In this Enterprise Q&A, National Preservation Fellow Jessie Wang discusses her work and the importance of preserving affordable housing.
Q: How did you first get involved with affordable housing?
During my undergraduate years, I was studying accountancy when I stumbled across an urban planning class. I was drawn to the affordable housing and community development sector because of the field’s focus on racial and economic equity. Since then, I’ve been grateful to be part of a professional community of “housers.” However, I still have no idea how to do my taxes!
Q: Can you tell us more about your work at Enterprise?
I am part of a national Enterprise program called Preservation Next, which focuses on the acquisition, rehabilitation and preservation of unsubsidized and affordable small to medium multifamily (SMMF) housing. Our team is currently planning to launch Preservation Networks in a handful of markets around the country, where we will provide affordable housing developers with a series of trainings, technical assistance, grant support and a capital product targeted for SMMF preservation.
This year, we’ve been working with Enterprise Advisors and our local market teams to develop an online Preservation Toolkit that is both nationally applicable and locally relevant. Our team is also working closely with the Northern and Southern California market staff as we prepare to launch a Preservation Academy in conjunction with the Bay Area Preservation Network. Lastly, we’re helping develop the SMMF capital product and connecting Enterprise Community Loan Fund with interested developers and partners.
By working on a national program that is shaped by local priorities, I’ve been able to learn about preservation work in Enterprise markets across the country. In 2023, we’re planning to replicate our work in the Southeast and Colorado and potentially plug into local preservation work in other areas across the country.
Q: What do you wish other people knew about preservation as an important aspect of affordable housing?
Preservation serves as an anti-displacement measure, preserving properties and keeping people in their homes. Whether it occurs in the context of neighborhood change or disinvestment, preservation can stabilize long-term residents. Additionally, preservation can bring in additional investment to the affordable housing stock and can cultivate more responsible stewardship.
Lastly, I think preservation could become a core component of our affordable housing ecosystem. While some of the issues developers and nonprofits face are inherent to the nature of preservation, most of the challenges are due to the lack of resources and policies that could bring preservation work to scale.
Q: What might someone be surprised to know about you?
I can’t pass up a good antique shop, thrift store or flea market. My favorites to frequent are antique furniture stores, used bookstores, estate sales and garage sales.
Q: What do you do when you aren't working?
In my free time, I enjoy a good puzzle, digging into a good book and biking on Chicago’s lakefront and 606 trails during the warmer months. I also love cooking (motivated by my love of eating), exploring Chicago’s varied neighborhoods and traveling!