America is facing a massive shortage of affordable rental homes, and the Covid-19 pandemic has left one in four renters struggling to pay their rent. Preserving affordable homes and protecting their residents and landlords is a priority housing-stability strategy for Enterprise.

Evictions are more prevalent than ever in the wake of the pandemic, and BIPOC and women renters are disproportionately targeted by evictions and removed from their homes.

Enterprise is taking a coordinated and comprehensive approach to protect renters from eviction and displacement and ensure that all landlords can continue providing America’s renters with stable, affordable homes.

Over the next five years, we will deliver the tools and resources to:

  • Support residents and landlords with rent relief and protections to prevent evictions
  • Drive greater equitable investment in existing affordable homes and communities
  • Prioritize the needs of Black, Indigenous and people of color (BIPOC) residents, landlords and developers

Over the next 10 years, this initiative will keep 10 million Americans in their homes.

See how our local preservation and eviction prevention initiatives make an impact:

Local Rental Owners Collaborative, Los Angeles

The Local Rental Owners Collaborative supports local rental owners with navigating the pandemic and the instabilities it caused in California, while building a strong network of support services.

See more about the collaborative.

Bay Area Preservation Pilot, San Francisco

The Metropolitan Transportation Commission (MTC) committed $10 million to this pilot, which preserves affordable multifamily properties near transportation hubs. 

Learn more about the pilot.

Project Parachute, New York City

Project Parachute is our partnership with nonprofits and property owners to keep New York renters affected by the Covid-19 pandemic safely in their homes. 

Find out more about Project Parachute.

Affordable Housing Preservation Fund, Colorado

The Colorado Affordable Housing Preservation program provides permanent financing for critical, fast-acting acquisition of existing subsidized or unsubsidized  multifamily rental properties.
Find out more about CAHP.

Preservation Next Toolkit for Small to Medium Multifamily Properties

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Preservation Next Toolkit

 

This toolkit provides best practice recommendations and tips that will help you avoid common challenges when working on an unsubsidized affordable SMMF preservation project.  View the Toolkit here.

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Jacqueline Waggoner
Affordable housing assets are at risk of being redeveloped into luxury housing or experiencing massive rent hikes and gentrification. We can’t afford to lose any of those homes.
Jacqueline Waggoner, President, Solutions Division, quoted in Affordable Housing Finance Magazine

 

Preservation Next

Preservation Next will advance the preservation of unsubsidized affordable homes and promote housing stability by offering developers and housing providers with tools and training, technical assistance and grants, and capital resources to acquire, rehabilitate, and preserve the affordability of small- to medium-multifamily properties.  Learn more about Preservation Next.
 

Our Approach

Preservation Next will catalyze and support local preservation and housing stability efforts across the country through a three-pronged approach. 

Preservation Resources and Tools

The National Preservation Toolkit is an online resource to equip affordable housing developers, partners, and housing providers with best practices and guidance to acquire, rehabilitate, and preserve the long-term affordability of homes located in small- to medium-multifamily properties.  

Preservation Academy Training and Technical Assistance

Preservation Next will hold regional Preservation Academies comprised of virtual training sessions to build developer capacity and jumpstart or accelerate preservation activities in regions across the country.

Capital Resources for Small to Medium Multifamily Acquisition and Rehabilitation

In partnership with Enterprise Community Loan Fund, Preservation Next will launch a pilot small to medium multifamily loan product targeted towards the financing needs of this critical stock. 

California Preservation Academy  

November 2022 – June 2023 

Join us 

The California Preservation Academy is a series of no-cost, virtual training and peer-learning sessions designed to help developers, affordable housing providers and operators, and public sector practitioners preserve unsubsidized homes found across California’s small to medium multifamily properties. Register for the one of the California Preservation Academy virtual training and peer-learning sessions here.

Get the latest information on Preservation Next
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