Wells Fargo Gives $1.5M to Habitat For Humanity for Innovative Housing Solutions
Homeownership has become out of reach for many, with a recent report from the National Association of Realtors showing that 80% of metros across the U.S. are still seeing home prices grow.
To combat this challenge, organizations are looking at alternative methods of building that can help speed up construction times and lower costs. Wells Fargo recently announced during the Iowa State Fair that it is making a $1.5 million investment to Habitat For Humanity to focus on innovative and affordable housing options.
Of the total, $1 million will go to Habitat For Humanity International, and $500,000 will go to Greater Des Moines Habitat For Humanity to expand affordable housing solutions in towns and rural communities in central Iowa.
In addition to the donation, Wells Fargo employees volunteered with Greater Des Moines Habitat For Humanity at the state fair to build wheelchair ramps for local homeowners.
Through this initiative, Habitat will advance alternative housing solutions, such as modular construction and other types of off-site building techniques. The goal of the initiative is to enhance build times across the organization and therefore provide more housing to individuals in need, Habitat For Humanity says.
“Along with our traditional home building model, modular homes are an added solution to the housing affordability crisis,” says J. Edwin Hensley, director, U.S. construction at Habitat For Humanity International. “This is a national push. With the support of Wells Fargo, we have the opportunity to prove this can work in rural, suburban and urban communities.”
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Catherine Sweeney, Content Strategist/Staff Writer
Catherine Sweeney is a content strategist and staff writer for Pro Builder and Custom Builder Online, with a focus on design trends, new products, and environmental issues. Contact her at csweeney@endeavorb2b.com.
