At a time when affordable housing financing sources are limited and development costs are under scrutiny, Deutsche Bank and Enterprise Community Partners, Inc., have launched a competition to address the issue of lowering costs.
The national competition will award up to $250,000 in program-related investment to the winning proposal.
Deutsche Bank Americas Foundation is also providing an additional $50,000 in grant funds to be awarded to proposals that show innovation in the area of lowering costs or further the best research in this area.
The competition is seeking submissions from multidisciplinary teams that are creating multifamily affordable housing projects that improve neighborhoods and reduce traditional development and building costs.
UPSTATE: A Center for Design, Research, and Real Estate at Syracuse University School of Architecture is coordinating the competition.
Proposals are due Jan. 15, 2013. Submissions must be projects that can be completed by December 2014. Competition materials are available at www.loweringcost.com.