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Enterprise and Providence Community Housing celebrated the first phase of redevelopment for the Lafitte community in New Orleans. HUD Secretary Shaun Donovan, Lafitte residents, and local and national officials broke ground in August 2009 for a new affordable community. Enterprise and Providence have pledged one-to-one replacement of all subsidized apartments for all 865 former Lafitte residents. |
Five extraordinary years have passed since Hurricane Katrina wrought devastation upon homes and communities across the Gulf Coast. As the anniversary commemorations conclude, we reflect on all Enterprise and its partners have accomplished to date -- and on all we remain determined to achieve.
Since the hurricanes of 2005 devastated the Gulf Coast area, Enterprise and our local partners have made marked progress in New Orleans, parts of Mississippi and other Gulf Coast communities. Enterprise is on the ground in the Gulf Opportunity Zone (“GO Zone”) with full-time staff dedicated to the redevelopment of affordable housing, community facilities and resident services.
In our first five years, Enterprise has supported the production of more than 5,600 affordable homes in the region, nearly 2,500 of which are complete.
Enterprise was on the ground immediately after the unprecedented 2005 disaster. We brought a comprehensive response and long-term focus. Working with local and national partners, Enterprise pledged to invest $200 million in loans, grants and tax-credit equity toward the development of 10,000 affordable, healthy and sustainable homes in the “GO Zone.”. Enterprise is committed to the people of the Gulf Coast, and we will remain in the region until all residents have the opportunity to return.
Gulf Coast profile (PDF, 138K)
Learn more about how the Chase Community Development Competition awards give a team of students an opportunity to partner with a New Orleans nonprofit organization to develop a real estate project that is feasible, sustainable, and helps to build and strengthen the local community.
Enterprise offers a unique mix of financial products — including tax credit equity, debt and predevelopment lending — that yield both social and economic returns. Our team of experts continues to strengthen and expand the range and reach of these vital tools. Today, Enterprise has invested nearly $135 million on the Gulf Coast, more than any other housing organization.
This fund provides financing to developers who replace housing that was lost or severely damaged due to Hurricanes Katrina and Rita.
The Gulf Opportunity Zone Act of 2005 provided the five states directly struck by the hurricanes with Community Development Block Grants and increased allocations of Low-Income Housing Tax Credits (LIHTCs). Enterprise and our partners have secured these tax credits to develop and rehab more than 1,600 affordable homes.
A history of innovation drives our approach to help shape, introduce and take to scale the solutions that create, preserve and transform communities nationwide.
Enterprise, with partners Providence Community Housing and L+M Development Partners, is rebuilding public housing in the Gulf Coast to foster healthy and diverse communities. HUD selected Enterprise and Providence Community Housing as partners in the redevelopment of the former Lafitte complex in New Orleans’ historic Tremé neighborhood. Resident input and involvement have helped shape the design and development of what promises to be a thriving, mixed-income community. The plan ensures one-to-one replacement of all subsidized homes at the former Lafitte development. In addition, residents will gain access to case-management and a wide array of services, such as job placement, after-school programs and medical care.
- Enterprise has provided the resources needed to help build more than 350 green homes in the Gulf Coast region.
- The Louisiana Housing Finance Agency chose the Enterprise Green Communities Criteria as the required green building standard for developers seeking tax credits and tax-exempt bonds through the state.
- The Enterprise Green Communities Criteria was adopted by the city of New Orleans as the standard for homes rehabbed and rebuilt under the federal Neighborhood Stabilization Program.
- Enterprise Rose Architectural Fellow Seth Welty, worked with Habitat for Humanity Bay-Waveland on incorporating 28 Enterprise Green Communities homes at their Union Street Project in Bay St. Louis, Miss.
In Ocean Springs, Miss., residents displaced by Hurricane Katrina are moving into new energy-efficient homes. This development called Cottage Square is the first Katrina cottage neighborhood in the state. These energy-efficient cottages are some of the 3,000 that were built by the state of Mississippi as alternatives to the FEMA travel trailer. Enterprise is working in partnership with the Katrina Cottage Group, LLC to demonstrate how these cottages can provide high-quality, permanent affordable housing when used in an appropriate setting.
Good policy — and successful partnerships — are essential to thriving communities. Enterprise is a trusted advisor at local, state and federal levels, advocating for bold policy priorities. We align strategic partnerships to leverage public, private and nonprofit resources into results
Enterprise is an advisory member of the Greater New Orleans Housing Alliance (GNOHA). The collaborative includes nonprofit housing builders and community development corporations working to rebuild the infrastructure in New Orleans, specifically its housing stock.
Enterprise is an active participant in the Louisiana Association of Affordable Housing Providers (LAAHP). The nonprofit organization works for laws, legislation and programs that contribute to the development of a viable affordable housing inventory in Louisiana. LAAHP promotes the common interests of its affordable housing industry members through communications and conferences.
Enterprise Community Partners
1050 S. Jefferson Davis Parkway,
Suite 339
New Orleans, LA 70125
Phone 504.335.2303
Fax 504.821.7213
Email Michelle
Michelle Whetten
Vice President and Impact Market Leader
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