Working with Habitat for Humanity to create affordable housing in Georgia

Dec 20, 2012

Bank of America has donated six properties to Southern Crescent Habitat for Humanity to help create affordable housing for low-income families in south metropolitan Atlanta. Three of the properties are part of the bank’s national partnership with Habitat, through which up to 2,000 properties will be donated for renovation and reconstruction over the next three years.

Under the new strategic alliance, Bank of America and Habitat will work to create affordable housing in Atlanta. In addition to donating properties, the bank will contribute to the demolition and bank employees will be made aware of opportunities to volunteer during construction.

Three Bank of America property donations made prior to this initiative have been completed by the Habitat affiliate since July 2012. Additional partners in the project included members of the Henry County faith community, who provided direct donations, volunteers and fundraising efforts. Additional support was generated through event partnerships and other local nonprofits.

At a dedication ceremony in Stonebridge, Ga. on Dec. 13, keys to a home were presented to Ms. Crawford, a single mother, and her six-year-old son, who previously lived in a water-damaged apartment. To partner with Habitat, families must demonstrate a need for affordable housing, a willingness to invest “sweat-equity” labor in the construction or renovation of their houses, and the ability to repay no-profit mortgages.

Greater Southeast Regional Sales Executive Gary Royal represented Bank of America at the dedication ceremony. He said, “Through our partnerships with non-profits including Habitat for Humanity, we’re supporting the recovery of neighborhoods and communities that, like this one, have been impacted by the severe economic downturn that has increased foreclosures and property abandonment.”

A 25-year partnership

Throughout a 25-year partnership with Habitat for Humanity, Bank of America has donated funds for tools and materials, and employee volunteers have contributed more than 30,000 volunteer hours to rehabilitate and build homes. The Bank of America Charitable Foundation has contributed more than $22 million to Habitat’s work around the world.

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