Wells Fargo Foundation awards $6.3 million to support build, repair projects across the U.S. with Habitat for Humanity
ATLANTA (July 1, 2024) —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 skyrocketing 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 & 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