Enterprise Community Partners (Enterprise) announced today the closing of two new Low-Income Housing Tax Credit (LIHTC) multi-investor funds: Enterprise Housing Partners Fund XLV (EHP 45) and Enterprise Housing Partners Fund XLVI (EHP 46). Together, they secure a combined $407 million in capital commitments to create or preserve 2,497 homes in 11 states and the U.S. Virgin Islands, generating more than 3,800 new jobs and $585 million in wages, tax revenue, and business income—including $249 million in direct wages to American workers.
“For nearly four decades, the Low-Income Housing Tax Credit has been the cornerstone of affordable housing development. These new funds reaffirm its vital role in addressing our nation’s housing crisis—and demonstrate our partners’ deep commitment to ensuring families, seniors, and people with special needs have access to good homes they can afford,” said Kari Downes, president of Enterprise’s housing credit investment business. “By investing in affordable housing, we’re simultaneously creating new jobs, stimulating local economies, and promoting long-term stability in communities across the country.”
Affordable TOD in Salt Lake City, One of the Country’s Strongest Economies
EHP 45 raised $180.8 million and will support the creation and preservation of 10 properties across Florida, Georgia, Louisiana, Maryland, New Jersey, Utah, and Washington.
That includes the new construction of Promontory Place Apartments in Salt Lake City, just west of downtown and on a TRAX light rail line. The seven-story, transit-oriented development will offer 175 one-, two-, and three-bedroom units serving households at or below 60% of the area median income, expanding opportunity in one of the nation’s strongest economies. Amenities include a swimming pool, hot tub, remote work rooms, a 24-hour fitness center, and 197 free parking spaces. The building also offers commercial space on the first floor, which is currently earmarked for a restaurant. Alta Bay Capital is the sponsor.
Dayton, Ohio, Welcomes Much-Needed Senior Housing
EHP 46, a $226.2 million fund, will support 12 properties across California, Florida, Louisiana, Ohio, Oregon, Texas, Virginia, and the U.S. Virgin Islands.
One property, Stratford Place in Dayton, Ohio, will involve the preservation and renovation of 100 existing studio and one-bedroom homes across eight buildings, all designated for seniors earning between 30% and 60% of the area median income—a critical resource in Dayton, where 20.5% of the population is aged 65 and up. The renovation will focus on enhancing resident quality of life, including accessibility and energy-efficiency improvements. Farfield Homes, Inc., is the sponsor.
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About Enterprise Housing Credit Investments
Enterprise’s housing credit investments business operates under Enterprise Housing Credit Investments, an affiliate of Enterprise Community Partners, 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 $72 billion and created 1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands—all to make home and community places of pride, power and belonging. Join us at enterprisecommunity.org.