Homeowners Rehab Inc. and Cambridge Neighborhood Services (CNAHS) are private non-profit housing corporations whose Board members comprise a partnership of tenants, owners, City officials, lenders, and housing professionals working together to provide affordable housing in multi-family dwellings. Since 1983, HRI/CNAHS has continued to provide decent, safe, affordable housing through new construction, the acquisition of existing apartment buildings, and by lending rehab financing to private and non-profit owners of multi-family housing. Providing affordable housing is HRI's/CNAHS’ mission, our major distinctive competence, and our primary skill.
In the late 1980s, after five successful years of lending, HRI and CNAHS realized that multi-family property owners were reluctant to rent their apartments to lower income families so we decided that the best way to remedy this situation was to join forces with Homeowner’s Rehab, Inc. (HRI) and become a developer, owner and operator of affordable housing. HRI is a separate and independent Community Development Corporation (CDC).
All CNAHS activities are geared toward the creation of new and the preservation of existing affordable housing in both the public and private sector. We are especially committed to the non-profit control of rental housing with an active resident role. While CNAHS is a partner with Homeowner’s Rehab, Inc. in many of its activities, CNAHS has the sole responsibility for the loan programs. CNAHS activities include the provision of financial assistance in the form of below market rate or deferred payment loans to make rehab projects feasible and affordable for tenants, owners, lenders, and City agencies involved. CNAHS also provides technical assistance to owners in rehab construction, property management, and financing. In addition, CNAHS provides tenant/landlord counseling and act as liaison with City agencies. In return for this assistance, owners commit to keep rents affordable for a specific term.
HRI and CNAHS are a 501(c)3 organization.