How to Improve Affordable Housing

From now through November 1, Fannie Mae will be accepting ideas for affordable housing through the Innovation Challenge, part of Fannie Mae’s Sustainable Communities Initiative.

The Innovation Challenge a two-year, $10 million commitment to source new ideas through entering into contracts for services by reaching outside of Fannie Mae and their traditional partners.

“At Fannie Mae, we are committed to increasing access to healthy, affordable housing,” said Fannie Mae’s EVP and Head of Multifamily Jeffery Hayward. “The Innovation Challenge addresses the evolving needs of homebuyers, homeowners, and renters where they overlap with health and wellness issues. Access to affordable homes that keep residents safe and healthy is a critical industry issue, and one that requires us to look at how housing and health impact each other in order to find the best solutions.”

“We recognize the value in breaking down silos to work with new partners on issues that are inextricably linked to affordable housing in order to create comprehensive solutions,” said Fannie Mae’s VP of Sustainable Communities Maria Evans. “We are fostering sustainable communities by incubating innovative ideas that directly address our mission to bring affordability and stability to underserved areas and help ensure those residents have access to healthy, affordable, safe places to call home.”

For additional support, Fannie Mae “The Challenge: Healthy Affordable Housing,” has assembled an Expert Advisory Panel, composed of experts in affordable housing, health, and innovation, and represents the public, private, and nonprofit sectors.

“The Fannie Mae Challenge will provide real–world examples of innovations in housing and health to help families flourish,” said Dr. Kelly Kelleher, Nationwide Children’s Hospital.

For those that would like to respond to The Challenge, Fannie Mae asks that respondents respond to one of the three following statements.

1. How might we use innovative technology and design to improve affordable homes in order to better support health, promote overall wellness or prevent disease and illness?
2. How might finance vehicles be leveraged to incentivize the creation of affordable homes that promote health and wellness?
3. How might we foster design that promotes diverse, sustainable, multigenerational affordable communities in which all individuals can remain a vibrant part of their community through every stage of life?

For more information and to learn how to respond, click here. Fannie Mae will be accepting ideas through November 1, 2018 at 5:00 p.m. PT.