RIVERDALE, Md. (March 29, 2023) – Joined by members of the faith community and Prince George’s County leaders, Enterprise Community Partners (Enterprise) today announced the expansion of its Faith-Based Development Initiative into Prince George’s County, where it will partner with faith-based organizations to convert their unused land into affordable homes.
The program, which is supported by $525,000 in funding from Bank of America, Prince George’s County and the Greater Washington Community Foundation, will help up to seven houses of worship as they develop new housing on their vacant property. The program was launched with a “clarion call” at Refreshing Springs Church of God in Christ, a local church in Riverdale, Maryland.
Faith-based organizations across the country own tens of thousands of acres of vacant or underutilized land. As costs for land and housing remain high, Enterprise’s initiative enables them to serve their communities in new ways by creating affordable housing. The initiative will provide specialized training, technical assistance and funding over two years to participating houses of worship as they plan new developments on their land.
“Faith leaders and housing organizations share a mission to strengthen communities. For nearly two decades, we’ve worked together to ease our ongoing affordability crisis, one home at a time,” said Rev. Joseph K. Williams, Sr., senior program director and manager of the FBDI program in Enterprise’s Mid-Atlantic market. “We’re thrilled to bring the program to Prince George’s County and excited to work with clergy and lay leaders looking to make a meaningful difference in their communities.”
“We are excited that the Faith-Based Development Initiative is coming to Prince George’s County,” said Prince George’s County Executive Angela Alsobrooks. “Since the start of this administration, we have remained committed to preserving, protecting, and expanding quality, safe homes that residents of all incomes can afford. This new initiative will allow our faith-based community to help us further our efforts to expand affordable housing for our residents. We want to thank Enterprise Community Partners, Bank of America, the Greater Washington Community Foundation, and our faith leaders for this exciting new partnership and look forward to how it will support Prince Georgians.”
Since its inception in 2006, the Faith-Based Development Initiative has helped create or preserve more than 1,500 affordable homes and one community-based health clinic in the Mid-Atlantic region, with thousands of homes now in the development pipeline. In 2022, Enterprise expanded its Faith-Based Development Initiative to Atlanta, South Florida, New York, Baltimore and Seattle.
“Enterprise has a great track record of helping ensure secure, affordable housing for those who need it most,” said Larry Di Rita, Bank of America President of Greater Washington, DC. “Bank of America’s partnership with Prince George’s County, The Greater Washington Community Foundation, and Enterprise will help so many of our neighbors build long-term financial success with a great place to live at the heart of that.”
“The Greater Washington Community Foundation is proud to partner with Enterprise to increase affordable housing solutions by investing in the capacity of faith institutions to develop properties on otherwise idle assets,” said Tonia Wellons, President and CEO. “This project perfectly aligns with our new strategic vision to increase economic mobility and close our region’s racial wealth gap. In doing so, we are taking a deliberate approach to engaging the faith community around community development efforts that will ensure Prince George’s County is a place where everyone prospers.”
Faith-based organizations participating in the program will gain access to:
- Funding: Support for market/feasibility studies and pre-development activities
- Training: Virtual and in-person trainings to help participants understand the ins and outs of the development process
- Technical assistance and tools: One-on-one technical assistance to help overcome obstacles during the development process, as well as access to informational tools and resources
- Access to experts: Introductions to information on development partners, such as architects and designers, real estate lawyers and development consultants
- Peer-to-peer learning: Geographic cohorts of faith-based organizations will network and learn from one another as they go through the process of housing development, and a national summit will bring faith leaders from across the country together to advance program learnings and celebrate successes
About Enterprise Community Partners
Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $64 billion and created 951,000 homes across all 50 states – all to make home and community places of pride, power and belonging. Join us at enterprisecommunity.org | Twitter: @EnterpriseNow
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 16,000 ATM and award-winning digital banking with approximately 56 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.