More Than a Home Highlights Community Investments Impact Success and Well-Being of Residents
A new report published by Enterprise, More than A Home: Investing Together to Create Opportunity, explores the impacts of community investments on the success and well-being of its residents.
In its report, Enterprise uses a framework defining the key indicators of opportunity as:
- housing stability,
- health and well-being,
- economic security, and
Families thrive when they can live in an affordable home in a neighborhood full of opportunity.
To illustrate the positive effects of community investment, Enterprise focuses this piece on a case study of a successful and thriving affordable housing development in Arlington, Virginia – Clarendon Court.
The investments in this community were part of a strategy called Our Region, Your Investment. Our Region, Your Investment allows local individuals, institutions, and businesses to invest in the community, with measurable indicators demonstrating success.
The Arlington County case study demonstrates how strategic actions support the sustainability of the project, improve residents’ lives, and guarantee affordability into the future.
These actions include guaranteeing the County has the advantage to purchase the property first if the property owner ever decided to sell, as well as planned upgrades and improvements to the property.
In 2016, Enterprise Community Loan Fund worked with the Washington Regional Association of Grantmakers to launch Our Region, Your Investment-an impact investing initiative designed to address the housing affordability crisis in the Washington, D.C. region.
In less than two years’ time, we have successfully raised more than $12 million from a wide range of local investors, fully deployed and reinvested those funds and analyzed our impact. Nearly 500 affordable homes have been preserved throughout the region because of the collective investment of community members, local foundations, and businesses.
Since 1990, the Enterprise Community Loan Fund has invested more than $1.6 billion in housing, health care, education, and community investments for low-income individuals. In Connecticut, the Loan Fund has invested $225,000 during that time. The Enterprise Community Loan Fund is part of the Enterprise family.