California has one of the highest rates of foreclosure in the country. Communities are coping with vacant and abandoned properties, sinking property values and blighted streetscapes. In San Francisco, many of the city’s public housing developments are old and in extreme disrepair, forcing residents to live in dreary and sometimes unsafe conditions.
Enterprise works with our partners in the city of San Francisco and throughout Northern California to help reduce the impact of the foreclosure crisis, and to turn deteriorating public housing into green, affordable homes for people of all incomes. We also provide expertise, support and policy advocacy on public housing redevelopment and mixed-income communities.
Northern California Profile (PDF, 207K)
. Thanks to Enterprise’s Green Communities initiative, the industry is rethinking the way affordable housing is designed and built. Our five-year initiative invested $700 million to build nearly 16,000 green affordable homes, and demonstrated that green affordable housing is attainable. That it produces measurable long-term cost savings. And it brings health, economic and environmental benefits that will sustain communities into the next generation and beyond. Enterprise Green Communities now moves into a new phase with a firm commitment to make housing green and affordable for all.
In Northern California:
- Enterprise has invested more than $22 million to build nearly 700 Green Communities homes.
- Our partnership with the Mayor's Office of Housing and the San Francisco Redevelopment Agency will invest up to $100 million worth of incentives to build 600 new green homes in San Francisco.
- Enterprise launched the nation's first green tax credit equity fund, to create nearly 500 green affordable homes for low- and moderate-income families in the state of California.
- We are also piloting new green retrofit financing tools for developers to retrofit their multifamily properties with energy- and water-saving features.
We offer a unique breadth of knowledge, expertise and financial products — including tax credit equity, debt and predevelopment lending — that yield both social and economic returns. Our team of experts continues to strengthen and expand the range and reach of these vital tools.
The $40 million Enterprise California Green Equity Fund – the nation’s first green tax credit equity fund – will target projects meeting the Green Communities guidelines.
Learn more about Enterprise’s lending and asset management services in California.
A history of innovation drives our approach. From the Low-Income Housing and New Markets Tax Credit programs to our Green Communities initiative, we help shape, introduce and take to scale the solutions that create, preserve and transform communities nationwide.
Stable housing alone is not enough for most families to increase assets and move families up and out of poverty. An extra hand is often needed to help a child succeed in school, connect with employment training and job support, or avoid an emergency room visit for a senior citizen. Learn more about our resident services involvement.
Enterprise works with numerous partners in Northern California to help stabilize neighborhoods impacted by foreclosure. We develop effective regional and collaborative approaches to addressing foreclosure, and shape public policy that promotes effective solutions to the crisis. These initiatives leverage resources from the National Community Stabilization Trust and Neighborhood Stabilization Program.
Good policy — and successful partnerships — are key to thriving communities. Enterprise is a trusted advisor at the local, state and federal levels, advocating bold policy priorities, and we align strategic partnerships to leverage public, private and nonprofit resources into results.
Enterprise is part of a bold new initiative to rebuild eight seriously distressed San Francisco Housing Authority properties. Our partnership with the city of San Francisco will help create 2,500 affordable, energy-efficient apartments and assist with neighborhood stabilization efforts in the surrounding areas, transforming the lives of low-income residents. Hunters View is the first community developed by HOPE SF. Learn more about Enterprise's involvement in HOPE SF (PDF, 545KB).
Enterprise also facilitates local collaborations, including a Northern California Leadership Council whose members share their time and expertise to help others.
Enterprise has partnered with San Francisco’s Tenderloin Neighborhood Development Corporation (TNDC) on several affordable housing developments, including the West Hotel, a single-room occupancy building purchased by TNDC in 2001. Through this partnership, the dilapidated and neglected West Hotel underwent a complete renovation, reopening in 2004.
“I’ve made this neighborhood my home for the past 14 years because housing is so expensive everywhere else,” West Hotel resident Tommy Funanish says. The efficiency-style apartment provides many amenities and is very comfortable for Tommy. Through TNDC, Tommy has participated in employment and life training programs and is successfully living at the West Hotel.
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| Nihonmachi Terrace: Green, affordable homes for San Francisco seniors and families |
Speaker of the House Nancy Pelosi (D-CA) joined Enterprise in celebrating the preservation of 245 affordable apartments at Nihonmachi Terrace in the Japantown neighborhood of San Francisco. The seven building property is currently undergoing $25 million in renovations that will include energy-efficiency enhancements and
structural improvements.
Enterprise Community Partners
100 Bush Street, Suite 600
San Francisco, CA 94104
Phone 415.395.9405
Fax 415.395.9453
Email Richard
Richard Gross
Vice President and Impact Market Leader
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