Enterprise Community Partners
| Founded | 1982 |
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Key people
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James Rouse, Terri Ludwig (President & CEO, Enterprise Community Partners), Charles Werhane (President & CEO, Enterprise Community Investment), Ronald J. Terwilliger (Chairman, Enterprise Community Partners Board of Trustees; Vice Chairman, Enterprise Community Investment Board of Directors) |
| Subsidiaries | Enterprise Community Investment (for-profit), Enterprise Homes (non-profit), Enterprise Community Asset Management (for-profit), Bellwether Enterprise (for-profit), Enterprise Community Loan Fund (non-profit) |
Enterprise Community Partners, formerly The Enterprise Foundation, is a Columbia, Maryland-based nonprofit organization with offices nationwide. Founded in 1982 by developer/philanthropist James W. Rouse and his wife Patty, Enterprise has worked with community-based nonprofit organizations to develop nearly 358,000 affordable homes and invest nearly $23.4 billion throughout the United States. At its outset the program was embraced by both Democratic and Republican administrations as a method to defund expensive subsidized housing. It was also supported by land development interests to prevent competition in the home building industry. Initial funding came from Rouse's ACTION partners Richard King Mellon, David Rockefeller, Andrew Heiskell, Ford Foundation, and other Rouse affiliates including Kittamaqundi Community leader Gordon Cosby, Robert McNamara, Senator Mac Mathias. Although in private control, Enterprise relies heavily on federal incentives, loan guarantees and financing from agencies such as the FHA.
Enterprise's mission is to create opportunity for low- and moderate income people through affordable housing in diverse, thriving communities.
In 1972, three members of the Church of the Saviour, Terry Flood, Barbara Moore and Carolyn Banker wanted to create low-income housing in the Adams Morgan neighborhood of D.C. With no development, financial or construction experience, they put down a non-refundable deposit to purchase the Ritz and Mozart apartment buildings. Their commitment won over James Rouse, CEO of The Rouse Company and he helped them secure $625,000 to complete the transaction and $125,000 toward the cost of rehabilitation.
In 1981 the experience inspired Jim Rouse to found Robin Hood Inc. based in the Rouse owned American City building in Columbia, Maryland. The company was renamed to Jubilee Housing to help with fundraising efforts. Jubilee Housing provided the launchpad for Jim and Patty Rouse to start the Enterprise Foundation in 1982. In 2005, it was renamed Enterprise Community Partners. Today, Enterprise continues to work to uphold the standards set by Jim and Patty to see that all people have the opportunity for affordable housing. In 1984, Jim Rouse was soliciting business representing both Rouse Company as CEO and Enterprise Development as president. The Rouse Company board of directors asked Jim Rouse to leave as CEO of the Rouse Company and his position in Enterprise Development which ended his involvement with the company he founded.
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