Enterprise Supports 6,500 New Orleans-Area Homes
Enterprise Community Partners announced on May 16 that it will be working closely with local partners to support the development of approximately 6,500 affordable single-family homes and apartments in the New Orleans metropolitan area.
With technical support and an investment of more than $20 million from Enterprise, Providence Community Housing, a new nonprofit housing development corporation sponsored by Catholic Charities, Christopher Homes Inc. and several other community-based organizations, is leading the development effort, with a focus on seniors, working families and those with special needs.
Enterprise is also finalizing partnerships with local organizations throughout the Gulf Coast region that are expected to result in more than 15,000 homes, said Bart Harvey, the organization’s chairman and CEO. “This type of work is consistent with our mission to create fit and affordable housing for low-income Americans and help them move up and out of poverty into the economic mainstream,” he said.
Enterprise and Providence are working with Fannie Mae to provide financing to build and renovate this affordable housing.