A subsidiary of the Enterprise Foundation will help administer a $300 million fund created by NationsBank Corp. to build multi-unit housing developments for an estimated 10,000 low-income and inner-city families.

The Nations Housing Fund III, managed by NationsBank and the Enterprise Social Investment Corp., will provide investment capital for the creation of multi-unit projects that qualify for the federal low-income-housing tax credit.

The nonprofit Columbia, Md.-based Enterprise Foundation helps fund housing and community development organizations around the country. The foundation, started in 1982 by James and Patricia Rouse, has raised or committed more than $2.3 billion in loans, grants and equity to build or renovate 86,000 apartments and houses.