Happy Holidays from Enterprise
Thank you for reading the latest issue of D.C. Metro Report highlighting Enterprise’s work in the Washington, D.C., metro area. During this year of ongoing economic stress, we have continued to work with our partners to preserve and expand the supply of affordable homes for low- and moderate-income residents. As you read about our efforts, please remember that each affordable housing unit we create or preserve is a home for an individual or family – a place of comfort, safety and fellowship.To all of you who have in supported Enterprise with your time, talent and financial contributions during this past year, we thank you. As we move in to 2011, I ask you to consider donating to Enterprise or investing with us through the Enterprise Community Impact Note, a new way to make money while making an impact in our community.
Have a blessed holiday season and a new year full of realized potential.
David Bowers
Faith-Based Development Initiative Kicks-off Another Successful Season
Enterprise hosted the semi-annual Faith Leaders Networking Luncheon on Dec. 16. Faith leaders around the region shared their affordable housing and community development challenges and successes.
For more information on Faith-Based Development Initiative, contact Jessica Rafferty.
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| Source: PGN Architects, PLLC. |
Featured Partner: Matthews Memorial Church Celebrates Ground Breaking
Matthews Memorial Baptist Church celebrated the groundbreaking of Matthews Memorial Terrace on Oct. 8. The planned community will include commercial and community space, and a 99-unit affordable apartment building the Barry Farm neighborhood of southeast Washington, D.C. Built on land owned by the church, the $21.7 million development is part of the city’s New Communities Initiative to bring much needed affordable housing and community services to this rapidly changing neighborhood.Enterprise provided a Faith-Based Development Initiative grant in the amount of $10,000 to the development of Matthews Memorial Terrace, which helped to pay for early pre-development costs.
Volunteers Carry on Rich Tradition Nationwide
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As part of Enterprise’s long-standing tradition of service, Washington, D.C., staff and supporters offered their hands and hearts for the annual James W. Rouse Community Service Day in September. Volunteers helped clean, paint and fix up an affordable housing property located at the Colorado Avenue Northwest Cooperative. Nixon Peabody and the National Housing Trust also participated in and supported the event.
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Eco-Friendly Facelift Unveiled This Fall
Wheeler Terrace, a 116-unit affordable apartment community in southeast Washington, D.C., got a $32 million green facelift this year, and residents joined Enterprise and partners in September to celebrate. The renovations exceed D.C.’s new standards for sustainable design, which are based on the Enterprise Green Communities Criteria. Existing building systems were replaced, walls were widened to provide additional insulation and energy-efficient windows, and Energy Star-rated appliances were installed. Additionally, geothermal wells were installed, aiding in a more efficient HVAC system, one of the buildings even has a green roof.Enterprise supported the developer, Community Preservation and Development Corporation (CPDC), with a $4 million acquisition loan from Enterprise Community Loan Fund, a $50,000 green grant and a $25,000 predevelopment loan to the Wheeler Terrace Apartments Tenant Association. The completion of Wheeler Terrace ensures that more than 500 families will be able to live in healthier and more energy-efficient homes.
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| Courtyard at The Summit at St. Martin’s |
The Summit at St. Martin’s Opens its Doors
Catholic Charities of the Archdiocese of Washington opened the doors to its new apartment community, The Summit at St. Martin's, on Oct. 25. Of the 178 apartments building on T Street, N.E., in Washington, D.C., 128 will be set aside for residents earning between 30 and 60 percent of the area median income, and 50 will be set aside for residents earning up to 30 percent of the area median income.Enterprise supported the development of St. Martin’s with a $10,000 predevelopment grant through the Faith-Based Development initiative, and $11 million in Low-Income Housing Tax Credit equity. Other development partners include D.C. Housing Finance Agency, the D.C. Department of Housing and Community Development, D.C. Housing Authority, the William S. Abell Foundation, Victory Housing and the Washington Interfaith Network.
St. Dennis Apartments, Washington, D.C.
Eva Martinez and her two daughters once endured countless hazards living at St. Dennis Apartments as a neglectful owner sought to drive out residents and sell the building. But the Martinez family refused to leave and allow the loss of much-needed affordable housing in their community. With help from the National Housing Trust/Enterprise Preservation Corporation and other supporters, they formed a tenant's co-operative and secured financing to purchase the property - and keep it affordable. On Nov. 17, residents joined Enterprise, NHT and partners to kick-off a new beginning for St. Dennis, a green renovation providing updated, energy-efficient affordable apartments.|
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David Bowers (right) accepts an award for Enterprise as a 10th Year Anniversary Platinum Sponsor and supporter of CNHED. |
Enterprise Acknowledged for Ten Years of Support
The Coalition of Nonprofit Housing and Economic Development celebrated its tenth year anniversary Nov. 9 at Eatonville Restaurant in northwest Washington D.C. More than 200 affordable housing industry leaders and supporters gathered. CNHED honored Enterprise with an anniversary award for its integral contributions to the coalition's formation and continued success.In the News
The Washington Business Journal recently highlighted the Enterprise Community Impact Note as an innovative new tool for generating new capital for much-needed affordable housing in the D.C. area. The Enterprise Community Impact Note raises money from investors to deploy into communities to build or preserve affordable housing and community enhancing projects, allowing businesses and individuals to align their investment and social values.
People on the Move
Monica Warren Jones, director of relationship management, was recently elected to the State Board of Education Representatives from Ward 6 in Washington, D.C. Monica was endorsed by a range of stakeholders, including the Washington Post, Ward 6 councilmembers and the current State Board of Education President.
Jessica Rafferty joined the Enterprise team as a program analyst. She will support the Faith-Based Development Initiative and local transit-oriented development efforts.