Enterprise is a leader in socially-driven capital investment. We pioneer new financial tools and match socially-conscious investors with opportunities that yield economic returns alongside intentional and measurable impact for communities.
||18,205 Affordable Homes
|Low-Income Housing Tax Credit
||6,145 Affordable Homes
|New Markets Tax Credit
||169,000 Square Feet
|Bellwether Enterprise Real Estate Capital, LLC
||9,350 Affordable Homes
|Enterprise Community Loan Fund
||4,666 Affordable Homes
|Multifamily Opportunity Fund
||344 Affordable Homes
|| $85.8 million
||464 Affordable Homes
||4,662 Affordable Homes
Totals may include homes that have been financed by more than one Enterprise product or service.
Enterprise has experts on the ground, from coast to coast, working with local partners to test and scale new solutions. Our efforts target some of the most pressing housing and economic problems facing low-income communities.
Advisory and strategic support for state and local governments on housing and community development issues.
- Led by Enterprise Advisors, the National Resource Network (NRN) was active in 42 cities across the country and performed a total of 23 assessments. The NRN also completed an in-depth engagement with the city of Miami to help address the area’s housing shortage and decrease the number of working poor and children in poverty.
- Provided Rental Assistance Demonstration (RAD) technical assistance to 187 public housing authorities in 37 states. At the end of 2015, 42 public housing authorities gained the assistance needed to successfully complete their RAD conversions.
- Delivered presentations at five Rockefeller Foundation-sponsored National Disaster Resilience Competition (NDRC) academies. Also provided one-on-one assistance to state and local governments to improve their NDRC applications, including New Orleans, which was successfully awarded $141.2 million by HUD to implement citywide resilience projects.
We work in 10 major markets to develop innovative programs, provide critical capital and lead policy and advocacy efforts to end housing insecurity in communities nationwide.
- Helped 10 organizations develop and begin implementing portfolio-wide sustainability strategies across their collective portfolio of more than 7,000 homes through the Enterprise Sustainability Exchange.
- Awarded more than $1 million in grants to support affordable housing nonprofits to improve real estate planning, pursue Transit-Oriented Development (TOD) opportunities, advance green housing and pursue place-specific revitalization strategies.
- Invested $600 million in the region to support the creation of a wide range of housing and community development initiatives, including new and rehabilitated affordable housing, health care centers and other community assets.
- Launched the Denver Social Impact Bond to provide housing and supportive services to Denver’s chronically homeless. By 2017, the program will have served 250 people.
- Closed five new loans through Denver Regional TOD Fund and reached the midway point (1,000 homes) of our goal to create 2,000 affordable homes by 2024.
- Helped Denver update the city’s affordable housing preservation laws while helping affect the creation of new revenue sources for affordable homes.
- Invested more than $320 million and helped create or preserve 9,360 homes as the nation marked the 10th anniversary of Hurricane Katrina.
- Completed nearly 600 homes with our partners at Faubourg Lafitte and remain committed to replacing all 900 subsidized homes of the original Lafitte public housing complex, plus an additional 600 market-rate homes.
- President Obama visited Faubourg Lafitte in August 2015, saying: “What you’re seeing here is an example of the incredible federal, state, local partnerships that have helped to revitalize this community – not just with this housing, which is all new – but also a new school in that direction, a community center in that direction.”
- Provided more than $110 million in financing to support the preservation and creation of more than 2,100 affordable homes.
- Sponsored the release of two critical reports as a lead co-convener of the Greater Washington Housing Leaders Group: “Call the Question: Will the Greater Washington Region Collaborate and Invest to Solve Its Affordable Housing Shortage?” and “The Washington Region’s Future Housing Needs: 2023.”
- Created “Ready to Respond Tools for Resilience” which were co-launched with HUD at a symposium with 300 affordable housing and resilience leaders. The tools have been downloaded on the Enterprise Resource Center nearly 1,000 times.
- Expanded Come Home NYC – a groundbreaking initiative enabling high-quality owner operators to help end family homelessness – to 300 families with support from the New York State Attorney General and $1.5 million from the Robin Hood Foundation.
- Published eight thought leadership pieces, including in The New York Times, that helped drive state and local policy victories in supportive housing and green preservation.
- Provided technical assistance to cities, transit agencies and affordable housing developers to access cap-and-trade dollars to build green, affordable homes that are connected to key amenities by bike and pedestrian networks and public transit.
- Co-chaired Oakland Mayor Libby Schaaf’s Housing Implementation Cabinet that created a plan to protect housing affordability through the preservation and creation of 34,000 homes in the next eight years.
- Partnered with the city and community-based developers to successfully transfer ownership of 1,425 units of San Francisco’s Public Housing using HUD’s Rental Assistance Demonstration (RAD), as part of the largest public housing portfolio conversion in the country.
- Led the nation’s first county-level Pay for Success project. Over the next five years, the program will help 135 homeless families obtain stable housing while working toward reuniting with their children in foster care.
- Provided 100 permanent supportive homes to chronically homeless families and young adults through the Enterprise-led Housing First Initiative, bringing Cuyahoga County close to ending chronic homelessness.
- Invested more than $40 million in the Cuyahoga Metropolitan Housing Authority to bring nearly 440 new homes to key neighborhoods throughout Cleveland.
- Celebrated the openings of the first two new developments at Yesler Terrace, a public housing community currently undergoing a major transformation in a rapidly gentrifying neighborhood near downtown Seattle. These two developments, both financed in part by Enterprise, provide nearly 225 affordable homes connected to opportunity.
- Developed the Housing Affordability and Livability Agenda as part of an advisory committee appointed by Seattle Mayor Ed Murray to address the city’s extreme housing cost challenges.
- Connected more than 880 homeless individuals to privately-owned affordable homes through the Open Doors Program, a partnership between Enterprise, Project Community Connections and the Atlanta Real Estate Collaborative.
- Helped encourage the development of more affordable housing near public transit through policy victories through The TransFormation Alliance – of which Enterprise is a member.
- Provided grants to support the eventual development or preservation of more than 950 affordable homes. Nearly 130 homes have already closed on financing or completed development.
- Renewed the New Generation Fund and reached the investment milestone of $100 million toward the creation and preservation of affordable housing in Los Angeles, resulting in more than 2,000 homes. The fund is a public-private partnership with Enterprise, Los Angeles Housing + Community Investment Department and a consortium of banks.
- Delivered the “Embracing Success in Merging Populations” training series for housing developers and service providers to address the integration of services to mixed-income residents.
Cross-cutting initiatives in a range of areas.
Building Sustainable Organizations
- Provided grant funding to numerous organizations to support the creation of more sustainable portfolios and community organizations. Helped lead quarterly preservation peer-to-peer webinars where case studies were shared and best practices, challenges and lessons were discussed.
- Helped revise the Cleveland Housing Network’s “Lease to Own Manual” to assist organizations who use the Low-Income Housing Tax Credit (LIHTC) to develop affordable housing for low-income families. With a focus on resident success, the manual helps ensure the long-term viability of LIHTC developments.
- Received a record number of applications for the Enterprise Rose Architectural Fellowship during which six architectural designers will pursue equitable community development through design with A Better City, Capitol Hill Housing, Denver Housing Authority, Hudson River Housing and MASS Design Group, New York City Housing Authority, and Thunder Valley CDC.
- Researched and developed an outcomes-based design process aimed at identifying, addressing and measuring progress towards resident wellness, sustainability and educational outcomes.
- Released “Made With Love,” a collection of recipes for change that highlights Rose Fellows’ participatory design projects that were created in collaboration with eight communities across the country.
Health and Housing
- Completed a “Health in Housing” study that demonstrates how affordable housing with services improves resident health while creating cost savings for Medicaid.
- Partnered with the Health Impact Project (a partnership between the Robert Wood Johnson Foundation (RWJF) and The Pew Charitable Trusts) to introduce Design for Health and Health Action Planning measures in the 2015 Enterprise Green Communities Criteria.
Enterprise Green Communities
- Launched the 2015 Enterprise Green Communities Criteria, advancing critical work to create healthy, sustainable affordable housing and environments through an award-winning framework encompassing integrative design, health, resilience, water and energy efficiency, and connections to transit and opportunity.
- The vast majority of Enterprise’s Low-Income Housing Tax Credit developments demonstrated green performance standards. Total Enterprise Green Communities certification activity grew by more than 200 developments, spanning 20,000 homes.
- Worked with HUD to deliver over $1 million worth of technical assistance to 11 large owner portfolios, encompassing operator training, resident engagement and overall environmental performance.
Rural & Native American
- Celebrated the opening of the Apsaalooke Warrior Apartments in Crow Agency, Montana. This tribal supportive housing development serves homeless individuals on the reservation with a priority toward veterans. Enterprise provided capacity building resources, construction financing and Low-Income Housing Tax Credit equity.
- Provided training and resources to Colorado that resulted in a major shift in how the state supports the homeless. As a result, 250 new permanent, supportive homes have been funded, and supportive housing is now part of the selection criteria as the state decides where to allocate Low-Income Housing Tax Credits and other state resources.
Transit-Oriented Development (TOD)
On Capitol Hill and in statehouses nationwide, our track record of developing and advocating for sound, bipartisan policies makes us a crucial voice for low-income families.
2015 Successes Include:
Low-Income Housing Tax Credit (Housing Credit) and the New Markets Tax Credit (NMTC) advocacy helped:
- – Make the minimum 9 percent Housing Credit permanent
- – Extend the NMTC for five years
Advocacy campaigns and significant bipartisan congressional support helped:
- – Fund the Section 4 Capacity Building Program in full
- – Increase HOME funding from $900 to $950 million
- – Increase appropriations to the Community Development Financial Institution (CDFI) Fund and reauthorize the CDFI Bond Guarantee Program
- – Pay for Success multifamily energy and water conservation demonstration was signed into law as a result of our advocacy and ability to capitalize on a unique legislative opportunity.
Building off our organizational experience and subject matter expertise, our engagement with regulators allowed us to meaningfully promote policies supportive of increased opportunity and affordability:
- – FHFA expanded its multifamily housing goals
- – HUD’s landmark fair housing rule reflects a balanced approach to community development
Research: Reports and Publications
Published several research and thought leadership reports:
State and Local Levels
In 2015 we helped bring in new housing resources in many of Enterprise’s key markets, including the passage of a $310 million housing bond in San Francisco, an appropriation of $100 million to the local housing trust fund in Washington, D.C., and a commitment to create 35,000 new units of supportive housing in New York.
Enterprise supported the development of comprehensive affordable housing plans in cities like Seattle and Oakland, and we successfully pushed back efforts to reduce affordable housing funding in states like Ohio and Illinois. We also significantly expanded our state and local policy capacity in 2015, adding a national coordinator and dedicated policy staff in our New York, Ohio, Gulf Coast and Denver offices.
Make Room is a national campaign giving voice to struggling renters and elevating rental housing on the agendas of our nation’s leaders.