Habitat for Humanity Greater San Francisco and Habitat for Humanity East Bay said Tuesday that they received a $975,000 grant from Wells Fargo, the single largest corporate gift in the two nonprofits’ history.
The money will be used to build, repair and rehabilitate affordable housing for low-income families in markets hard hit by foreclosures, the Bay Area nonprofits said.
San Francisco-based Wells Fargo (NYSE: WFC) is supporting Habitat for Humanity organizations across the country to promote affordable housing.
In the Bay Area, Wells Fargo employees will donate some 1,450 volunteer hours to the region’s two Habitat organizations. The grants are being made through the bank’s Wells Fargo Housing Foundation.
“Wells Fargo has supported Habitat’s affordable housing work for nearly 20 years,” said Tracy Curtis, president of Wells Fargo’s San Francisco market.
Habitat’s launch of the Neighborhood Revitalization Initiative (NRI) in San Francisco, partnering with Rebuilding Together San Francisco, will focus on San Francisco’s Bayview neighborhood and will rehabilitate and renovate 50 community facilities and 200 homes in San Francisco and the Peninsula by 2020.
Habitat East Bay launched its program in Bay Point in Contra Costa County, with plans to eventually expand into other East Bay communities.
Habitat for Humanity Greater San Francisco, operating in one of the nation’s most challenging areas when it comes to affordable housing, has helped more than 160 families purchase homes since 1989.
Habitat for Humanity East Bay, founded in 1988, is the largest Habitat affiliate in Northern California. Habitat for Humanity East Bay has built 300 homes locally.