Denver Transit Oriented Development Fund For Affordable Housing

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Enterprise Community Partners, the Urban Land Conservancy (ULC), the City and County of Denver, and several other investors have combined to found the first affordable housing TOD acquisition fund in the United States.

The purpose of the TOD Fund is to support the construction of up to 1,200 low cost living units through property acquisition in current and future transit areas. The Fund addresses a real estate market paradox: when economy activity is down, property values are down making bargain buys. However, there isn’t money or affordable housing developers. Today there is a great opportunity to purchase real estate around proposed transit stations and prepare affordable housing before the FasTracks light rail is operational.

Enterprise Community Partners, a nationwide nonprofit, donated the first $15 million to enable the Fund to get going in 2010.

Enterprise Community Partners

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Enterprise Community Partners assists in building and/or repairing affordable housing for low income families. They work to assist communities or to build new communities so that families can have the security and peace of mind. All of the units that they build are green, making sure to use water and electricity effectively and the additional costs of green construction are made up in cost savings in future years.

An example of Enterprise Community Partners in action followed the three hurricanes that swept the gulf coast. The levees along the coast line gave way and many homes along the shore were destroyed. These were mainly low income families’ homes. The main possession of these people was their homes. People had lived there for generations in these houses and now entire communities were destroyed.

Enterprise Community Partners (ECP) came in with four pronged strategy to save the situation.

First, ECP worked with all levels of government to support polices that would help recovery and would make building a priority.

Second, they formed partnerships to strengthen local organizations to help in the immediate recovery work and to steer ongoing building activities.

Third, ECP designed innovative housing designs and construction methods that would be appropriate for that region.

Fourth, ECP gave and raised capital for ongoing construction work that would be sustained after the initial emergency relief ended.  They committed to give up to 200 million dollars to repair and build up to 10,000 homes.

So far, ECP has invested $135 million and has repaired or built over 5,000 homes.

Enterprise Community Partners (ECP) helps in the following ten locations: Atlanta, Baltimore, Dallas, the Gulf Coast, Los Angeles, New York, Northern California, Ohio, The Pacific Northwest, and Washington D.C.

Thanks to ECP, many low income families have the peace of mind of living in decent homes.

Enterprise Community Partners Turns 25

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Baltimore County Executive James T. Smith, Jr., Baltimore County Councilman Kenneth N. Oliver, District 4, and other state and local dignitaries joined Enterprise Homes, Inc. to celebrate the company’s 25th anniversary at a “topping off” and
flag raising ceremony at The Greens at Liberty Road in Randallstown, Md. When completed, the new green apartment building will feature 105 affordable rental homes for low- and moderate income seniors.

The $15.6 million Greens at Liberty Road is one of six developments totaling 600 homes now being developed or slated to close on financing by Enterprise Homes, which is celebrating 25 years as a leading developer of affordable and mixed-income communities in the mid-Atlantic region.

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