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Jim and Patty Rouse |
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In 1982, legendary urban visionary Jim Rouse and his wife Patty founded Enterprise Community Partners, Inc. (then named The Enterprise Foundation), with the ambitious goal of making sure every American lives in a decent, affordable home.
Today, Enterprise is a leading provider of capital and expertise for affordable housing and community development. Enterprise works with partners – developers, investors, government, community-based nonprofits and others – to reach our common goal.
The story of Enterprise starts with a little church in Washington, D.C., that wanted to do something about housing for the poor. It is the story of an unassuming man who would revolutionize the way America thinks about urban neighborhoods and the people who live there. And it is the story of how a leap of faith eventually would change the lives of hundreds of thousands of low-income people across the country.
In addition to being a successful real estate developer, Jim Rouse was a man of enormous skill and endless compassion. When he learned of a mission group from the Church of the Saviour in Washington, D.C., and its success in turning an abandoned storefront into the Potter's House coffee house, it opened a new chapter in his life.
Jim met with the group and began a lifelong association with Reverend Gordon Cosby, the church pastor. Jim and his wife, Patty, were married at the Church of the Saviour and it would be three women from the church who would usher Jim and Patty Rouse fully into the world of affordable housing.
Terry Flood, Barbara Moore and Carolyn Banker came to Jim in 1972 looking for advice on creating low-income housing in the Adams Morgan neighborhood. Three young women with no development, financial or construction experience? The CEO of The Rouse Company listened, but thought the idea preposterous.
They didn't. Undeterred, they put down a non-refundable deposit to purchase the Ritz and Mozart apartment buildings. Their commitment won Jim over. He helped secure $625,000 to complete the transaction and $125,000 toward the cost of rehabilitation.
It took 50,000 hours of volunteer time and $500,000 in grants to clean out the rats and garbage and to repair, paint and correct more than 940 housing code violations to create 90 apartments affordable to low-income people.
Jubilee Housing was born. Jim and Patty Rouse would become Jubilee Housing board members. Enterprise was born out of the Jubilee Housing experience. Today, Enterprise continues to work to uphold those standards set by Jim and Patty to see that all people have the opportunity for fit and affordable housing. |
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