The Housing Lab and Wells Fargo Partner
to Support Innovative Solutions
for Housing Affordability, Equity, and Sustainability

Berkeley, CA - February 22, 2022 -  Terner Housing Innovation Labs announced today that it has entered into a three-year partnership with Wells Fargo to support solutions at the intersection of housing affordability, equity, and sustainability. 

This partnership will help the Housing Lab - Terner’s accelerator program - continue to support  housing affordability and equity innovations, while adding a focus on the planet. Environmental sustainability broadly includes carbon reduction, materials innovations, and building for climate resilience. 

“People in need of more affordable housing are often the same people at highest risk of the adverse impacts of climate change,” says Michelle Boyd, Chief Strategy Officer and Housing Lab Director. “Yet many housing innovators prioritize affordability and equity or environmental sustainability. We are looking to identify and accelerate the work of organizations that are trying to combine these goals.”

Each year, The Housing Lab selects four to six of the strongest business and nonprofit applicants. Selected organizations receive $50,000 - $100,000 in seed money, six months of intensive coaching with national thought-leaders in housing innovation and entrepreneurship, and technical support to assist them as they navigate the complex regulatory and policy requirements that impact the housing industry. 

Founded in 2019 as part of UC Berkeley’s Terner Center, the Housing Lab has boosted a dozen for profit and nonprofit organizations with creative approaches to housing affordability and equity.  Past ventures have included venture-backed companies, housing developers, nonprofits, and spinoffs or programs of existing organizations, tackling everything from predatory home lending practices to housing formerly incarcerated individuals. Since starting work with The Housing Lab, ventures have raised $318 million and improved outcomes for over 23,000 people looking to find affordable housing, build credit, or pay a mortgage. Several alumni have secured significant government partnerships and advanced policy change. 

“We need bold housing solutions that benefit people and the planet.” says John Moon, Vice President Climate Aligned Philanthropy at Wells Fargo. “We are excited to partner with the Housing Lab to find and support early-stage ventures working towards these goals.”

Interested ventures can apply by visiting housinglab.co/apply. The final deadline is March 30th, 2022.* 

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About The Housing Lab

The Housing Lab, founded in 2019, is a program of Terner Housing Innovation Labs, the sister 501(c)3 nonprofit associated with Terner Center for Housing Innovation at U.C. Berkeley. With a mission to identify and accelerate early-stage ventures with the potential to make housing more affordable and fair, The Housing Lab is the first national innovation lab focused exclusively on lowering the cost of housing. 

*While the application window formally closes at midnight PT, Wednesday, March 30th, if an applicant needs a couple additional days, please email housinglab@ternerlabs.org.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. 


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Media Contacts


Michelle Boyd

Director, The Housing Lab

michelle.boyd@ternerlabs.org


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