CPDC Solar
About the project
Enterprise Community Development was formed in 2020 through the combination of two Mid-Atlantic affordable housing powerhouses, Enterprise Homes, Inc., and Community Preservation and Development Corporation (CPDC). Enterprise Community Development brings together the collective talent, resources and assets of both organizations to form one of the nation’s largest housing developers.
Enterprise Community Development is headquartered in Washington, D.C.
Prior to the merger, LISC provided CPDC and the National Housing Trust with $1,227,046 in bridge financing to fund the installation of an extensive 1.2 megawatt solar photovoltaic array atop 12 affordable rental properties that it owns in Washington, D.C. The properties represent 2,500 units of affordable housing, available to residents at 30-60% AMI. The project will contribute to better air quality locally, while reducing global greenhouse gas production. It will also enable CPDC to free up their cash assets to continue to preserve and redevelop new projects.
Partner:
Community Preservation and Development Corporation &
National Housing Trust
Location:
Washington, D.C.
Total Investment:
$1.23 million
Project Category:
Affordable Housing
Product:
Bridge loan
Website:
UN SDGs:
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