Habitat for Humanity of the Greater Teton Area and Jackson Hole Community Housing Trust are two of 62 nonprofits nationwide to receive funding focused on solutions to the U.S. housing crisis
Habitat for Humanity of the Greater Teton Area (Teton Habitat) and Jackson Hole Community Housing Trust today announced a total of $300,000 from the Wells Fargo Foundation to support housing affordability and catalytic neighborhood revitalization efforts in Jackson, WY. Teton Habitat received a grant for $200,000, and Jackson Hole Community Housing Trust received $100,000.
“We are delighted and grateful for the support of the Wells Fargo Foundation,” says Kris Greenville, executive director for Teton Habitat. “This grant and our ongoing collaboration allows us to address the critical need for housing for hardworking families in the Teton Area.”
Teton Habitat will use the funds to complete its largest project to date, The Grove, Phase III. This 24-home development in the Town of Jackson will provide affordable housing for the lowest income earners in the community. Teton Habitat is currently raising $6 million for the construction project. The grant, as well as one gifted in 2017, makes Wells Fargo the largest contributor to The Grove, Phase III thus far.
“Every affordable housing project, every time, requires a village. This work would not be possible without the help of our community and without incredibly generous financial support,” said Anne Cresswell, executive director of the Housing Trust. “The lead gift from Wells Fargo is a fantastic way to launch our $2.1 million King Street Capital Campaign; we are truly grateful for Wells Fargo’s support.”
The grant to the Housing Trust marks the first contribution for its development on King Street. This gift will leverage support from the Jackson Town Council and generous private donors to ensure 24 new condos are affordable for hardworking families in Jackson. The Housing Trust relies on grants and generous community support to maximize the affordability of each project.
“The housing cost burden is taking a toll on nearly every community, and these two organizations share Wells Fargo’s focus on strengthening communities by bringing forward housing affordability solutions and local neighborhood revitalization efforts,” said Clint Gillum, Wells Fargo district manager. “Wells Fargo is committed to the Jackson community. These grants give us a unique opportunity to continue supporting public-private collaboration to make an even greater impact.”
Grant recipients were selected based on their demonstrated ability to create positive outcomes and catalyze large-scale neighborhood revitalization. The Jackson organizations are two of 62 nonprofits across the U.S. to share in a total of $9 million in funding through the foundation. Wells Fargo committed $1 billion over the next six years to address housing affordability philanthropy solutions including transitional housing, availability and affordability of rental homes, and sustainable homeownership.
About Habitat for Humanity of the Greater Teton Area
Teton Habitat builds attractive, affordable homes in partnership with donors and volunteers in the Greater Teton Area. Homes are sold at no profit to pre-selected families and individuals with an interest-free loan to ensure affordable monthly payments. Homeowners are required to contribute at least 500 hours of “sweat equity”, save for closing costs, and complete a series of homeowner education classes in order to purchase the home. Teton Habitat also runs the Habitat for Humanity ReStore, which sells donated building supplies, home furnishings and appliances to help support Habitat’s program.
About the Jackson Hole Community Housing Trust
Since 1994, the Jackson Hole Community Housing Trust has built or acquired 146 permanently affordable homes that have served more than 420 individuals, families and couples. Most recently, the Housing Trust completed construction on Redmond Street Rentals, which is now home to 50 dedicated members of the community. In the spring of 2020, the Housing Trust will begin construction on 24 more affordable condos near the heart of downtown Jackson at 174 N. King St.
About Wells Fargo
Founded in 1852 and headquartered in San Francisco, Wells Fargo & Company (NYSE: WFC) provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,500 locations, more than 13,000 ATMs, and the internet (wellsfargo.com). With approximately 261,000 team members, Wells Fargo serves one in three households in the United States. With its corporate philanthropy, Wells Fargo aims to pave a path to stability and financial success for underserved communities by focusing on housing affordability, small business growth, and financial health, among other local community needs. In 2018, Wells Fargo donated $444 million to nearly 11,000 nonprofits. For 10 consecutive years, Wells Fargo has held the honor of No. 1 in workplace giving by United Way Worldwide. Wells Fargo team members also actively support communities by donating more than 2 million hours of volunteer time in the last year. News, insights and more information on the company’s overall corporate responsibility are available at Wells Fargo Stories and www.wellsfargo.com/impact.
Habitat for Humanity of the Greater Teton Area
Kris Greenville, 307-734-0828, ext. 103
ReStore Facebook: https://www.facebook.com/tetonhabitatrestore/
Jackson Hole Community Housing Trust
Stefani Wells, 307-739-0665
Julie Fogerson, 208-570-3037