Nonprofit Group Receives $5-Million for Low-Cost Housing
March 16, 2007 | Read Time: 1 minute
Trammell Crow, a Baltimore construction company, is donating $5-million to Enterprise Community Partners, a nonprofit group that plans to start a new program in Baltimore designed to make homes more affordable, reports WBALTV, a Baltimore television station.
“Incomes have gone up but (only) 3 or 4 percent, while housing costs are up 12 to 15 percent and the population is getting priced out of housing. We think Americans are entitled to a suitable home and decent living environment,” said Ron Terwilliger, who owns the construction company.
Officials at Enterprise Community Partners said the money would go toward building 2,000 low-priced homes and lowering interest rates for buyers on housing loans.
