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May 03, 2015 9:37 PM ET

Real Estate Management and Development

Company Overview of Preservation Of Affordable Housing, Inc.

Company Overview

Preservation Of Affordable Housing, Inc. owns and manages apartments in various developments for seniors on fixed incomes, the disabled, and working families whose jobs represent the lower end of the wage scale in Connecticut, District of Columbia, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Hampshire, and Rhode Island. It preserves the use of housing through refinancing transactions with strictures that keep rents affordable for the long-term. The company was formerly known as NEF Properties, Inc. and changed its name to Preservation Of Affordable Housing, Inc. in November 2001. Preservation Of Affordable Housing, Inc. was incorporated in 1998 and is based in Boston,...

40 Court Street

Suite 700

Boston, MA 02108

United States

Founded in 1998

Phone:

617-261-9898

Fax:

617-261-6661

Key Executives for Preservation Of Affordable Housing, Inc.

Founder, Chief Executive Officer and President
Chief Financial Officer
Compensation as of Fiscal Year 2014.

Preservation Of Affordable Housing, Inc. Key Developments

MassHousing Closes $8.9 Million in Loans for the Central Annex Apartments of Preservation of Affordable Housing

MassHousing announced that it has closed $8.9 million in financing for the renovation and preservation of affordability at the 101-unit Central Annex Apartments for elderly and disabled residents in Pittsfield. The MassHousing financing includes a $5.4 million construction and permanent loan and a $3.5 million bridge loan. An additional $1.75 million is being provided from the Affordable Housing Trust Fund, which is managed by MassHousing on behalf of the state Department of Housing and Community Development (DHCD). Other funding for the development is being provided by DHCD and equity from the sale of Low Income Housing Tax Credits.

Preservation of Affordable Housing, Inc. Appoints Estelle Richman and Jarrett Barrios to Board of Directors

Preservation Of Affordable Housing, Inc. announced that Estelle Richman and Jarrett Barrios have joined the Board of Directors. Most recently, Richman was named Philadelphia Housing Authority Board Chair to oversee operations of the agency when it was under federal receivership for two years. She helped install a new management team and procedures that moved the agency forward and restored its credibility. As Senior Advisor to the Secretary of HUD, Richman provided oversight and management over the intersection between housing and social services and advised on the HUD budget. Barrios served as the president and CEO of the Blue Cross Blue Shield of Massachusetts Foundation and the Gay & Lesbian Alliance Against Defamation.

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