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Utah Homebuilder Announces National Prize for Innovations in Affordable Homeownership

Published on September 18, 2018 by Glenn Gallo
Utah Homebuilder Announces National Prize for Innovations in Affordable Homeownership

Ivory Homes, the largest homebuilder in Utah, Tuesday announced it is holding a national contest to reward innovators who are working to alleviate the affordable housing crisis. The Ivory Prize in Housing Affordability will recognize solutions to the affordability crunch that are the most “ambitious, scalable, and innovative.”

The Ivory Prize has three categories; at least one winner will be chosen for each one. The three categories are Construction/Design (for new and/or rehabilitated homes), Regulatory Reform, and Finance. Emphasis will be placed on submissions that provide a pathway to homeownership, which can include both single-family and multifamily housing.

Workshops for the finalists and recipients of the Ivory Prize will be held to publicize the impact the projects have had on housing affordability. Finalists and recipients will also be invited to take part in the University of Utah’s Sorensen Winter Innovation Summit in February 2019. Each winning entry will receive an award between $50,000 and $100,000.

Private-sector organizations, non-profit organizations, and public-private partnerships are eligible to apply.

The application process will be held in two phases. During the first phase, applicants are encouraged to submit a brief description of the project. After initial review, applicants will then be asked to submit a more in-depth analysis of the project. Applicants are encouraged to submit their initial nominations by November 15. The final deadline for submissions is December 15. Ivory Homes will announce the finalists in each category on February 7, with the winners announced in March. For more information and to apply for the Ivory Prize, please click here.