June 5, 2014

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Article

$11 Million Pleasant View Housing Development to Serve Low-Income Families

Press Release

June 5, 2014

Pleasant View – Enterprise Community Investment, Inc. has announced an $11 million deal to build a new housing development for low-income families in Pleasant View. Financed through the Low Income Housing Tax Credit, The Station at Pleasant View II is planned to provide quality affordable housing with supportive services to formerly homeless families, people living with physical disabilities and survivors of domestic violence. The development meets the Enterprise Green Communities Criteria, the first national framework for creating and preserving green affordable housing.

“These homes will be made possible by the housing credit, America’s main tool for efficiently creating and preserving affordable rental housing,” said Raoul Moore, senior vice president of syndication at Enterprise. “Working closely with our partners enabled Enterprise to respond to the local needs of these communities, creating housing that will provide residents the opportunity to lead stable, successful lives.”

The Station at Pleasant View II is being funded in part with $11 million in housing credit equity provided by Enterprise. It is the second phase of an ongoing development in the area in partnership with Horizon Development and Management. When construction completes in 2015, its 72 apartments will include nine set-asides for people with physical disabilities, five for formerly homeless families, and seven for survivors of domestic violence. Residents will have access to key services that will help them maintain independence, access jobs and care for their families.

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