Enterprise and Wells Fargo Foundation Announce $20M Housing Affordability Breakthrough ...

credit: NBC Philadelphia

"We urgently need to reimagine access to quality affordable places to live in the US, which is so tightly linked to economic stability, physical and mental health, and ultimately generational wealth."

So says Otis Rolley, president of the Wells Fargo Foundation, in announcing the second annual Housing Affordability Breakthrough Challenge, a $20 million effort from Wells Fargo and Enterprise Community Partners to find solutions to the country's housing affordability problem.

The challenge, which will focus on three categories: financing, construction, and access and resident support, will offer grants of up to $3 million and two years of technical assistance to transform ideas into solutions that can be replicated in the real-world, per a press release.

"We cannot address the serious housing affordability gap in this country without improving access and creating cost savings that will help boost supply," says Jacqueline Waggoner, president of Enterprise's Solutions Division.

Last year's winners, who received $2.5 million in grants to implement their solutions, will be selected by a panel of judges in the fall of 2023, with winners expected to take part in a multi-year initiative to share ideas and cultivate their innovations into solutions that can be applied in communities across the US.

Interested parties can learn more about the competition at Enterprise's website...

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