ATLANTA, July 1, 2024
/PRNewswire/ -- The Wells Fargo Foundation is kicking off a
nationwide effort to build and repair homes across the U.S. in
collaboration with Habitat for Humanity International. This year,
the company is providing more than $6.3
million in grant funding through the 2024 Wells Fargo Builds
program to support new home construction, renovation and repair of
more than 280 affordable homes in 175 communities across the
U.S.
"At Wells Fargo, we believe access to a quality, affordable
place to call home is something everyone should have," said
Stacy Spann, head of Housing Access
& Affordability Philanthropy at the Wells Fargo Foundation.
"We're proud of our long-standing collaboration with Habitat for
Humanity to help more families access affordable homeownership,
providing family stability and an opportunity to build generational
wealth."
In 2023, housing in the United
States became even less affordable for the average American
due to sky-rocketing mortgage rates, fluctuating inflation, and
incomes barely keeping pace. In California, nearly 38% of households are
cost-burdened, with 1 in 5 households being severely burdened. As
part of the 2023 Wells Fargo Builds program, Habitat for Humanity
East Bay/Silicon Valley received a $30,000 grant to support its Esperanza Place development in Walnut Creek, California. Along with the
funding, more than 65 Wells Fargo volunteers contributed 500-plus
hours to this project as well as others.
The 42-home neighborhood will provide community amenities for
residents including a green space and lighted pedestrian paths as
well as a short walk to the Contra Costa Centre Bay Area Rapid
Transit station, connecting residents with reliable transportation
to commute to work or school. For Yulisa, who will be moving into
her home in Esperanza Place by the end of the year, homeownership
will be transformative for her family. Not only will they no longer
have to worry about rising rent prices, homeownership will also
provide stability for Yulisa's autistic son and help him develop
independence as he grows into adulthood.
"At Habitat for Humanity, we know the power that a safe and
affordable home has on a family," said Charlita Stephens-Walker, vice president, cause
marketing and corporate partnerships at Habitat for Humanity
International. "Through the Wells Fargo Builds program, Habitat and
Wells Fargo are working together to make a difference for families
through affordable homeownership. We are grateful to have the
invaluable support of Wells Fargo for another year."
For more than 30 years, Habitat for Humanity International and
Wells Fargo have worked together to increase access to affordable
homes and homeownership. Wells Fargo and the Wells Fargo Foundation have
donated more than $136 million to Habitat for Humanity
International and local affiliates since 2010, including support
for new home construction and repairs, helping older adults age in
place in their homes, and neighborhood revitalization and disaster
response efforts. Wells Fargo has
also supported other Habitat efforts including its Cost of
Home national advocacy campaign and the Jimmy and Rosalynn
Carter Work Project.
About Habitat for Humanity
Driven by the vision that everyone needs a decent place to live,
Habitat for Humanity found its earliest inspirations as a
grassroots movement on an interracial community farm in south
Georgia. Since its founding in
1976, the Christian housing organization has since grown to become
a leading global nonprofit working in local communities across all
50 states in the U.S., Puerto
Rico, and more than 70 countries. Families and individuals
in need of a hand up partner with Habitat for Humanity to build or
improve a place they can call home. Habitat homeowners help build
their own homes alongside volunteers and pay an affordable
mortgage. Through financial support, volunteering or adding a voice
to support affordable housing, everyone can help families achieve
the strength, stability and self-reliance they need to build better
lives for themselves. Through shelter, we empower. To learn more,
visit habitat.org.
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SOURCE Habitat for Humanity International