Enterprise’s Housing Credit Commitment
For more than 30 years, investing in affordable housing through the Low-Income Housing Tax Credit (Housing Credit) has been central to Enterprise’s mission.
Our founders, Jim and Patty Rouse, started the Enterprise Social Investment Corporation (ESIC) in 1984 to find new ways of financing affordable housing. Enterprise advocated for the creation of the Housing Credit in 1986 and has been a leader in syndicating Housing Credits ever since. Our investor partners have entrusted us with nearly $14 billion in Housing Credit capital, and we’ve worked with non-profit and for-profit partners to create and preserve 154,000 affordable homes in more than 2,300 developments nationwide.
Under the leadership of Enterprise Community Investment President and CEO Charlie Werhane, our Housing Credit business has continued to be top-tier. We raise and deploy more than $800 million annually into new affordable housing developments, as well as provide asset management services for more than 1,400 properties.
Our 150-person Housing Credit team understands the Credit’s power to create opportunity for low- and moderate-income people, and we fulfill this mission by providing best-in-class service to our investor and developer partners. We also continue our strong advocacy to protect, improve and expand the Housing Credit and other resources to end housing insecurity.
Enterprise’s unwavering commitment to the Housing Credit has led us to establish Enterprise Housing Credit Investments, LLC. Over the years, we have created and grown other businesses, including Bellwether Enterprise, Enterprise Community Loan Fund, Conventional Equity, Enterprise Homes and CPDC. Amid such growth and diversification, we wanted to underscore the continued prominence of our Housing Credit work by creating a distinct entity, similar to our other businesses, with its own president and CEO.
More clearly defining our Housing Credit business will help us to maintain, and continue to enhance, our ability to meet the needs of our investor and developer partners.
Enterprise Housing Credit Investments builds on our dedication to the values that have driven more than 30 years of accomplishment: integrity, innovation, stewardship, business discipline and commitment to mission. Working with our partners, we will strive toward the day when every individual and family has access to an affordable home in a community connected to opportunity.