The NHP Foundation Announces Eric W. Price as President and CEO

Leading mission-based affordable housing developer ushers in the new year with leadership changes

WASHINGTON, Jan. 8, 2025 /PRNewswire/ -- The NHP Foundation (NHPF) is pleased to announce the promotion of Eric W. Price to President and Chief Executive Officer, effective January 1, 2025.  This transition heralds an exciting new chapter in NHPF's journey towards greater success and impact.   

Mr. Price has been a driving force in advancing NHPF's mission for nearly six years, serving most recently as President. During his tenure with NHPF, Mr. Price led the issuance of NHPF's first $75 million social bond in 2023, with NHPF achieving a AA- rating from Standard & Poor's. This is the highest rating obtained by non-profit social housing providers.  Mr. Price also worked to obtain NHPF's first award from the CDFI Fund's Capital Magnet Fund.  Both of these additional sources have allowed NHPF to leverage private capital to expand the impact of its work, delivering more affordable housing to communities nationwide.  These two significant achievements were accomplished while Mr. Price also oversaw the organization's internal operations, including almost doubling the number of employees. 

"We are confident in Eric's ability to lead NHPF as we evolve our mission and expand our impact to provide sustainable, resident-focused affordable housing nationwide amid the nation's deepening affordability crisis," said Glynna Christian, Chair of the NHPF Board of Trustees.  "Eric's passionate leadership, strategic and innovative mindset, and extensive public and private experience makes him a natural fit to lead the organization forward."

As Mr. Price assumes his new role, the organization also will celebrate the remarkable contributions of outgoing CEO Dick Burns, who, over the past 15 years, transformed NHPF--steering it through critical milestones, expanding its national presence, and fostering impactful public-private partnerships. Mr. Burns will move into a senior advisor role to focus on select strategic initiatives and has joined the Board of Trustees.

"Leading the tremendous people of NHPF to help change the lives of our residents has been the pinnacle of my long career," said Burns. "As we look ahead, I am confident that NHPF is in great hands. I can't think of anyone better than Eric to lead NHPF into the future."

Mr. Price also shared his enthusiasm about stepping into his new role. "It is the utmost honor to be entrusted with leading NHPF, especially at such a critical time in the organization's growth. Working with our dedicated team and our partners to further expand our impact and continue creating sustainable, affordable housing solutions for communities across the country remains my top priority."

About Eric Price

Mr. Price has over 30 years of experience in affordable housing and community development. He served as Deputy Mayor for Planning and Economic Development in Washington, D.C., responsible for managing several City agencies with a combined $120 million annual budget. During his tenure, he created funding for the City's Housing Production Trust Fund (HPTF), establishing a dedicated tax revenue which since 2015 has invested approximately $1 billion in affordable housing throughout the City.  In addition, he oversaw a successful $300 million Tax Increment Financing (TIF) Program, providing jobs and neighborhood retail investment throughout the City. Throughout Mr. Price's career he has held leadership positions in community development, affordable housing finance and with for-profit developers, allowing him to build deep experience in all facets of NHPF's business.

About The NHP Foundation
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 60 properties across 16 states and the District of Columbia. For more information, please visit www.nhpfoundation.org.

SOURCE NHP Foundation