Founded 1982 | ||
Key people James Rouse, Terri Ludwig (President & CEO, Enterprise Community Partners), Charles Werhane (President & CEO, Enterprise Community Investment), Ronald J. Terwilliger (Chairman, Enterprise Community Partners Board of Trustees; Vice Chairman, Enterprise Community Investment Board of Directors) Subsidiaries Enterprise Community Investment (for-profit), Enterprise Homes (non-profit), Enterprise Community Asset Management (for-profit), Bellwether Enterprise (for-profit), Enterprise Community Loan Fund (non-profit) Similar Local Initiatives Support, National Center for Healthy H, National Community Stabilizati, Nonprofit Finance Fund, The Kresge Foundation | ||
Enterprise Community Partners, formerly The Enterprise Foundation, is a Columbia, Maryland-based nonprofit organization with offices nationwide. Founded in 1982 by developer/philanthropist James W. Rouse and his wife Patty, Enterprise has worked with community-based nonprofit organizations to develop nearly 358,000 affordable homes and invest nearly $23.4 billion throughout the United States. At its outset the program was embraced by both Democratic and Republican administrations as a method to defund expensive subsidized housing. It was also supported by land development interests to prevent competition in the home building industry. Initial funding came from Rouse's ACTION partners Richard King Mellon, David Rockefeller, Andrew Heiskell, Ford Foundation, and other Rouse affiliates including Kittamaqundi Community leader Gordon Cosby, Robert McNamara, Senator Mac Mathias. Although in private control, Enterprise relies heavily on federal incentives, loan guarantees and financing from agencies such as the FHA.
Contents
- Bringing opportunity home southern california enterprise community partners
- Mission
- History
- Enterprise Model
- Campaigns Coalitions
- Enterprise Green Communities
- Projects
- References
Bringing opportunity home southern california enterprise community partners
Mission
Enterprise's mission is to create opportunity for low- and moderate income people through affordable housing in diverse, thriving communities.
History
In 1972, three members of the Church of the Saviour, Terry Flood, Barbara Moore and Carolyn Banker wanted to create low-income housing in the Adams Morgan neighborhood of D.C. With no development, financial or construction experience, they put down a non-refundable deposit to purchase the Ritz and Mozart apartment buildings. Their commitment won over James Rouse, CEO of The Rouse Company and he helped them secure $625,000 to complete the transaction and $125,000 toward the cost of rehabilitation.
In 1981 the experience inspired Jim Rouse to found Robin Hood Inc. based in the Rouse owned American City building in Columbia, Maryland. The company was renamed to Jubilee Housing to help with fundraising efforts. Jubilee Housing provided the launchpad for Jim and Patty Rouse to start the Enterprise Foundation in 1982. In 2005, it was renamed Enterprise Community Partners. Today, Enterprise continues to work to uphold the standards set by Jim and Patty to see that all people have the opportunity for affordable housing. In 1984, Jim Rouse was soliciting business representing both Rouse Company as CEO and Enterprise Development as president. The Rouse Company board of directors asked Jim Rouse to leave as CEO of the Rouse Company and his position in Enterprise Development which ended his involvement with the company he founded.
Enterprise Model
The Enterprise foundation was to be the central clearing house for a profitable privately operated social welfare system.
The model included.
Campaigns & Coalitions
Enterprise Green Communities
On October 8, 2009, Enterprise Community Partners announced a $4 billion commitment to the next generation of its Green Communities initiative. Enterprise said its efforts will result directly in the creation, preservation, or retrofit of 75,000 green homes and community and commercial buildings over the next five years. The group will provide loans to owners of existing multi-family buildings in key markets for capital purchases that will reduce energy and water consumption or will lead to more healthy living environments. Enterprise relies on support from a number of banks and foundations, and it is currently drawing on $2.5 million in grants for fundraising. Enterprise also issued a national call to action to make all affordable housing in the United States meet green criteria by 2020. To provide background, the organization released a study proving the overall return on investment of meeting its Green Communities Criteria. Based on years of research, the report, "Incremental Cost, Measurable Savings: Enterprise," finds that the estimated lifetime savings exceed the initial investment made to incorporate the Green Communities Criteria into affordable housing during construction.