Monday, October 26, 2015

Bank of America funds metro-DC affordable housing initiative, launches second Habitat Global Build

News from NHC's family of members
by Radiah Shabazz, National Housing Conference 

NHC Chairman’s Circle member Bank of America Merrill Lynch is doing a lot on the affordable housing front, with other NHC members are also in the mix. In September, the Bank of America Charitable Foundation awarded NHC member Community Preservation and Development Corporation (CPDC) a grant for $50,000 to support its affordable housing work in the Washington, D.C. metropolitan area. Additionally, Bank of America has teamed with another NHC member, Habitat for Humanity International, for its second Global Build, which will take place in eight countries.

The Global Build aims to address affordable housing challenges, revitalize communities and help families improve their living conditions, eventually leading to homeownership. During the week-long build, an estimated 2,000 Bank of America staff members will volunteer with Habitat for Humanity in cities all around the world, including Hong Kong, Sydney, Manila, London and Toronto.

“Through our longstanding relationship with Habitat for Humanity, we have been able to partner on efforts like the Global Build and bring our international scale to help more people achieve homeownership and put them on the path to a stronger financial future,” said Andrew Plepler, a global corporate social responsibility executive with Bank of America in a press release. 

Jeff Wood, the Greater Washington market president of Bank of America, spoke about the organization’s grant to CPDC, saying in a press release, “Although the economy has improved, affordable housing is still hard to find for low-and-moderate income families. This support will allow CPDC to extend its efforts across the region, reaching more families and building the essential partnerships needed to help break the cycles of homelessness and hopelessness.”CPDC will use funds from this grant to expand properties in Silver Spring, Md. and southeast Washington, D.C.

The support Bank of America is providing to both Habitat for Humanity International and CPDC will enhance community revitalization efforts taken up by both organizations. 

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