"We want everything Enterprise touches to be green by 2013," Charles R. Werhane, president and CEO, Enterprise Community Investment, the for-profit subsidiary of the company, says in a prepared statement. "We now have the proof that it works and we are poised to take the initiative to the next level. By bringing more innovative and responsive financing tools to our partners, we are pushing forward systemic change in our industry.

Together with the announcement of its new commitment, Enterprise also released "Incremental Cost, Measurable Savings: Enterprise Green Communities Criteria", a study showing the cost effectiveness of meeting Enterprise Green Communities Criteria. It found that estimated lifetime savings exceed the initial investment made to incorporate the criteria into affordable housing.

Enterprise's current pipeline calls for creation, preservation or retrofit of 75,000 green homes and community and commercial buildings within the next five years. It also plans to lend capital to multifamily building owners that want to make green enhancements to their properties, through its newly established retrofit funds.

Financial backing Enterprise has received recently for these projects include a $95-million New Markets Tax Credit allocation to target green deals, a $1.5-million grant from the Home Depot Foundation and $1 million grants from both the Kresge Foundation and the Kendeda Fund.