Wells Fargo donates $80,000 to Habitat Cabarrus to help more families in Cabarrus County access decent, affordable housing
CONCORD, NC (October 26, 2022) – Habitat for Humanity Cabarrus County (Habitat Cabarrus) is one of more than 230 Habitat for Humanity affiliates organizations awarded a grant from Wells Fargo as part of its nationwide initiative to help low-to-moderate income families construct and improve homes across the country. Habitat Cabarrus will receive $80,000 and use the funding to build four new homes in Cabarrus County, including in the cities of Kannapolis and Concord.
Habitat Cabarrus has built and closed on 176 homes since 1989 and manages the mortgages on 91 of them. Every future homeowner receives extensive financial training to give them the necessary tools to be successful long-term. At least one in every four Cabarrus County households spend over half of their income on housing and the number of Cabarrus County families who are struggling to afford rent is on the rise. Habitat Cabarrus is committed to building five new homes this fiscal year and complete 75 critical repairs to help its county residents move into affordable homes and keep current owner-occupied homes safe and livable.
“This is the second year we have been a recipient of Wells Fargo Builds funding,” said Habitat Cabarrus CEO Bill Shelton. “The Wells Fargo gifts totaling $160,000 not only impacts the lives of our current homeowners, but also the legacy of their families and future generations.”
Wells Fargo team members were on-site Thursday, October 20 volunteering their time on a Habitat home site. They worked side-by-side with the future homeowners in the Habitat program and a group of dedicated weekly volunteers known as “Weekday Warriors.”
The grant is part of a $7.75 million donation Wells Fargo is making to Habitat for Humanity International through Wells Fargo Builds, an initiative that provides philanthropic financial support and volunteerism to create sustainable affordable housing. More than 350 homes will be constructed or repaired with Habitat in over 40 states through the initiative this year. Wells Fargo Builds is part of Wells Fargo’s $1 billion philanthropic commitment to create more housing affordability solutions by 2025.
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