Enterprise Community Partners has successfully secured $444.47 million from 19 investors through the closure of Enterprise Housing Partners Funds XLI (EHP 41) and XLII (EHP 42). These Low-Income Housing Tax Credit funds will be utilized to preserve and construct affordable homes, totaling to approximately 3,500 units across a span of 30 properties in 16 states. This significant investment further reinforces Enterprise’s commitment towards affordable housing with a total investment value of $20 billion, preserving nearly 200,000 homes nationwide.
The investments made in EHPs will not only create much-needed housing but also generate over5,200 jobs and an estimated income of $795 million through wages,tax revenue,and business income. Some noteworthy projects include the rehabilitationof Yosemite Apartments in San Francisco as well as the constructionof Escalante Meadowsin Guadalupe, California – both catering specificallyto low-income householdsand expected to be completed by2024.
Accordingto Scott Hoekman,presidentofEnterprise’shousingcreditinvestmentbusiness,”Through EHPs41and42,andwiththesupportofoiurinvestors,wewillbeabletobuildandprotectcriticallyneededhousingacrossthecountry.Fromruralareasthreatenedbyclimatechangetourbancoresthatstrugglewiththehomelessnesscrisis,thisinvestmentwillhaveapositiveimpactoncommunitiesnationwide.”
