New Hope Housing, Inc.
When Houston LISC offered New Hope Housing the opportunity to have a NeighborWorks assessment, President and CEO Joy Horak-Brown was delighted and honored. New Hope Housing had established itself over 22 years as a respected developer, owner, and manager of high quality, affordable single room occupancy (SRO) apartments. By early 2015, the organization had two complex transactions in process requiring some skills that were different from their established strengths.
“New Hope Housing is at a critical inflection point as we expand our mission with two first-ever developments,” said Ms. Horak-Brown. “During the time of the assessment, we were preparing to break ground on our first supportive housing for homeless and at-risk families and our first mixed-use development, which will both open by spring 2018. The key objective of the assessment was to review our asset and property management functions and to help us develop strategies for continued growth. The entire process was handled with professionalism and sensitivity. It provided invaluable guidance at a unique time in New Hope Housing’s history.”
Currently, New Hope Housing’s almost 1,000 apartments are SROs serving adults with limited incomes. By 2018, New Hope will operate nearly 1,200 supportive housing units in Houston, including 187 units of family supportive housing. As the organization nears this important milestone, they move toward broadening their client focus even more. The organization and its properties have received numerous prestigious awards for excellence in design, development, and community impact.
Recommendations from the OAS assessment supported New Hope Housing in its transition from a small to a mid-size nonprofit housing developer. The final report outlined strategies to better define asset management roles and to improve skills and aptitudes. Since the assessment, New Hope Housing has restructured its property management, maintenance, and resident services team; executive staff has attended trainings on asset and tax credit housing management. New Hope Housing also strengthened the Management/Operations Committee of the board. “We are confident that stronger asset management will bolster long-term property sustainability and reinforce New Hope Housing’s already excellent property management and resident services delivery,” said Ms. Horak-Brown.
"The entire process was handled with professionalism and sensitivity. It provided invaluable guidance at a unique time in New Hope’s history."
- Joy Horak-Brown, President and CEO, New Hope Housing, Inc.