Sustainable Housing, Gulf Coast Rebuilding Focus of Enterprise's 2006 Innovative Venture Awards
Award program supports America's communities
Columbia, Md. (November 15, 2006) – Sustainable, energy-saving building practices and gulf coast rebuilding efforts received both recognition and a financial boost as part of Enterprise Community Investment, Inc.’s (Enterprise) 2006 Innovative Venture Awards. Enterprise is a national organization that works to fuel community revitalization through its financial, development and technical resources.
The awardees, Lower East Side People’s Mutual Housing Association (LESPMHA) and St. Vincent de Paul Society of Lane County, were honored for their deep commitment to building affordable housing that is sustainable for the long-term. Bennett and Company and Humanitas were honored for their immediate response to the housing crisis following Hurricane Katrina and their contributions to rebuilding an equitable New Orleans with high-quality affordable housing. All four organizations received a crystal obelisk and $50,000 to advance their leadership role in affordable housing and community development.
“We are thrilled to present these awards to such deserving partners, who truly demonstrate what can be accomplished in community development when we work together,” said Jeff Donahue, president and CEO of Enterprise Community Investment, Inc. Enterprise established the Innovative Venture Awards in 2005 to acknowledge those partners whose innovative approach to community development is increasing the supply of affordable housing and transforming the quality of life for many low-income Americans.
A nonprofit organization in New York, LESPMHA’s mission is to provide long-term affordable housing for low- and moderate-income New Yorkers and preserve the Lower East Side as an economically and ethnically integrated community. “I became interested in energy efficiency and realized how easily money could be saved,” said Mary Spink, LESPMHA’s executive director. Under Spink’s direction, LESPMHA has developed nearly 140 housing units that incorporate green building features. Spink estimates that energy costs for these properties are 70 to 85 percent below energy costs for traditionally built housing.
St. Vincent de Paul Society of Lane County (SVDP) in Portland, Ore. was committed to green building even before the concept became mainstream. SVDP practices green in individual housing developments and also as an organization, continually seeking ways to perform in a more sustainable fashion. “We have a strong commitment to sustainability and working within our community to identify needs, and turn difficulties into opportunities to make housing affordable for the long-term,” said Executive Director Terry McDonald.
“The Innovative Venture Awards program was established to support our partners’ forward thinking in affordable housing and community development. I commend this year’s recipients on the innovative work they’re doing,” said Charlie Werhane, vice chairman and COO, Enterprise Community Investment, Inc.
Auburn, Ala. based Bennett and Company’s mission is focused on capacity building for nonprofits and delivering the highest quality affordable housing to residents. The company continues to be highly responsive to the needs of residents affected by Hurricane Katrina. “We try to work with partners who think outside the box. We never cut corners, and try to give the very best to our residents,” said company founder Fred Bennett. The company’s approach to creating attractive single family affordable rental units has helped create communities with less crime, less turnover and greater resident satisfaction.
Formed in 1990 as the social outreach ministry of Mount Tabor Baptist Church, Humanitas was originally a volunteer corps providing emergency assistance to those in need of food clothing and/or shelter to New Orleans residents. Since 2000, the group has focused on developing affordable housing for families and individuals, including permanent housing for the homeless, elderly and people with disabilities. “We want to rebuild and bring our neighbors home,” said Humanitas Executive Director Bridget Vinson. “We have suffered, but we are more committed than ever to create quality affordable housing,” she said.
In the gulf region, Enterprise has committed to provide $200 million in funding to help create more than 10,000 healthy sustainable homes by 2008.
Enterprise also supports sustainable building with its Green Communities initiative, a partnership with the Natural Resources Defense Council to transform the way communities think about, design and build affordable housing. Green Communities will provide $555 million of grants, loans and equity to build more than 8,500 rental and for-sale homes the promote health, conserve energy and enhance access to jobs, schools and services.
Enterprise Community Investment, Inc. (Enterprise) is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. 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 two decades, Enterprise has privately raised $7 billion in capital to finance affordable housing, 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. Visit www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.
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