Louisville, KY – May 7, 2014 – (RealEstateRama) — Faced with increasing pressure to keep rents affordable and find better ways to finance new construction and maintenance of existing affordable housing, more than 130 nonprofit owners and managers of affordable rental apartments are coming to Louisville, KY to exchange successful business ideas as part of a special meeting of the Consortium for Housing and Asset Management (CHAM) being held in conjunction with the NeighborWorks Training Institute, May 19-23.
CHAM is a collaboration between NeighborWorks America, Local Initiatives Support Corporation and Enterprise Community Partners that enables community-based organizations and others in the nonprofit housing industry to responsibly own and professionally manage affordable rental housing. More than 300 rental housing portfolio managers are currently enrolled in the CHAM certificate program, and fifty-two managers have finished the rigorous course work to earn the certification.
The Louisville CHAM meeting is sponsored by JP Morgan Chase Foundation and the Ohio Capital Corporation for Housing, and the NeighborWorks Training Institute is locally co-hosted by Louisville-based New Directions Housing Corporation and The Housing Partnership, Inc., (HPI) both members of the NeighborWorks network. Together, New Directions and HPI own or manage more than 2,100 apartment homes.
“The nonprofit housing community is on the frontlines, creating and maintaining affordable rental housing that helps to strengthen communities one home at a time,” said NeighborWorks America vice president for real estate Thomas P. Deyo. “The skills that owners and managers learn from participating in CHAM and other asset management courses from NeighborWorks America are a tremendous help in overseeing sound portfolios that keep the benefit of lower cost housing a reality for low- and moderate-income households and continue to create value in communities.”
“We’re honored to be a sponsor of the NeighborWorks America program here in Louisville designed to make affordable housing stronger and more available for families,” said Tony DiBlasi, chief of asset management at Ohio Capital Corporation for Housing. “In our Asset Management department, we are highly focused on actively monitoring our portfolio so we can identify and mitigate risk. The training we have received from both CHAM classes and the CHAM conferences have provided our team with critical skills, enabling our asset managers to be more effective with their important work.”
“Supporting affordable housing investments is an important part of our business and community banking mission at the JP Morgan Chase Foundation,” said Janis Bowdler, managing director, Consumer Financial Empowerment and Affordable Housing, JPMorgan Chase Foundation. “We’re excited to be able to help share the ideas and strategies that make rental housing more accessible and sustainable for individuals and families across the country.”
Active management of affordable housing properties is the best way to maintain affordability and quality. The CHAM certification helps portfolio managers build the following skills:
Evaluate performance of real estate assets and successfully intervene in problems affecting those assets;
Fulfill the owner’s mission and goals for the properties;
Monitor and measure resident-engagement initiatives which affect the properties;
Develop an asset management plan specific to their organization’s goals and requirements that will assure the sustainability of its rental housing;
Conduct sophisticated analysis of real estate assets and management costs; and
Effectively interpret and manage data, human resources, and partnerships to maximize property assets.
“When these professional skills are combined with an affordable housing and community development mission, existing and new renters all across America are the beneficiaries,” said Deyo.
About NeighborWorks America
NeighborWorks America has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $19.5 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development, financial capability and affordable housing professionals.
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