The Wells Fargo Foundation has announced a $20 million competition with Enterprise Community Partners (Enterprise) to find housing solutions. 

The second Housing Affordability Breakthrough Challenge will focus on three areas: financing, construction, and access and resident support. Innovators will compete for grants of up to $3 million and two years of technical assistance. A variety of entities are eligible to apply, including nonprofits, Tribal organizations, and mission-driven for-profit entities in 38 markets. Launched in 2020, the inaugural Housing Affordability Breakthrough Challenge attracted more than 800 applications and awarded six organizations a total of $2.5 million in grants. 

“We cannot address the serious housing affordability gap in this country without improving access and creating cost savings that will help boost supply. The Housing Affordability Breakthrough Challenge has proven that investing in pathbreaking innovations at the local level is a powerful way to build more equity and affordability in our communities nationwide,” said Jacqueline Waggoner, president of Enterprise’s Solutions Division. “We are proud to join Wells Fargo once again as we focus on uplifting and strengthening the most promising ideas to meet the urgent need for more affordable homes and better serve individuals and families across the country.”

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