Eric Price has been appointed as the President and CEO of The NHP Foundation (NHPF), with his leadership commencing on January 1, 2025. This transition signals a significant change for the organization, which has been a cornerstone in the realm of affordable housing since its establishment in 1989. Price takes over from Dick Burns, who has directed the organization for 15 years and will shift to a senior advisory position while also joining the Board of Trustees.
The NHP Foundation operates as a mission-driven non-profit organization focused on tackling the affordable housing crisis in the United States. Through its subsidiary, Operation Pathways, NHPF offers resident services aimed at family-centered coaching and community development. With Eric Price at the helm, the organization is positioned to advance its essential mission, utilizing innovative financial strategies and partnerships to enhance affordable housing availability across the country.
NHPF’s work is pivotal in addressing the housing needs of low- and moderate-income families by acquiring, developing, and managing properties that meet these requirements. Operation Pathways complements these initiatives by providing key resident services intended to foster financial stability and encourage community engagement.
Price boasts over 30 years of expertise in affordable housing and community development, with a career that spans both public and private sectors. His notable contributions include a tenure as Deputy Mayor for Planning and Economic Development in Washington, D.C., where he initiated impactful programs such as the Housing Production Trust Fund (HPTF) and a $300 million Tax Increment Financing (TIF) program. These efforts have significantly altered the housing landscape in the capital, benefitting numerous residents and energizing community growth.
During his time at NHPF, Price has already accomplished a number of impressive milestones. In 2023, NHPF successfully issued a $75 million social bond that received a AA- rating from Standard & Poor’s, marking the highest rating attainable for non-profit social housing providers. This financial instrument has enhanced NHPF’s capacity to further its affordable housing initiatives. Additionally, Price secured NHPF’s inaugural award from the CDFI Fund’s Capital Magnet Fund, granting the organization access to private capital specifically for affordable housing expansion. Under his guidance, NHPF has nearly doubled its employee count and significantly amplified its impact in the affordable housing sector.
Price’s commitment to financial innovation, illustrated by the issuance of social bonds, underscores NHPF’s ability to engage private investment while remaining steadfast to its mission. These financial tools not only fund housing projects but also reflect the organization’s dedication to sustainable practices and long-lasting impact.
The Housing Production Trust Fund (HPTF), established under Price’s direction as Deputy Mayor, has proven essential in meeting Washington, D.C.’s affordable housing challenges, channeling around $1 billion into housing projects since 2015. Furthermore, Price’s management of the TIF program has emerged as a vital driver for job creation and neighborhood retail investment, showcasing his talent for marrying economic growth with community-oriented initiatives.
Outgoing CEO Dick Burns has also been influential in shaping NHPF over his 15-year tenure, enhancing the organization’s portfolio and furthering its mission-driven ethos towards affordable housing. Burns will remain with the organization as he transitions into his role as a senior advisor and board member, ensuring that leadership remains consistent during this pivotal period.
NHPF’s achievements in affordable housing are contingent upon its strong alliances with financial institutions, public sector agencies, and non-profits, allowing the organization to optimize resources and amplify its influence within the sector. Price’s leadership is anticipated to enhance these collaborations, promoting innovation and sustainable growth.
The subsidiary Operation Pathways is integral to NHPF’s mission, delivering resident services that emphasize family-centered coaching and community development. Initiatives like the Family-Centered Coaching program empower residents to attain financial independence, elevate their quality of life, and fortify community ties. Under Price’s direction, Operation Pathways is expected to broaden its reach and effectiveness.
Recognized for his passionate, strategic, and innovative leadership style, Eric Price aligns closely with NHPF’s mission and values. His vision for sustainable and resident-focused affordable housing solutions positions him to steer the organization toward meaningful change in addressing the ongoing affordable housing crisis.
