Ribbon-Cutting Celebrated Completion of RoseMary's Place--New $45 Million Affordable Housing Community for Houstonians Exiting Homelessness

HOUSTON, April 14, 2025 /PRNewswire/ -- The NHP Foundation (NHPF), a national not-for-profit provider of affordable housing, celebrated the grand opening of RoseMary's Place on Wednesday, April 9, 2025, with a ribbon-cutting ceremony at 3300 Caroline Street in Midtown Houston. The $45 million community adds 149 affordable rental units and is dedicated to individuals exiting homelessness.

This milestone marked the completion of a project launched in February 2023 and built through a robust public-private partnership. The new property features two floors of efficiency apartments and provides permanent supportive housing (PSH) services in collaboration with Magnificat Houses Inc. (MHI).

Speakers at the ribbon-cutting included:

• Eric Price, President & CEO, The NHP Foundation
  
  
• Dr. Carolyn Evans-Shabazz, Council Member, District D
  
  
• Derek Sellers, Deputy Director, Houston Housing & Community Development Department
  
  
• Thao Costis, Executive Director, Harris County Housing & Community Development
  
  
• Eva Thibaudeau-Graczyk, Director of Supportive Housing, NHPF
  
  
• Jamie Bryant, President & CEO, Houston Housing Authority
  
  
• Maureen Sanders, Executive Director, Magnificat Houses, Inc.
  
  
• Members of the Missionary Sisters of Mary of the Eucharist and Missionary Sisters of Mary Immaculate

"RoseMary's Place is a shining example of how strategic partnerships and compassion can transform lives," said Dr. Carolyn Evans-Shabazz, Houston City Council Member, District D. "In District D 'The District of Destination' we are committed to ensuring all Houstonians have access to safe, dignified, and supportive housing. This project not only offers shelter, it offers hope and healing."

The celebration featured a ceremonial ribbon-cutting, lunch, and guided tours of property.

"With RoseMary's Place, NHPF hopes to help end chronic homelessness in Houston," said Neal Drobenare, Senior Vice President of Acquisitions for NHPF and lead developer of the property. "The stable housing and services provided will give residents opportunities to live happy and productive lives."

Funding for the project included:

• $18.7 million from the City of Houston Housing and Community Development Department
  
  
• $10.2 million from Harris County Community Services Department
  
  
• $13.6 million from the sale of tax credits to Hudson Housing
  
  
• $2.4 million sponsor loan from Magnificat Houses Inc.

The four-story building includes property management offices, PSH services, three multipurpose rooms, two gathering areas, a warming kitchen, and a 24-hour staffed entry desk.

"The Magnificat community is overjoyed to welcome RoseMary's Place, and its 149 residents, onto our campus and into our hearts," said Maureen Sanders, Executive Director of MHI. "We appreciate NHPF for its foresight in recognizing community support as key to healing homelessness—and for naming their building after our founder, Rose Mary Badami."

According to the Coalition for the Homeless of Houston/Harris County, over 3,200 individuals experience homelessness on any given night in the region. RoseMary's Place is a critical step toward reducing that number and offering long-term, dignified solutions.

About The NHP Foundation (NHPF)
The NHP Foundation (NHPF) is a 501(c)(3) not-for-profit real estate corporation founded in 1989. With over three decades of experience in affordable housing acquisition, investment, development and construction, NHPF's team brings together deep knowledge of real estate fundamentals, attention to changing resident and community needs, and the expertise required to make sound investment decisions. We are also committed to providing equitable, tailored resident services programs, powered by our subsidiary, Operation Pathways, which offers Family-Centered Coaching to families facing poverty and hardship. Through strategic partnerships with financial institutions, the public sector, faith-based organizations, and other nonprofits, NHPF currently owns and manages 65 properties across 16 states and the District of Columbia serving over 25,000 residents. For more information, please visit www.nhpfoundation.org.

About Magnificat Houses Inc. (MHI)
Founded in 1968, MHI provides shelter, mental health support, and free meals to Houston's most vulnerable. Through transitional homes, mental health programs, and the Loaves & Fishes soup kitchen, MHI serves thousands annually. Visit www.mhihouston.org for more information.

SOURCE NHP Foundation