Celebrating over 25 years of innovation and leadership
Building strong communities is an enduring commitment at Bank of America. For over 25 years, the Low Income Housing Challenge has helped drive innovation and commitment among college students, and empowered new generations of affordable housing leaders.
HOW IT WORKS
Students form teams and enlist an academic advisor and developer sponsor. They work together to create a forward-looking, and feasible project that addresses all aspects of an affordable-housing development, including community needs, building design and financing. Students participate in education and feedback sessions, and present their final projects to a jury with expertise ranging from affordable-housing development to architecture and finance. Finalists will present their projects in person. The winner will be announced during an award ceremony in the spring.
WHO IS ELIGIBLE?
The Challenge is open to undergraduate and graduate student teams with an interest in real estate development, finance, architecture, planning, and community development.
BENEFITING STUDENTS AND COMMUNITIES
Students work with professionals in their chosen field. They earn academic credit (if applicable) and learn how to make a difference in people's lives. Finalists attend an awards celebration where they can engage and interact with industry leaders and network with like-minded peers.
The Challenge represents our ongoing commitment to drive meaningful change in low-income communities. For years 2005 – 2017, Bank of America financed approximately 210,000 housing units, through the debt and equity platforms, of which over 175,000 were affordable housing units.
2020 CHALLENGE DATES
|January 23||Program Registration|
|January 28||Introductory Session – 1 hour|
|February TBD||Finance Session – 2 hours|
|February 18||Initial Proposal|
|February 21||Notification of Acceptance of Proposal|
|Feb 24 – Feb 28||Proposal Feedback Sessions – 2 Hours|
|March 11||Draft Financing Plan|
|March 12 – April 9||Review of Draft Financing Plan - 1 Hour|
|April 16||Written Submission for Regional Competition (if necessary)|
|April 23||Oral Presentation (if necessary) - in person at regional site or via conference call|
|April 24||Notification of Acceptance for Final Competition (if necessary)|
|May 7||Written Submission for Final Competition|
|May 11||Multimedia Presentation|
|May 13 or 14||Oral Presentation and Celebratory Event - San Francisco, California|