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A safe and affordable home in a diverse, thriving community is the foundation for building a successful life. But many hardworking New Yorkers are homeless, or are spending such a large percentage of their income on housing – often unsafe, unstable housing – that they cannot afford groceries, health care, child care or transportation.
And that’s only part of the problem. It takes a complex web of financial, community, business and governmental partnerships to create just one affordable home.
Enterprise tackles all the obstacles that stand in the way of creating safe, healthy and affordable homes. We are New York’s leader in making affordable housing happen
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Vice president & New York director of Enterprise Community Partners Abby Jo Sigal discusses how the design world and community groups are joining forces on community projects on the Brian Lehrer show: designNYC. (15:52)
- $2 billion+ invested
- 30,000+ affordable homes created or preserved for 100,000 people
- 354,000+ s.f. of commercial and community space built
Green is the new affordable. Thanks to Enterprise’s Green Communities initiative, the industry is rethinking the way affordable housing is designed and built. Our five-year initiative invested $700 million to build nearly 16,000 green affordable homes, and demonstrated that green affordable housing is attainable. That it produces measurable long-term cost savings. And it brings health, economic and environmental benefits that will sustain communities into the next generation and beyond. Enterprise Green Communities now moves into a new phase with a firm commitment to make housing green and affordable for all.
In New York:
- Enterprise has invested more than $107 million to build nearly 2,000 homes.
- Enterprise has encouraged New York’s city and state housing agencies to incorporate the Green Communities standards into the allocation process for Low Income Housing Tax Credits, and continues working with these and other partners to further green New York’s housing policies.
- Enterprise is focused on improving the energy and environmental performance of New York’s existing affordable housing, to keep it affordable, financially stable, and high-quality long into the future.
- Our support and partnerships have invested $250 million overall to create or preserve 4,000 green affordable homes – 25 percent of our overall investment in New York since 2004.
- We are also piloting new green retrofit financing tools for developers to retrofit their multifamily properties with energy- and water-saving features.
The New York announcement of the next generation of Enterprise Green Communities took place at the opening of Palladia, Inc.’s Fox Point in the Bronx, a green affordable housing complex for low-income and formerly homeless individuals and families. The event builds on the momentum of Enterprise’s national launch, held in Washington D.C., where Enterprise announced a commitment of $4 billion to continue to transform affordable housing across the country over the next five years. News Release (PDF, 49K, October 22, 2009)
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| The newly completed Marcello Manor Common. |
Eco friendly and with high end design, Marcella Manor opens for low-income domestic violence survivors in the Bronx. Enterprise brought together celebrated New York-based interior designer Sara Bengur, West Elm and J. Mendoza Gardens, Inc. to design and furnish the common room and adjoining area. The eco-friendly and service-enriched building is home to 38 families. Half of the families are low-income domestic violence survivors and their children coming out of the shelter system. Read More about Marcella Manor
We offer a unique breadth of knowledge, expertise and 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.
From 2004 through 2008, Enterprise created or preserved 16,000 affordable homes for nearly 50,000 New Yorkers, exceeding our goals and representing 20% of Mayor Bloomberg’s New Housing Marketplace Plan. Download our press release and brochure. Read the article in City Limits
New York City is one of several Enterprise markets nationwide piloting innovative financing tools to help affordable housing owners make capital improvements to reduce energy and water use.
A history of innovation drives our approach. From the Low-Income Housing and New Markets Tax Credit programs to our Green Communities initiative, we help shape, introduce and take to scale the solutions that create, preserve and transform communities nationwide.
Enterprise proudly launched the New York City Acquisition Fund, which provides critical acquisition and predevelopment financing for the creation and preservation of affordable housing in the five boroughs of New York City. The Fund’s innovative model has been replicated in Los Angeles and the Gulf Coast, and in September 2008, the Fund was named a winner of the Harvard Kennedy School’s Innovations in American Government Award.
Good policy — and successful partnerships — are key to thriving communities. Enterprise is a trusted advisor at the local, state and federal levels, advocating bold policy priorities, and we align strategic partnerships to leverage public, private and nonprofit resources into results
Using federal Neighborhood Stabilization Program funds, the NYC Department of Housing Preservation and Development (HPD) and its nonprofit partner Restored Homes is working with Enterprise on a pilot program to rehabilitate real-estate owned (REO) properties to meet Enterprise’s Green Communities standards. U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced the partnership at HPD’s recent Green and Affordable conference. Download the press release.
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Maireni Tavarez, Miguel Hernandez and their two daughters have a home they love in their South Bronx neighborhood, thanks to longtime Enterprise New York partner VIP Community Services. Photo:Girl Ray |
The Gotham Society engages young professionals in the mission and work of Enterprise.
The Gala raises funds to provide decent, affordable homes for all New Yorkers.
Enterprise New York offers a variety of internship opportunities to provide students with hands-on exposure to the community development field. For more information about internships in New York City, contact Victoria Shire. For employment opportunities, please visit the Careers page.
We use our array of financial and intellectual resources and deep development expertise to customize solutions for partners. From inspiration to completion and then preservation, Enterprise is an efficient and comprehensive “one-stop shop” for creative development and community building.
Learn more about Enterprise's training opportunities and events across the country. Sign up to receive information on upcoming training in New York.
Enterprise Community Partners
1 Whitehall Street, 11th Floor
New York, NY 10004
Phone 212.262.9575
Fax 212.262.9635
Email Abby
Abby Jo Sigal
Vice President and Impact Market Leader
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