Enterprise Community Partners, formerly The Enterprise Foundation, is a national nonprofit organization that brings together nationwide know-how, partners, policy leadership and investment to multiply the impact of local affordable housing development. Founded in 1982 by developer/philanthropist James W. Rouse and his wife Patty, Enterprise has worked with community-based nonprofit organizations to develop 585,000 homes, investing $43 billion throughout the United States. Enterprise is a family of companies comprising Enterprise Community Partners and its related organizations: Enterprise Community Investment, which brings capital to communities via Housing Credit equity through Enterprise Housing Credit Investments, LLC, as well as New Markets Tax Credits, Conventional Equity and more; Enterprise Community Asset Management ; Enterprise Community Loan Fund ; Enterprise Homes and Community Preservation and Development Corporation and Bellwether Enterprise Real Estate Capital. The organization has 11 regional markets and office locations across the country, including a team in Washington, D.C. that advocates for changes to federal affordable housing policy.
Mission
is to create opportunity for low- and moderate income people through affordable housing in diverse, thriving communities. Where we live matters: Enterprise makes well-designed homes affordable and creates communities with connections to opportunity so everyone can thrive. They deliver capital, develop the programs and advocate for the policies needed to create and preserve well-designed homes that people can afford in inclusive and connected communities.
History
In 1972, three members of the Church of the Saviour, Terry Flood, Barbara Moore and Carolyn Banker wanted to create low-income housing in the Adams Morgan neighborhood of D.C. With no development, financial or construction experience, they put down a non-refundable deposit to purchase the Ritz and Mozart apartment buildings. Their commitment won over James Rouse, CEO of The Rouse Company and he helped them secure $625,000 to complete the transaction and $125,000 toward the cost of rehabilitation. In 1981 the experience inspired Jim Rouse to found Robin Hood Inc. based in the Rouse owned American City building in Columbia, Maryland. The company was renamed to Jubilee Housing to help with fundraising efforts. Jubilee Housing provided the launchpad for Jim and Patty Rouse to start the Enterprise Foundation in 1982. In 2005, it was renamed Enterprise Community Partners. Today, Enterprise continues to work to uphold the standards set by Jim and Patty to see that all people have the opportunity for affordable housing. In 1984, Jim Rouse was soliciting business representing both Rouse Company as CEO and Enterprise Development as president. The Rouse Company board of directors asked Jim Rouse to leave as CEO of the Rouse Company and his position in Enterprise Development which ended his involvement with the company he founded.
Campaigns & Coalitions
Enterprise Green Communities
Enterprise developed the national standards for greener, healthier communities. On October 8, 2009, Enterprise Community Partners announced a $4 billion commitment to the next generation of its Green Communities initiative. Enterprise said its efforts will result directly in the creation, preservation, or retrofit of 75,000 green homes and community and commercial buildings over the next five years. The group will provide loans to owners of existing multi-family buildings in key markets for capital purchases that will reduce energy and water consumption or will lead to more healthy living environments. Enterprise relies on support from a number of banks and foundations, and it is currently drawing on $2.5 million in grants for fundraising. Enterprise also issued a national call to action to make all affordable housing in the United States meet green criteria by 2020. To provide background, the organization released a study proving the overall return on investment of meeting its . Based on years of research, the report, "Incremental Cost, Measurable Savings: Enterprise," finds that the estimated lifetime savings exceed the initial investment made to incorporate the Green Communities Criteria into affordable housing during construction.
