CONCORD, N.H. – ROC USA® has been announced as a semi-finalist in the second round of the Housing Affordability Breakthrough Challenge led by Enterprise Community Partners with support from Wells Fargo Foundation.
Only 10 percent of the more than 425 applications made it to the second round. The program is open to housing innovators who are competing for grants of up to $3 million in the focus areas of construction, financing and access and resident support.
The finalists, who are selected to move onto the third and final round of the challenge, will be announced in early August.
“What Wells Fargo and Enterprise are doing with the Breakthrough Challenge is particularly exciting because the dollars are large, the judging is top-notch and the competition is intense,” said ROC USA President Paul Bradley. “We are thrilled to have successfully cleared the first round of applications, and our team is hard at work gearing up for the next round.
“We’re excited at the prospect of leveraging and deploying this funding for truly meaningful impact.”
Enterprise Community Development is the top nonprofit owner and developer of affordable homes in the Mid-Atlantic and is an affiliate of Enterprise Community Partners. It specializes in high-impact residential development, preservation, property management and resident services for more than 23,000 people. Its $1.2 billion portfolio includes 110 communities and 13,000 homes, positioning it as one of the top five nonprofit owners of affordable housing in the United States. Its mission is to uplift residents and communities.
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. It provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.