(Baton Rouge, Louisiana) – Urban Restoration Enhancement Corporation (UREC), a Baton Rouge based nonprofit community development agency, has been awarded a $55,000 HUD Capacity Building (Section 4) grant from Enterprise Community Partners (Enterprise) to build capacity for the purpose of strategically addressing affordable housing needs in Baton Rouge. UREC will also study the feasibility of expanding to Lake Charles to meet the affordable housing demands anticipated with projected job growth in the area.
A certified community housing development organization since 1992, UREC provides creative housing solutions for low to moderate income families through affordable housing, new and first time homeownership opportunities, neighborhood development and reinvestment, and, most recently, housing rehabilitation.
The Enterprise grant will enable UREC to engage in strategic planning and leadership development in preparation for current and future affordable housing initiatives. UREC will leverage significant private and public capital with this federal award. Every dollar in grant money will be matched directly by $3 of private funding in support of the organization’s efforts.
“Enterprise is pleased to support UREC’s efforts to address the growing housing crisis in Louisiana, which is affecting more than 170,000 people who are paying more than half of their income on rent,” said Michelle Whetten, VP and Gulf Coast market leader at Enterprise. “With the additional private investment that this grant will attract, UREC will be able to increase their impact.”
UREC Board Chair Cathy Denson said: “UREC is most appreciative to Enterprise Community Partners for this investment, which will enable us to strengthen capacity to provide more sustainable and affordable housing opportunities in Baton Rouge and other areas of Louisiana.”
UREC President & CEO Emel Alexander said: “UREC has a track record of bridging the housing gap in underserved communities by providing affordable housing solutions of quality to low and moderate income families. The Enterprise grant will enable us to build out and further advance our mission by providing equal and greater housing solutions to more Louisiana families.”
The mission of Urban Restoration Enhancement Corporation is to “transform communities by investing in people and restoring neighborhoods,” which it accomplishes through community development initiatives in the areas of Affordable Housing, Human Development and Community Engagement. Learn more at www.urecbr.com.
Enterprise Community Partners is a national housing organization with a mission to “create opportunity for low and moderate-income people through affordable housing in diverse, thriving communities.” Learn more at www.EnterpriseCommunity.org.