Wells Fargo donates $15,000 to Habitat for Humanity of Metro Louisville to help more families in Louisville access decent, affordable housing
Louisville, KY (June 28, 2021) – Habitat for Humanity of Metro Louisville is one of more than 220 Habitat organizations awarded a grant from Wells Fargo as part of its nationwide initiative to help low-to-moderate income families construct and improve homes across the country.
“Far too many people across the country are facing housing instability and one of our key priorities is to create housing affordability solutions where everyone can have a safe and affordable place to call home,” said Justin Schappe, Louisville Branch Manager at Wells Fargo Advisors. “We are proud to support Habitat for Humanity in providing homeownership opportunities for hundreds of families nationwide through Wells Fargo Builds.”
Habitat for Humanity of Metro Louisville will receive $15,000 and use the funding to build an affordable, stable home in the Park Springs neighborhood in Louisville, KY. Park Springs is a new mixed-income development in Eastern Jefferson County. At least 51% of the Park Springs homes will serve low-to-moderate income homebuyers and Habitat will build at least 30 of these homes.
“Habitat Louisville is incredibly grateful to partner with Wells Fargo on this affordable housing solution,” says Rob Locke, CEO at Habitat for Humanity of Metro Louisville. “Through Wells Fargo’s investment, we are building strength, stability and self-reliance through the power of home.”
The grant is part of a $7.75 million donation Wells Fargo is making to Habitat for Humanity International through Wells Fargo Builds, an initiative that provides philanthropic financial support and volunteerism to create sustainable affordable housing. More than 340 homes will be constructed or repaired with Habitat in over 40 states through the initiative this year. Wells Fargo Builds is part of Wells Fargo’s $1 billion philanthropic commitment to create more housing affordability solutions by 2025.
About Habitat for Humanity of Metro Louisville
Habitat for Humanity of Metro Louisville was founded in 1985 by a group of volunteers concerned with the lack of affordable housing in Louisville. Since then, Habitat for Humanity has built or rehabbed over 550 homes in Jefferson and Oldham County and completed 184 home repairs in West Louisville neighborhoods. Through volunteer labor and the donations of money and materials, Habitat builds and rehabs safe, affordable homes for people who make between 30%-80% of the area’s median income. All homebuyer families are required to invest 400 hours of sweat equity in their home and in financial and homebuyer education classes. The homebuyers purchase the homes at an affordable, interest free mortgage. The homeowners’ mortgage payments are reinvested to build more Habitat homes. Habitat has served over 2,350 people including 1,700 children, and celebrated with 100 homeowners who have paid off their mortgages. For more information, visit www.louisvillehabitat.org.