Baton Rouge-based Urban Restoration Enhancement Corp. has been awarded a $55,000 federal grant by Enterprise Community Partners, a New Orleans nonprofit organization that helps create affordable housing for low- to moderate-income families.
The Housing and Urban Development Capacity Building grant, also known as a Section 4 grant, will go toward planning and leadership development for affordable housing initiatives, UREC says in a news release. UREC will match $3 with every grant dollar, to be paid through private funding.
“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 Board Chair Cathy Denson says in a prepared statement.
UREC has also studied the feasibility of expanding to Lake Charles because of the anticipated job growth in that market.
“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,” says Michelle Whetten, vice president and Gulf Coast market leader at Enterprise, in a prepared statement. “With the additional private investment that this grant will attract, UREC will be able to increase their impact.”
Founded in 1992, UREC’s goal is to “transform communities by investing in people and restoring neighborhoods.”
