Enterprise has successfully secured over $500 million through the closing of two new affordable housing funds. The funds, Enterprise Housing Partners Fund 44 (EHP 44) and Enterprise Preservation Fund V (Fund V), have attracted investments from 20 different backers. These funds are projected to facilitate the creation or preservation of more than 6,300 affordable units nationwide. 

  • EHP 44 is a $344 million LIHTC fund launched by Enterprise Community Partners with the fund aiming to support the development of more than 2,000 affordable homes across 12 states.  
  • EHP 44 focuses on providing affordable housing solutions, particularly for households earning 60 percent or less AMI.  
  • In addition to creating housing, it is expected to generate nearly 3,000 jobs and have a significant economic impact through wages, business income and tax revenue.  
  • The fund includes twenty-two properties, including those in CA, FL, LA, MA, MI, MT, NE, NJ, NY, OR, TX, and WA. 

Fund V is a $182 million preservation joint-venture equity fund managed by Enterprise Community Partners.  

  • The fund focuses on preserving affordable housing units, with plans to safeguard over 4,300 homes across at least eight states, including CA, MD, MO, OH, TN, TX, VT and WA.  
  • It aims to rehabilitate and extend the affordability of existing multifamily properties, ensuring long-term housing stability for low- and moderate-income residents.  
  • Fund V is part of Enterprise’s broader strategy to preserve affordable housing in key markets, especially in communities facing displacement risks.  
  • The term sheet for the preservation equity fund can be found here with details on eligible sponsors and projects, use of funds, equity size, investment time horizon and cash flow distribution priority, and related terms.  
  • Included in the fund is a naturally occurring affordable housing project in Denton, TX converting 75 percent of its market-rate units into affordable at AMIs ranging from 50 to 65 percent consisting of a public-private partnership joint venture between Parliament Drive, LLC and the Denton Housing Authority.