What does it take to create real impact in today’s housing market, especially when the odds are stacked against builders and buyers alike? For two NeighborWorks America network organizations, the answer lies in innovation, persistence and deep community partnerships. Nevada HAND and Eden Housing have earned National recognition among the Top 50 affordable housing developers for 2024, a testament to the powerful role local nonprofits play in expanding access to safe, affordable homes. The list, compiled by Affordable Housing Finance, includes Nevada HAND at No. 39 and Eden Housing at No. 45.
Earlier this spring NeighborWorks America, with the collective strength of the network, was listed among the top 100 homebuilders on the Builder 100 list compiled by Builder magazine. NeighborWorks America ranked No. 78.
The milestones highlight the scope and impact of NeighborWorks America and its network, in housing nationwide and demonstrating how the nonprofits are creating homes and building America.
In fiscal year 2024, for instance, the NeighborWorks network helped 16,269 households achieve homeownership, repaired 83,986 homes, and constructed, acquired and preserved 13,542 rental homes. Network organizations built and sold 747 homes in 2024.
“Today’s home construction environment is the toughest in many years and presents significant challenges for builders and buyers alike,” shares NeighborWorks America’s President & CEO Marietta Rodriguez. “Nevertheless, the commitment of NeighborWorks to help alleviate the nation’s housing supply challenges is clear-eyed and steadfast.”
The Affordable Housing Finance list highlights organizations with the highest number of project starts nationwide. Nevada HAND had 425 new starts and completed 220 homes; Eden Housing had 359 starts with 183 projects completed by the end of fiscal year 2024. Eden was also included on Affordable Housing Finance’s Top 50 Affordable Housing Owners of 2024. The lists were released in May, which is also Affordable Housing Awareness Month.
According to the U.S. Department of Housing and Urban Development, affordable housing is housing where the occupant is paying no more than 30% of gross income for housing costs – including utilities – allowing the homeowner or renter to have enough money for other costs. Freddie Mac has noted a nationwide housing shortage of 3.7 million homes, with other groups estimating even higher numbers.
Affordable housing has never been simple, says Wally Swenson, vice president, corporate affairs at Nevada HAND. But “this is an industry built on problem-solving. Tools like the Low-Income Housing Tax Credit (LIHTC) revolutionized the field decades ago by helping finance the development of millions of affordable homes across the country. Nevada HAND is fortunate to have an outstanding team of long-tenured experts in this field, and Nevada’s elected representatives in Congress and at the state and local levels are committed to identifying ways to create more housing.” His organization has made critical, real-time adaptations in the past and will continue to do so. “Our mission demands nothing less.”
Last year was one of the most productive years in Nevada HAND's history. “Every affordable unit represents a win for Nevada families and seniors,” Swenson says. “Being named to Affordable Housing Finance’s Top 50 Developers list was a tremendous honor and a reflection of the hard work and dedication of our entire team and community partners. At the same time, we’re most proud of what that recognition represents: more Nevadans with a safe, stable place to call home.
“We’re passionate about this work because innovation drives growth, allowing us to create more homes, strengthen communities, and continue making a lasting difference for Nevada families and seniors.”
The goals of Nevada HAND, Eden Housing and NeighborWorks have a similar core. Swenson sums things up: “In simplest terms, our goal is to help ensure every low-income family and senior household has a stable, affordable, high-quality place to call home and the support they need to truly thrive as members of our community.”
The mission for community developers is key, adds Andrea Osgood, Eden Housing’s chief of Real Estate Development and executive vice president. “There are always challenges in this work, especially during times of economic change and rising costs — but we remain deeply committed to our mission. What keeps us moving forward is the strong collaboration with our partners across cities, counties and the state who share our vision for safe, affordable
This year alone, Eden Housing is hosting 11 grand opening and groundbreaking events — “each a testament to the dedication and support of countless individuals and organizations working together to make these communities a reality,” says Osgood.
The organization continues to focus on creative strategies to close funding gaps, whether through cost
containment efforts, exploring innovative construction methods or identifying new and flexible funding sources. “We’re especially grateful to have secured Capital Magnet Fund (CMF) resources, which provide the kind of adaptable financing we need to move projects across the finish line. This kind of flexibility is more important than ever in today’s environment.”
The nonprofit’s goals are twofold: to build more affordable housing to help meet the need across California, and to be strong stewards of the organization’s existing portfolio. “It’s not just about creating new homes — it’s also about preserving and reinvesting in the communities we’ve already built, ensuring they remain safe, healthy and vibrant for the long term,” Osgood says.
For more than 45 years, NeighborWorks has put affordable housing at the forefront, and it shows. There’s still work to do. But separately and – especially – together, NeighborWorks and the network have made a significant impact.
