Enterprise Community Investment, Inc. is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities.
Founded in 1984 as a socially motivated for-profit corporation, we work in unison with our parent organization, Enterprise Community Partners, Inc., to provide a "single source" for financing needs and expertise related to affordable housing and community development.
Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits; short and long-term debt, and development services to capitalize projects that make a catalytic difference in communities.
For over 25 years, Enterprise has privately raised over $9 billion in capital to finance more than 240,000 affordable homes, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of $1 billion a year.
Low-Income Housing Tax Credits
- Raised more than $6.6 billion in Low-Income Housing Tax Credit equity through more than 95 investment funds.
- Financed more than 1,600 LIHTC properties totaling more than 93,000 affordable housing units under asset management.
Permanent Financing – Debt
- Financed more than $436 million in new construction, preservation and rehabilitation mortgages, resulting in 15,000 affordable rental apartments.
- Preserved affordability for 5,000 rental homes.
New Markets Tax Credits
- Received $515 million through the New Markets Tax Credit (NMTC) program, making Enterprise’s allocation the highest in the nation.
- Placed over $415 million in commercial and mixed-use developments in urban centers and rural communities, with total development costs of over $3 billion, resulting in more than 5.8 million square feet.
Development
- Nearly 6,200 rental homes and residences completed or under development.
Short-Term Lending
- Partnered with 45 investors to capitalize $348 million loan fund.
- Financed more than $725 million into low-income communities, helping to build or renovate more than 78,000 affordable housing units.
Partner Solutions
- Allocate $7-$9 million in grant funding annually through a competitive application process.
- Offer models and best practices to improve communities through resident services, homeownership and education initiatives.
Workforce Housing
- Launched a new private equity fund, The Maryland Regional Workforce Housing Fund I, LLC, that will invest with developers and builders in the creation of for-sale and rental workforce housing in communities in Maryland, Washington D.C., and Northern Virginia, to achieve double-bottom line objectives: risk-adjusted market rates of return (the first bottom line) and targeted housing creation, measurable jobs and wealth creation, and community revitalization (the second bottom line).
All figures are as of 04/08. |
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