanding that it takes a village to develop high quality, accessibly priced housing. I'm excited to work with NRP and look forward to dedicating myself fully to serving the needs of New Jersey's residents."

Hennessey, who currently serves on the board of the Affordable Housing Professionals of New Jersey, has a deep background in real estate development, construction and property management. She served for more than a decade at Community Investment Strategies as project coordinator where she had direct involvement in the development, construction and management of more than 2,000 affordable homes throughout New Jersey.

"With her extensive network of professional relationships, deep knowledge of New Jersey affordable housing, and personal commitment to the work, Samantha is sure to prove a key addition to the team," said NRP Group Vice President of Development Jonathan Gertman. "Having Samantha on the team significantly advances our goal of providing exceptional rental opportunities to residents of the region, regardless of income."

In her new role, Hennessey will leverage her experience in all aspects of project development, including due diligence, land closings, financial underwriting, permitting, architectural and engineering design, grant writing, RFP submissions, construction administration, and professional oversight. She also has considerable expertise with the Mount Laurel Doctrine, the Low Income Housing Tax Credit Program (LIHTC), and other affordable housing programs and initiatives, including the Federal Home Loan Banks program and Community Development Block Grant program.

"Samantha brings a wealth of knowledge about New Jersey's affordable housing market, and I'm thrilled to see what she'll accomplish with the full support of The NRP Group behind her," said NRP Group CEO and Co-Founder J. David Heller. "I'm confident Samantha will thrive and grow in this exciting new role, and through their efforts New Jersey will benefit from the positive growth in affordable housing."

About The NRP Group

The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in- class multifamily housing. Since its founding in 1994, NRP has delivered more than 35,000 apartment homes, and currently manages over 19,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company's formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market- rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information, visit nrpgroup.com.

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SOURCE The NRP Group

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