Wells Fargo and Affordable Housing Alliance Celebrate the Opening of First Modular Home for Sandy-impacted Homeowners

Wells Fargo, Affordable Housing Alliance (AHA), and a collaboration of nonprofit and for profit specialists will celebrate the opening of AHA’s first modular home -- the Bayshore Bungalow Program™ home. AHA’s Housing Recovery Resource Center assists in the process of reconstruction and helps Sandy-impacted homeowners with purchasing new modular homes.

Additionally, Wells Fargo will present a $125,000 Foundation grant to AHA’s leadership team.

WHEN: June 11th, 2PM

WHAT: The Affordable Housing Alliance will reveal its first Bayshore Bungalow Program™ home in Union Beach, NJ. This Priority Market Open House will showcase the first of 15 modular homes in Monmouth County. Staff at the Affordable Housing Alliance, along with their partners, has worked to develop turn-key, cost-effective, well-constructed housing to those whose homes were affected by Sandy and in doing so return the equity to the homeowners. The success of this project would not be possible without our dedicated partners: Wells Fargo Housing Foundation, NeighborWorks® Capital, Rebuilding Together®, Pro Bono® Partnership, Hurricane Sandy NJ Relief Fund, Robin Hood Foundation, Statewide Custom Modular Homes, St. Bernard Project and Next Step®.

WHERE: 614 Bayview Avenue Union Beach, NJ 07735

WHO:

Donna Blaze, CEO, Affordable Housing Alliance

Brenda Ross-Dulan, Southern New Jersey Region President, Wells Fargo

Keith Getter, NeighborWorks® America

Union Beach Mayor Paul Smith

Dave Suttles, homeowner

The Bayshore Bungalow Program™ consists of five modular home models, all of which meet the requirements of the State of New Jersey Building Code and the State of New Jersey Rehabilitation, Reconstruction, Elevation, and Mitigation (RREM) Program. The price of each home includes: architectural designs, permits, construction of the home, and certificate of occupancy. The Affordable Housing Alliance is one of the few organizations providing turn-key pricing. The goal of the Bayshore Bungalow Program™ is to return residents to a pre-storm equity position, return them to their community, and restore affordable housing stock to Monmouth County. United States Department of Housing and Urban Development (HUD)-certified housing counseling staff at AHA’s new Housing Recovery Resource Center will assist homeowners in navigating this process. For more information on the Bayshore Bungalow Program, please go to: www.bayshorebungalow.com.

Since 1993, the Wells Fargo Housing Foundation has awarded nearly $300 million to nonprofits in support of affordable housing and community revitalization programs. Additionally, Wells Fargo team members have contributed 4.7 million volunteer hours to build and rehabilitate more than 5,000 homes.

The Wells Fargo Housing Foundation Priority Markets Program grant recipients are nonprofits actively involved and experienced in community revitalization efforts and were selected from requests submitted by local team members and nonprofits Wells Fargo identified as being in need of extra help with large-scale neighborhood revitalization projects. Priority Markets Program grants can be used for any costs associated with the development or redevelopment of the project. Recipients must be IRS 501c3 organizations with successful histories of building or renovating housing for low-to moderate-income homebuyers.

About Affordable Housing Alliance

Since 1991, AHA has been improving the quality of life for NJ residents by developing and preserving affordable housing, providing services to maintain affordable housing, providing housing education, and helping communities meet their legal and moral housing obligations. AHA is the leading housing provider in Monmouth County, NJ and serves the state with a mix of utility, education and counseling services. Throughout its history, AHA has successfully developed hundreds of units of new, affordable single family homes, group homes, multi-unit rental housing, and rehabilitated housing. AHA provides foreclosure counseling and new homebuyer education. The Alliance also serves as an administrative agent in twelve Monmouth County, NJ communities. Immediately after Hurricane Sandy struck, AHA received significant disaster relief funding and was able to expand its infrastructure, build capacity and streamline processes to quickly aid affected NJ residents. http://www.affordablehousingalliance.com

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.