Increase Housing
Supply
Advance Racial
Equity
Build Resilience &
Upward Mobility

Across the Southeast, Enterprise mobilizes donors, investors and advocates to deliver collaborative solutions that aim to make the region one in which everyone has the chance to improve their lives. Collectively, we offer:

  • A vast network of cross-sector partners.
  • Dedicated advocacy staff
  • A track record of creating or preserving homes for nearly 9,000 families by leveraging $2.7 billion in capital.
  • Expertise in the production and preservation of affordable housing.
  • Resources to build the capacity of affordable housing developers.

Enterprise offers a full spectrum of equity, debt and commercial mortgage products to build and preserve well-designed affordable homes and high-impact community developments. Enterprise has invested $1.9 billion in the Southeast.

Increase Housing Supply

Successes

  • Southeast Preservation Toolkit: Tipping the Scale: Preserving the Affordability of Small-Medium Multifamily Housing in the Southeast and Beyond. Enterprise developed Tipping the Scale, a new small- to medium-scale multifamily preservation toolkit, that will make it easier for owners and developers in Atlanta and Miami to understand the benefits and opportunities in preserving unsubsidized affordable small- to medium-multifamily (SMMF) housing.
  • Southeast Innovation Cohort: Enterprise Advisors convenes the Southeast Housing Innovation Cohort to create an equity focused regional housing action agenda for addressing the unique challenges of cities in the Southeast. Through this effort, Advisors will better understand the unique housing challenges faced by Southeastern cities, identify areas for innovation and targeted support, strengthen partnerships, and document regional actions to issues like gentrification, equitable development and recovery, finding balance through mixed-income projects and communities and homelessness. Eight cities currently participate in the cohort - Atlanta, Richmond, Charlotte, Nashville, Durham, Raleigh, New Orleans, and Birmingham.
  • The Atlanta Transit-Oriented Development Fund: Enterprise Community Loan Fund partnered with Invest Atlanta and the Low Income Investment Fund to create a $15 million transit-oriented development (TOD) fund. The $15 million pilot fund provides below-market, patient capital to support the acquisition and pre-development of workforce housing near MARTA stations, the Atlanta Streetcar, the Atlanta BeltLine and other modes of transit.
  • CDFI Coalition Revolving Loan Fund: We partnered with GA CDFIs to create the GA CDFI Coalition. In 2019, Georgia Department of Community Affairs (DCA) granted CCRF $8 million in Tax Credit Assistance Payment (TCAP) fund. The first round of capital will be offered to support the acquisition, construction and/or rehabilitation of multi-family affordable housing across the state of Georgia. CCRF is currently providing financing for affordable housing developments that have received 4% or 9% Low-Income Housing Tax Credits.

Ongoing Priorities

  • Keep Stock Program: Preserving the stock of naturally occurring and subsidized rental housing in Atlanta and Miami by providing training and technical assistance to developers to help them quickly identify properties needing preservation; access capital; and keep operating costs modest and well-managed
    • Tipping the Scale: Preserving the Affordability of Small-Medium Multifamily Housing in the Southeast and Beyond
    • HouseATL Affordable Housing Database and Website: Working with the Atlanta Regional Commission’s Neighborhood Nexus, GA Tech, and Atlanta public sector partners, we are creating a website and database of subsidized affordable housing in Atlanta, to identify properties at risk of losing affordability.
    • Miami Financial Modeling: Led financial modeling efforts to identify a preservation financing structure to preserve unsubsidized affordable housing in Miami.
    • Metro Atlanta Preservation Collaborative: We lead the Metro Atlanta Preservation Collaborative, made up of public sector partners from Atlanta housing agencies and departments.
    • Property Tax Abatement Impact Analysis: We analyzed the impact of property tax abatement on the ability of multifamily properties in different submarkets of the City of Atlanta to provide additional affordable units. This analysis is being used to inform policy efforts at the City and regional level.
    • Contact Sara Haas, Southeast Director for more information.
  • HouseATL Funders’ Collective: A collaborative of Public, Philanthropic, and Private (Banks, CDFIs, Social Impact) Funders who raise new capital, and efficiently coordinate existing resources, to support the production and preservation of affordable housing in the City of Atlanta. An initiative of HouseATL, the Funders’ Collective is managed by Enterprise Community Partners.
    Atlanta Apartment Building
  • Faith Based Development Initiative: Works with houses of worship that own (or plan to acquire) undeveloped or underdeveloped land and helps them make informed decisions regarding development.
  • State and Local Policy
    • Expanding resources for the development of quality, affordable homes, and policies that make it easier to site and build those homes
    • Increasing resources and expanding policies that preserve existing unsubsidized and subsidized affordable homes, including permanent supportive housing
    • Expanding protections for low- and moderate-income renters
    • Promoting racial and socio-economic equity for renters
    • Contact Kandice Allen-Mitchell, Director of State and Local Policy for more information.
  • Capital: We partner with sponsors and investors to make home and community places of pride, power and belonging, and platforms for resilience and upward mobility for all.

    Enterprise offers a full spectrum of equity, debt and commercial mortgage products to build and preserve well-designed affordable homes and high-impact community developments. We have invested $1.9 billion in the Southeast.

Advance Racial Equity

Forest Ridge Family

Enterprise sees diversity, inclusion and equity as both a practice (how we engage in our work) and an outcome (a state in which neither race, ethnicity, gender, sexual orientation nor disability should predict one's successes). Because it is how we strive to engage in our work, advancing racial equity will overlay all of our programmatic and policy work. Below is some of our work that is specific to ending racism.

Successes

  • Covid-19 Emergency Response: Our Emergency Action for Resident and Partner Stability program moved swiftly to ensure that vulnerable, low-income families and individuals can remain in their homes and access support during this crisis. The new program has already offered 5 nonprofit community partners emergency grants totaling $442,500, along with guidance and support.
  • House Bill 426: With partners, we successfully advocated for the passage of House Bill 426, which changed the state code to include hate crimes. Georgia had been one of four states without a hate crime law.

Ongoing Priorities

  • SPARCC: The Strong, Prosperous and Resilient Communities Challenge is a multiyear initiative investing in and amplifying local efforts in six regions (Atlanta, Chicago, Denver, Los Angeles, Memphis, and the San Francisco Bay Area) to ensure that public investments in the built environment reduce racial disparities, build a culture of health, and respond to the climate crisis. SPARCC takes a strong stand in a growing effort toward building communities by investing in people and reforming the systems that stand as barriers to racial and social equity.
    • SPARCC Atlanta: The TransFormation Alliance is a broad partnership of organizations from the private, public, and nonprofit sectors dedicated to creating thriving, mixed-income communities anchored by transit and linked to all the opportunities and amenities that make Atlanta great.
    • SPARCC Memphis: The North Memphis VOICE Coalition is a community–based coalition of residents and organizations (CDCs, neighborhood–based organizations, government, non–profit, and private sector) designed to cultivate and support meaningful community participation to strengthen the community spaces where people in North Memphis live, work, and play.
  • Policy
    • Advocating for legislation to amend the law to include source-of-income as a protected class
    • Amend Georgia’s state Fair Housing Act to help restore certification by HUD as a Fair Housing Act Program.

Build Resilience & Upward Mobility

Successes

Miami Apartment Building
  • Keep Safe Miami: In partnership with the City of Miami, launched a two-year pilot of the Keep Safe Miami. Keep Safe Miami is a new program developed by Enterprise Community Partners and the City of Miami which will equip affordable housing owners and operators with tools to assess their building’s resilience to climate change and natural disasters, and provide them with actionable strategies and guidance on financing to address these vulnerabilities.
  • Green Communities: Launched the 2020 Enterprise Green Communities Criteria, which sets the standard for green affordable housing construction nationwide. The Criteria, first launched in 2005 in consultation with leading environmental, public health and green building experts, were the first national green building guidelines specifically for affordable housing. Today, 27 states and Washington D.C. require that affordable housing developments receiving public funds comply with the Criteria. This year alone, the Criteria will be used to create or preserve more than 200 environmentally friendly multifamily affordable housing developments.
Five Points
KCDC Five Points, Phase 3 of Knoxville, Tennessee achieved 2015 Enterprise Green Communities Certification with 102 optional points. The Knoxville Community Development Corporation and Barber McMurry Architects went above and beyond to deliver best-in-class family housing. This project prioritizes resident health, lifts up resident and property resilience, and reduces fossil fuels while increasing the health of indoor spaces.

Ongoing Priorities

  • Advocating for inclusion of effective anti-displacement strategies in key state programs and policies
    • Health Begins With Home Collective: Enterprise Community Partners is working with a collective of multi-sector stakeholders, including 8 community development sector partners representing over 3,000-units of affordable housing in Atlanta. Our long-term goal in working together is to improve housing stability among low-income Atlantans by creating sustainable methods for healthcare and housing sector partners to work together to mitigate and prevent housing instability. This collective will use housing stability to illustrate how an inclusive approach to health can move our healthcare system towards more equitable outcomes. Learn more about Enterprise’s Health Begins with Home initiative.
    • Economic Mobility: Enterprise is committed to eliminating disparities in economic outcomes through a systems- and people-focused partnership model centered on housing security. In the Southeast, Enterprise led Economic Mobility work in Atlanta, and continues to lead work in Memphis in partnership with StriveTogether. Since 2018, our Economic Mobility Initiative has been establishing networks that integrate affordable housing, services and supports, education and access to family sustaining employment opportunities while working to change the systems that have withheld opportunity, undermined self-efficacy, or promoted exclusion, particularly in low-income communities and communities of color. Current national partners include the Urban Institute, Stewards of Affordable Housing for the Future, EMPath, and StriveTogether.
enterprise economic mobility initiative regions

Supporting Policy Solutions that foster economic mobility

 

Opp360 logo

For full access to our tools and resources, please provide the information below.

We use this data to better understand our users; we do not sell or share this data. By providing this information, you can expect to receive newsletters and other updates from Opportunity360.