Helping Real Estate Diverse Developers Create Affordable Housing

NORTHAMPTON, MA / ACCESSWIRE / May 6, 2024 / Wells Fargo:

Growing Diverse Housing Developers program is increasing equity through access to capital and the supply of affordable homes.

A diversity of real estate developers is essential for strengthening the housing development ecosystem as a whole and expanding the supply of homes that are affordable. The Growing Diverse Housing Developers (GDHD) program - funded by the Wells Fargo Foundation - provides diverse real estate developers with training, networks, grant capital, and resources needed to grow the capacity of their development firms and expand their affordable housing production.

In this video, hear from GDHD participants and stakeholders as they discuss the challenges that diverse developers face including access to capital, and talk about the importance of the Growing Diverse Housing Developers Program in providing diverse developers with the capital, networks, and resources needed to be full-fledged housing developers. Affordable housing development firms led by people of color - both nonprofit and for-profit - are highly underrepresented in the housing industry, yet are a critical resource for strengthening the housing development ecosystem as a whole and expanding the supply of homes that are affordable. To increase the supply of homes that are affordable and to support the sustained growth and financial independence of experienced development firms that are led by people of color, the Growing Diverse Housing Developers (GDHD) program was created. GDHD supports real estate diverse developers in geographies nationwide with training, mentorship, and grant funds to help them expand their business and create greater access to affordable housing in their communities. It is implemented by Capital Impact Partners, Low Income Investment Fund (LIIF), and Reinvestment Fund through a $30 million grant from Wells Fargo.

Watch the video: https://ow.ly/mMEm50Rmyqr

Growing Diverse Housing Developers program is increasing equity through access to capital and the supply of affordable homes.

View additional multimedia and more ESG storytelling from Wells Fargo on 3blmedia.com.

Contact Info:

Spokesperson: Wells Fargo
Website: https://www.3blmedia.com/profiles/wells-fargo
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SOURCE: Wells Fargo

View the original press release on accesswire.com