Enterprise Community Development (Enterprise) was one of a select number of developers to be awarded grants from the U.S. Department of Housing and Urban Development (HUD) to support its development of new affordable multi-family rental housing in the country. Enterprise is one of only three organizations to receive multiple awards in 2021.
Of the $143 million in grants awarded to non-profit organizations across the country, Enterprise received awards totaling $9.1 million for three projects in Baltimore and Washington, D.C – six percent of the overall awards amount. Those projects – Edgewood Commons in Washington, D.C., and Greens at Irvington Mews and Park Heights Place in Baltimore – were the only awarded projects in the Mid-Atlantic region and account for 13% of the total units awarded nationally.
“HUD clearly understands the need to build and preserve quality housing for our nation’s seniors. We’re honored they recognized and have tapped into the experience and expertise of Enterprise Community Development, and we’re looking forward to partnering with them,” said Christine Madigan, executive vice president and Chief Business Officer for Enterprise Community Development.
The awards were made under HUD’s Section 202 Supportive Housing for the Elderly program and will help fund the construction and operation of new, rent-assisted units for low- and very low-income seniors who will pay rent based on their income.
For each of its projects that were awarded grants, Enterprise Community Development partnered with other divisions of Enterprise Community Partners to ensure that the vision for each project followed a cohesive vision. For Edgewood Commons, Enterprise Advisors was engaged to perform a site and neighborhood standards evaluation which addressed HUD’s fair housing requirements by highlighting the great need for elderly affordable housing in a gentrifying neighborhood of Washington, D.C., and will be one of the first 20 projects to meet the new 2020 Enterprise Green Communities standards. With Irvington Mews, RDG was engaged to enlist the support of the Weinberg Foundation, an important neighborhood partner. And, for Park Heights Place, the development and Community Impact Strategies teams worked closely to structure a new resident services plan for the 84 units of very low-income income elderly housing, with more than half the units serving residents below 40% and 30% AMI. Additional collaboration across the various Enterprise Community Partners divisions included Enterprise’s Capital division, which provided tax credits and Enterprise’s Solutions division, which assisted with local support.
“These awards support the Biden-Harris Administration’s commitment to increase housing stability among the nation’s most vulnerable populations, including the very low-income seniors these grants will ultimately help,” said Office of Housing Principal Deputy Assistant Secretary Lopa Kolluri in the HUD-issued press release announcing the awards.
Enterprise Community Development is the top nonprofit owner and developer of affordable homes in the Mid-Atlantic. Formed from two Mid-Atlantic affordable housing powerhouses, Enterprise Homes, Inc. and Community Preservation and Development Corporation, Enterprise specializes in high-impact residential development, proper-ty management and resident supportive services. With 60 years of collective experience, Enterprise’s $1 billion portfolio includes 16,000 well-designed homes in over 110 communities to support over 22,000 residents. Enterprise has offices in Baltimore, Washington, D.C. and Richmond and is part of the Enterprise Community Partners’ family of companies. For more information, visit www.enterprisecommunitydevelopment.org.
