Celebrating over 25 years of innovation and leadership
Building strong communities is an enduring commitment at Bank of America Merrill Lynch. 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.
2019 CHALLENGE DATES
|January 24||Program Registration|
|January 29||Introductory Session – 1 hour|
|February 8||Finance Session – 2 hours|
|February 19||Initial Proposal|
|February 22||Notification of Acceptance of Proposal|
|Feb 25 – Mar 1||Proposal Feedback Sessions – 2 Hours|
|March 13||Draft Financing Plan|
|March 15 – 29||Review of Draft Financing Plan - 1 Hour|
|April 18||Written Submission for Regional Competition (if necessary)|
|April 24||Oral Presentation (if necessary) - in person at regional site or via conference call|
|April 25||Notification of Acceptance for Final Competition (if necessary)|
|May 9||Written Submission for Final Competition|
|May 13||Multimedia Presentation|
|May 14, 15 or 16||Oral Presentation and Celebratory Event - San Francisco, California|