Edward Norton's $9,000,000,000 Housing Project (that's $9 Billion)

Edward Norton, the two-time Oscar nominee, stood at the podium at the Hilton Washington this past May and tried to be humble. The actor was in the capital to present a major civil rights award to someone he knew well -- his grandmother. It was gearing up to be a nice moment. "I work in a profession," he told the crowd of social workers, lawyers, and community organizers, "that gets a totally disproportionate amount of attention relative to its true contribution to our culture." Suddenly, from the front row, the no-nonsense clerk of the U.S. House of Representatives, Lorraine Miller, snorted, then began to clap, slowly and theatrically, beat by sarcastic beat.

Startled, Norton looked up from his notes and peered into the dark ballroom. Then he shrugged and started to laugh along with the audience.

Tough crowd, D.C. Not even the Hulk can get a break -- which, in this case, wasn't really fair. Norton went on to honor 82-year-old Patty Rouse for her role in Enterprise Community Partners, an affordable-housing organization that she cofounded with Norton's grandfather, real-estate developer James Rouse.

But Norton's appearance wasn't merely a cameo, a movie-star drive-by. On the contrary, he has been an active participant in Enterprise since he was a kid. His first job after college was an analyst spot there; he sits on the board and has donated more than $1 million. What's more, he has played a key role in encouraging Enterprise to embrace green building -- a shift that has enabled the business to keep moving despite the housing crisis and mortgage meltdown. In fact, Enterprise is arguably the one bright light in an industry dominated by excess and foolishness. Its model offers clues to how we all might climb out of our real-estate mess.

Enterprise may be one of the most influential organizations you've never heard of. A for-profit/not-for-profit hybrid, Enterprise has invested $9 billion in equity capital, predevelopment lending, mortgage financing, and development grants to house low- and moderate-income Americans. It has revitalized some of the country's poorest neighborhoods, from Fort Apache in the Bronx to the Tenderloin in San Francisco. Perhaps its most important accomplishment was helping to create the low-income-housing tax credit that for 25 years has provided a way for the business world -- developers, bankers, and boldface names like Warren Buffett -- to address the pressing social need for affordable housing while still making a profit. That credit has had a bigger impact than the Department of Housing and Urban Development, accounting for some 90% of the affordable rental housing in the United States.

Norton is hardly the only contributor to Enterprise's success. It has been an ensemble performance, including former CEO Bart Harvey, who was tapped this fall to join the reconstituted board of Fannie Mae; his successor, Doris Koo; and Charlie Werhane, who runs the organization's tax-credit business. There is no assurance that the credit storm will not undo two-and-a-half decades of Enterprise's good works. But it's instructive to look at Norton, Enterprise, and their behind-the-scenes role -- even in the current drama, in Congress, and at the White House -- to see what is possible when responsible business and a farsighted social mission dovetail in a search for creative solutions.

From the beginning, Enterprise has used a combination of market forces, good data, and political savvy to create mechanisms -- no, not subprime mortgages or mysterious derivatives -- that help nonprofit developers and cities build high-quality housing for low- and middle-income people. Now, with the neighborhoods it has helped resurrect under pressure, Enterprise has launched a new round of financial innovation. Armed with mounds of real-world construction-related data about energy efficiency, carbon emissions, and public health, and dismayed by the vulnerability of traditional credit schemes, the Enterprise team is marketing regional green-building investment funds to companies anxious for both financial returns and environmental cred. It has also launched the first carbon-offset fund designed to raise money for affordable housing. At the end of the day, Enterprise's mission has always been to provide people with clean, safe, affordable homes and create communities that work. But if its efforts can help buoy the whole real-estate market -- and save the planet as well -- so much the better.