Galen Terrace, once considered one of the most troubled properties in Washington, D.C., is now resident-owned and environmentally smart. Enterprise structured the financing to help the residents buy the building and save their homes. Read more.

Economic growth in the Washington, D.C., area is a double-edged sword for low- and moderate-income residents. The strong regional economy creates and sustains jobs, but demand for housing also drives costs up. Over the last ten years, rents and home prices have risen much faster than incomes in Washington, and affordable housing has been replaced with more lucrative market-rate communities. The result is serious hardship for working families.

Enterprise works to preserve affordable housing in Washington, D.C., through grants, technical assistance and a range of financial products for development.

New and Noteworthy

• Webster Gardens will be renovated into affordable housing. Coverage in the Washington Post and the Washington City Paper.
• Federal funds to jump-start stalled D.C. housing project - Webster Gardens, the District's oldest garden-style apartment complex, will be renovated into affordable housing, using federal money to help local and state agencies fund projects stalled during the recession. Read the Washington Post | May 11, 2010
  
• Read the latest issue of the D.C. Metro Report.
• More Washington, D.C. news coverage
  

Enterprise's Impact in Washington, D.C.

• $400 million+ invested
• 14,000+ homes
• 100,000+ s.f. of commercial and community space built

Washington, D.C. profile (PDF, 137K)

Success Stories
Wheeler Terrace, Galen Terrace and Meridain Manor are select examples of our success in Washington, D.C.

D.C. Area Preservation Fund
When affordable housing is sold and converted to market-rate, hard working people are pushed out of their homes. Enterprise created the D.C. Preservation Fund with $20 million in bank capital and $8 million in public funds. To date, we have provided more than $45 million in financing and preserved more than 1,130 homes.

Faith-Based Development Initiative (FBDI)
Working in conjunction with East of the River Clergy,-Police-Community-Partnership, Inc. and Georgetown University, the Faith-Based Development Initiative assists organizations developing their often underutilized real estate assets into homes and other community spaces.

Enterprise Green Communities in Washington, D.C.

• Enterprise has invested more than $15 million to build or preserve more than 900 Enterprise Green Communities homes.
• Enterprise and GreenHOME have teamed up to form the D.C. Green Communities initiative. (PDF, 82K)
• Together, we helped to pass the D.C. Green Building Act of 2006 – one of the most advanced green building laws in the country. We train and work with government staff to oversee these standards.
• Thanks to passage of the D.C. Green Building Act, most publicly financed affordable housing developments in Washington, D.C., must meet the Enterprise Green Communities Criteria.
• Enterprise is also piloting new green retrofit financing tools for developers to retrofit their multifamily properties with energy- and water-savings features.

The rehabilitation of Ontario Court preserved affordable homes for 27 families in the gentrifying Washington, D.C., neighborhood of Adams Morgan. Photo: Harry Connolly

Enterprise is grateful to the many partners who support our work in Washington, D.C.

Contact

Enterprise Community Partners
10 G Street, NE, Suite 450
Washington, DC 20002

Phone 202.649.3925
Fax 202.842.9191
Email David

David Bowers
Vice President and Impact Market Leader

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