Enterprise Community Development continues to lean into the revitalization of the historic Highland Park neighborhood in Richmond, Virginia.
Its first step into the neighborhood was almost a decade ago, when it redeveloped a historic property into affordable housing for seniors 62 and older. This fall, the mission-driven developer completed the 66-unit Highland Terrace Apartments and broke ground on Green Park Apartments, which will provide another 43 affordable units and over 3,000 square feet of street-level commercial space.
“These developments really reflect our commitment to our residents,” says Janine Lind, president of Enterprise Community Development. “We are going to be providing services that focus on our pillars of upward mobility, health, and community engagement as well as creating sustainable and affordable housing.”
Lind says Highland Terrace Apartments, which serves families earning between 40% and 60% of the area median income and was fully leased at the end of October, sets a new standard for affordable housing because it blends sustainable living, historical preservation, and community revitalization.
Designed by Torti Gallas + Partners with UrbanCore Construction as the general contractor, the four-story community is built on the site of the former Mizpah Presbyterian Church and Nehemiah House Community Center. To pay homage to the site’s history, a section of the church’s original brick was incorporated into the building.
“The steeple is still standing to recognize the historic impact that the church had on the neighborhood and to connect the past with the future as families move into it,” notes Lind.
Designed to be certified under the U.S. Department of Energy’s Zero Energy Ready Homes program, a rigorous standard for energy efficiency and performance, the homes are built so that a renewable energy system could offset most, if not all, of the annual energy consumption. Sustainability features include a tight building envelope, energy-efficient HVAC systems and windows, as well as Energy Star appliances.
“They produce as much renewable energy as they consume, so, in essence, leaving our occupants with the net-zero energy bill and a carbon-free home,” she says. “For families that are low-income, this really supports their financial upward mobility and well-being. And it gives them some more ways to enhance their lives without having to make trade-offs.”
The apartments range from one- to three-bedrooms. In addition, seven units are designed to Universal Design standards, including two for vision- and hearing-impaired residents.
The $22 million development was financed through a combination of public and private investments, with 4% low-income housing tax credit equity from Enterprise Housing Credit Investments and construction financing from Truist Bank. Additional contributions were provided by Virginia Housing Innovation in Energy Efficiency, Virginia Housing Trust Fund, Virginia HOME, and the Richmond Affordable Housing Trust Fund. The city of Richmond’s Housing & Community Development department also provided substantial backing.
Lind says Enterprise Community Development would like to continue its work in Richmond as well as the state. In addition to the three communities in the Highland Park neighborhood, it has two communities—The Rosa and The Van de Vyver—in the historic Jackson Ward neighborhood, about 2 miles away.
“Growing in Virginia is a focus for Enterprise to expand our footprint and go deeper. And there are a lot of opportunities we see to really expand affordable housing in the state of Virginia. We're very committed to that,” adds Lind.
