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The Housing Enterprise of Central Alabama (HECA) is an institution
formed to support the development of moderately priced housing in a
12-county area around Birmingham.
HECA is a Birmingham-based joint venture comprised of leading financial institutions in the area including AmSouth Bank, Regions Bank, Compass Bank and New South Federal Savings Bank.
HECA works in tandem with its charitable foundation, the non-profit Housing Fund of Central Alabama. In addition to financial institutions involved with HECA, supporting organizations are: The Community Foundation of Greater Birmingham, The Walker Area Community Foundation and the Calhoun County Community Foundation. Housing Enterprise of Central Alabama opened for business in April 2003 with an initial funding availability of nearly $64 million.
Opening
of the home ownership center in East Lake.What We Do
HECA’s mission is to lend money to private developers and non-profits to help build and renovate safe, decent housing for low-and moderate-income families. Jointly, HECA and the Fund generate affordable housing units in the region by providing gap financing and/or more aggressive construction/acquisition loans or investments to qualified projects.
HECA seeks to expand or leverage conventional lending opportunities in the region, and to increase local capacity for the development of scale entry-level, single- and multi-family housing.
HECA also is a catalyst for neighborhood revitalization, economic
development and the creation of housing opportunities in areas not
typically accessible to families of moderate means.
Learn more about HECA by visiting their website, www.housingenterprise.com.
Learn more ...
• Introduction
• What is considered moderately priced or “affordable” housing?
• Our history
• What we strive to accomplish
• Financial products and projects
• Leadership and governance
• Who we serve
• Overview (PDF)
• For more information
