Connecting a City
For every dollar a family saves by moving to more affordable housing, they spend 77 cents commuting back to their jobs. As the gap grows gap between where people live and where they work low-income families are forced to buy cars and purchase gasoline that they otherwise wouldn’t need, straining household budgets. At Enterprise we know we can change this! The largest public transit expansion in the country is happening in Denver and Enterprise Community Loan Fund is working to help the city’s low-income residents access expanded opportunities for public transit. Land alongside transit corridors typically becomes more expensive and desirable when new rail lines arrive. The Denver Transit Oriented Development (TOD) Fund has acquired seven sites for affordable development in this new transit corridor and will ensure that Denver’s low-income families benefit from the expansion.
- The average driver in Denver could save $834 a month, or more than $10,000 a year, by switching to public transit
- On average, people live over 90 minutes away from most work opportunities
- Enterprise Community Loan Fund will preserve 1,000 homes near transit
- $15 million TOD Fund is the first of its kind in the country