Our Priorities in Denver
Support our continued efforts in Denver.
Enterprise is expanding the production and preservation of affordable housing in the region by investing capital, innovating solutions and advocating policy.
Our specific priorities are to:
- Collaborate with U.S. Department of Housing and Urban Development, Colorado Division of Housing, Colorado Housing and Finance Authority and local housing departments and housing authorities to create affordable homes in thriving Denver-area communities.
- Strengthen capacity of local affordable housing developers and community development corporations through Section 4 grant support and technical assistance.
- Invest Denver Regional TOD Fund capital toward the acquisition of transit-accessible property for preservation and future development of affordable housing and community facilities.
- Partner with other nonprofits, businesses and public agencies in Mile High Connects to bring better opportunities to residents through transit.
- Bring support and programs to underserved populations and communities through:
- Equitable transit-oriented development along high-frequency transit corridors
- Innovative neighborhood revitalization strategies in Sun Valley in collaboration with the Denver Housing Authority
- Permanent supportive housing and assertive community treatment services for chronically homeless individuals in Denver
- State and local resources for the production or preservation of affordable housing across the Metro Denver region
Since 1986, Enterprise has been investing in affordable housing and community development corporations in the Denver region, including Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties.
- Brought nearly $363 million in grants, loans and equity to finance the creation or preservation of 8,430 homes.
- Awarded $3.9 million in capacity-building grants to 35 nonprofit organizations.
Denver Social Impact Bond Initiative
Enterprise, CSH and Social Impact Solutions have partnered with the City and County of Denver, Colorado Coalition for the Homeless, Mental Health Center of Denver and Urban Institute, to deliver the Denver Social Impact Bond Initiative.
This initiative aims to measurably improve the lives of people most in need by driving resources towards better, more effective programs. Social Impact Bonds are a unique type of performance-based contracts where private and/or philanthropic lenders loan funds to accomplish a specific objective and are repaid based on whether the program achieves its goals. Denver’s Social Impact Bond program uses funds from lenders to provide housing and intensive supportive services to 250 homeless individuals who frequently use the city’s emergency services, including police, jail, the courts and emergency rooms.
By shifting the focus to preventive services, we can better serve this population while saving taxpayers millions of dollars a year. The cost of providing safety-net services to 250 of Denver’s homeless population is approximately $7 million per year. Stable housing and supportive services can prevent expensive encounters with the criminal justice and safety-net systems and help individuals lead more stable and productive lives. The savings and benefits from reduced costs in the criminal justice system will be captured by the City and used to repay lenders for their upfront investment to cover the cost of the program. Additional project information can be found in this factsheet.
The program officially launched on February 16, 2016 and as of January of 2018 the project has reached full enrollment of 250 participants. Early findings are very promising – participants are getting housed and staying housed! Future reports will be released late 2018, 2019, 2020 and the final report in the summer of 2021.
State and Local Policy
Our local policy team works at the Federal, State and Local levels to increase housing resources, effectively leverage existing resources and ensure long-term access to affordable housing. We do this by working with coalition partners, policymakers and providing recommendations based on community best practices.
We envision a Colorado where all residents have access to quality housing options that are affordable, safe, healthy, attainable and stable. We believe all Coloradans deserve the chance to thrive and live in the community of their choice by removing obstacles to economic advancement and encouraging broad public/private investment in communities.
We advocate for common-sense policies, both federally and locally, in pursuit of the following:
- Protect Low-Income Renters: Establish tenant rights and transparency. Establish consumer protections for all renters from unnecessary evictions, income discrimination and other forms of forced displacement.
- Expand Local Resources: Maximize funding for key housing programs. Establish state and local housing trust funds with dedicated revenue sources
- Support Inclusive Development: Engage private developers through inclusionary zoning. Establish land use and other regulations that promote cost-effective development of multifamily housing.
- Promote Racial Equity and Economic Opportunity: Connect low-income families to jobs, good schools, transit and other essential resources. Work with policymakers to develop comprehensive plans to address residential segregation and housing discrimination.
Renter Protection Platform
Enterprise, together with like-minded partners, successfully launched a Renter Protection Platform, a specific set of policies at the state and local levels that recommends meaningful change for Colorado tenants. The proposals are organized around each step of the rental process – from application, to lease-up and occupancy, to eviction proceedings.
We are not alone in wanting change. Coloradans across the state support our mission. A recent statewide poll commissioned by Enterprise indicated overwhelming support for new policies designed to provide basic, common-sense protections for renters that will level the playing field in a state facing significant housing affordability challenges.