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Enterprise worked with Progress of Peoples Development Corporation (POP) to refinance and preserve 1,000 HUD 202 affordable homes for seniors in Brooklyn and Queens, establishing a model for 202 refinances around the country. L-R: Enterprise New York Deputy Director Lydia Tom; John Tynan, Executive Director of Progress of Peoples Development Corporation; and neighborhood residents. Photo: Girl Ray |
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New York is consistently in danger of losing affordable housing to economic pressures or as the result of aging, outdated properties. Enterprise commits substantial resources, engineers innovative financing, and develops new management solutions to preserve and protect existing affordable homes. Together with new development, preservation is a critical strategy in providing affordable housing. Learn about affordable housing preservation.
Caring for properties long-term and satisfying the complex regulatory demands involved in developing affordable housing can be as challenging as building them. Enterprise asset managers ensure that both property management staff and developers maintain the health of the affordable properties we have helped to create. Learn about Enterprise Asset Management and Compliance.
Enterprise New York provides grants, training and technical assistance to our community development partners so that they can increase their size and reach, operate effectively, and attract and train leaders.
Through Green Communities, Enterprise is transforming how America thinks about and builds affordable housing. In New York City, where poor children have very high asthma rates and living costs are exorbitant, Enterprise and our partners create affordable homes that are healthier, save on energy costs, and are environmentally responsible too.
Through our innovative loans – as well as the assistance we provide in managing them – Enterprise offers opportunities to build affordable housing when traditional lenders might not.
Since 1986, the Low Income Housing Tax Credit program has been a critical financing tool for affordable home building. One of the first investors to use tax credits, Enterprise has raised and managed $4.7 billion in equity invested in low-income communities across the United States.
The New Markets Tax Credits program is a catalyst for the renewal of American cities and towns. These federal tax credits attract private capital to economically distressed communities. They benefit investors, developers, and most importantly, low-income residents.
The Fund offers predevelopment and acquisition loans for the creation and preservation of affordable housing in New York City. With its flexible underwriting terms and shorter turnaround time than any previously available source of financing, the Fund helps both nonprofit and for-profit affordable developers get the resources they need to acquire privately owned property. Visit the New York City Acquisition Fund Online.
Playgrounds, computer centers, childcare, and other creative assets foster community growth and attract new investment. Enterprise invests in both homes and community facilities to build neighborhoods with healthy infrastructures and broad resources. Learn more about resident services.
The Rose Fellowship program places young architects in three-year fellowships in low-income neighborhoods to do intensive community development projects. The Rose Fellows achieve tangible and systemic results toward the economic, social, cultural, health, and environmental well-being of neighborhood residents.
Together with our partners, Enterprise builds permanent housing with intensive support services for people who face the most complex challenges: seniors, the formerly homeless, people living with AIDS, people overcoming addictions, victims of domestic violence, and other populations with special needs.
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