Building strong communities is an enduring commitment at Bank of America. For over 30 years, the Affordable 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 to the jury. 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 and gain an understanding of how to the design and finance an affordable housing development. They may earn academic credit (if applicable) and learn how to make a difference in people's lives. Students have opportunities to engage with industry leaders and network with like-minded peers. Finalists’ projects are showcased at an awards reception where the winner will be recognized.
The Challenge represents our ongoing commitment to drive meaningful change in low-income communities. For years 2005 – 2023, Bank of America financed approximately 287,000 affordable housing units, through the debt and equity platforms.
2025 Challenge dates
| January 21 by noon PT | Registration: Deadline |
| January 22 at 12:30pm PT | Introductory Session – 1 hour |
| January 23 10:00 am PT | Finance Session 1 – 2 hours |
| January 30 at noon PT | Finance Session 2 – 1 ½ hours |
| February 12 | Submit Initial Proposal |
| February 14 | Notification of Acceptance of Proposal |
| February 18 to February 21 | Proposal Feedback Session – 45 minute session |
| March 10 by noon PT | Submit Refined Proposal for Second Feedback Session |
| March 17 to 21 | Second Feedback Session – 45-minute session |
| March 24 | Notification of Acceptance to Final Competition: |
| March 25 to April 4 | Submit Draft Financing Plan to Lender/Investor: |
| March 26 to April 17 | Review of Draft Financing Plan with Lender/Investor – 1 Hour |
| April 21 by noon PT | Submit Proposal for Final Competition |
| April 24 | Final Competition and [Virtual] Reception / Announcement of Winner |
dates subject to change.