[{"id":9,"title":"View Our Recent Participant Q&A Webinar","date":"Apr 17, 2019","author":"Reconstruct Challenge","category":"News","image":"img/stats/2.jpg","description":"Webinar participants asked questions and learned more about the Reconstruct Challenge.","content":"\n\t\n\t\n\t\n\n

Reconstruct Challenge: Participant Q&A Webinar  
Wed, April 17, 2019

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Webinar participants asked questions and learn more about the Reconstruct Challenge.

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View the recorded webinar here:  
https://youtu.be/z3PVHJ9NRt8

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If you have any further questions about the challenge,
please email questions@reconstructchallenge.com.

\n\n\t\n","contentTwo":"\r\n \r\n \r\n","contentThree":"\r\n \r\n \r\n","newsQuote":""},{"id":3,"title":"Update: Added Evaluation Panel Members","date":"Feb 20, 2019","author":"Reconstruct Challenge","category":"News","image":"image/news/judgeupdate2.png","description":"We’re excited to announce more evaluation panel and selection committee members!","content":"\n\t\n\t\n\t\n\t\t

We’re excited to announce more evaluation panel and selection committee members! As a part of making this challenge national in scope but also geographically rooted, our evaluators are a mix of local and national experts from a wide range of backgrounds and experience.

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Today we welcome:

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After the application deadline, June 4th, applications will go to members of the evaluation panel to be scored and given feedback. From there the top 10-12 finalists will pitch at a live event in Louisville on August 28th in front of our selection committee.

\n\t\n","contentTwo":"\n\t\n\t\n\t\n\n\n\n\t\n","contentThree":"\n\t\n\t\n\n\n\n\t\n","newsQuote":"Applications will go to members of the evaluation panel to be scored and given feedback."},{"id":2,"title":"Update: Added Evaluation Panel Members ","date":"Feb 13, 2019","author":"Reconstruct Challenge","category":"News","image":"image/news/judgesupdate.png","description":"We’re excited to announce more evaluation panel members! As a part of making this challenge national in scope but also geographically rooted, our evaluators are a mix of local and national experts from a wide range of backgrounds and experience.","content":"\n\t\n\t\n\t\n\n

We’re excited to announce more evaluation panel members! As a part of making this challenge national in scope but also geographically rooted, our evaluators are a mix of local and national experts from a wide range of backgrounds and experience.

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Today we welcome:

\n\n\n\nOur evaluators are a mix of local and national experts from a wide range of backgrounds and experience \n\n

After the application deadline, June 4th, applications will go to members of the evaluation panel to be scored and given feedback. From there the top 10-12 finalists will pitch at a live event in Louisville on August 28th in front of our selection committee.

\n\n\t\n","contentTwo":"\n\t\n\t\n\t\n","contentThree":"\n\t\n\t\n\t\n","newsQuote":""},{"id":5,"title":"Louisville Firm Launches Contest to Find Affordable Housing Solutions","date":"Feb 08, 2019","author":"Builder","category":"News","image":"image/news/builder.jpg","description":"Access Ventures, a Louisville, Ky.-based nonprofit investment firm, is putting $3 million into finding novel solutions for additional expenses that contribute to housing instability, reports Amina Elahi for 89.3 WFPL News Louisville.","content":"\n\t\n\t\n\n

Builder writes: Access Ventures, a Louisville, Ky.-based nonprofit investment firm, is putting $3 million into finding novel solutions for additional expenses that contribute to housing instability, reports Amina Elahi for 89.3 WFPL News Louisville.

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The organization's announced the Reconstruct Challenge, a national competition that will award six individuals or groups $300,000 grants to come to the Louisville area and test their idea.

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The recipients will have 18 months to experiment and, depending on the progress, they could receive part of an additional $1 million reserve Access Ventures has set aside to help scale those solutions, said Mallory Sanborn, who oversees the program.

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Read Full Article Here

\n\n\t\n","contentTwo":"\n\t\n\t\n\n\n\n\t\n","contentThree":"\n\t\n\t\n\t\n\n\n\n\t\n","newsQuote":""},{"id":4,"title":"Louisville Firm Launches Contest To Find Affordable Housing Solutions","date":"Feb 05, 2019","author":"WKU","category":"News","image":"image/news/wku.jpg","description":"Rent is not the only factor in making affordable housing truly affordable. There are all sorts of related costs, from monthly bus passes to decent groceries to reliable childcare.","content":"\n\t\n\t\n\n

WKU Writes: Rent is not the only factor in making affordable housing truly affordable. There are all sorts of related costs, from monthly bus passes to decent groceries to reliable childcare.

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Access Ventures, a Louisville-based nonprofit investment firm, is putting $3 million into finding novel solutions for additional expenses that contribute to housing instability. On Monday, the organization announced the Reconstruct Challenge, a national competition that will award six individuals or groups $300,000 grants to come to the Louisville area and test their idea.

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The recipients will have 18 months to experiment and, depending on the progress, they could receive part of an additional $1 million reserve Access Ventures has set aside to help scale those solutions, said Mallory Sanborn, who oversees the program.

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With an eviction rate that is nearly double the national average and a dearth of affordable units across the city, Louisville is a great place to test these kinds of solutions, Sanborn said.

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“It is a big problem here, so if there’s a solution that works here, it’s possible that it would work in Austin, Texas, or Chicago,” she said.

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Sanborn sees the challenge as an opportunity to try out new ideas, rather than trying to implement programs that have worked elsewhere to the Louisville-Southern Indiana region. She described the funding as risk capital, a term often used in venture capital investing.

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But while venture capitalists are often interested in high-tech innovations or fast-growing startups, Sanborn said Access Ventures is more concerned with finding ways to lower costs for low income families, no matter how simple.

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She offered the example of a principal-first mortgage, through which a person with bad credit could get a character-based mortgage. That person could then pay down the principal and build up credit before applying for a traditional loan from a bank.

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View Full Article Here

\n\n\t\n","newsQuote":"“It is a big problem here, so if there’s a solution that works here, it’s possible that it would work in Austin, Texas, or Chicago.”"},{"id":6,"title":"Access Ventures unveils $3 million challenge for ideas to address housing insecurity","date":"Feb 04, 2019","author":"Insider Louisville","category":"News","image":"image/news/insiderlouisville.png","description":"Local capital investment group Access Ventures launched a $3 million competition on Monday to address housing insecurity in the Louisville area, which will solicit ideas from all over the country.","content":"\n\t\n\t\n\n

Insider Louisville writes: Local capital investment group Access Ventures launched a $3 million competition on Monday to address housing insecurity in the Louisville area, which will solicit ideas from all over the country.

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Instead of a brick-and-mortar solution to the affordable housing crisis that involves constructing or renovating homes, the Reconstruct Challenge is seeking innovations that would lower the ancillary costs of low-income people that make rent or mortgage payments difficult, such as those relating to transportation, food and utilities.

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Citing research from the Eviction Lab at Princeton University, Mallory Sanborn, who leads the BetaLab initiatives around affordable housing for Access Ventures, said Louisville averages 14 evictions per day in 2016, a rate which was double the national average.

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Access Ventures will award $300,000 each to six applicants who pitch plans to reduce such costs that lead to eviction and housing insecurity. After an 18-month proof-of-concept phase, successful innovations can receive some of the remaining $1 million to continue such work on a larger scale or over a longer period of time.

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While the applications can come from all over the country, they must focus on innovations that will be implemented in either Jefferson County or in Clark and Floyd counties in southern Indiana.

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Read the Full Article Here

\n\n\t\n","contentTwo":"\r\n \r\n \r\n","contentThree":"\r\n \r\n \r\n","newsQuote":""},{"id":7,"title":"Fischer announces $3 million competition to solve housing problems in Louisville","date":"Feb 04, 2019","author":"Wave3 News","category":"News","image":"image/news/wave3news.jpg","description":"A new multi-million dollar initiative to help those living without homes in the Louisville community, that’s what Mayor Greg Fischer was on hand to announce Monday afternoon in Shelby Park.","content":"\n\t\n\t\n\t\n\t\t

Wave3 News writes: A new multi-million dollar initiative to help those living without homes in the Louisville community, that’s what Mayor Greg Fischer was on hand to announce Monday afternoon in Shelby Park.

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It’s part of the Reconstruct Challenge, a $3 million dollar prize competition to address housing insecurity challenges and run tests for possible solutions

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Anyone in the country can submit possible solutions for housing, loans, utilities or transportation for testing in Louisville and Southern Indiana.

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“Sometimes… history doesn’t often times knock on the door and say ‘you can make history if you step up and do things like this’,” Fischer said. “But that’s what you guys are doing here in Shelby Park. And the work that you guys are doing too is known all over the country.”

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Read Full Article Here

\n\t\n","contentTwo":"\r\n \r\n \r\n","contentThree":"\r\n \r\n \r\n","newsQuote":""},{"id":8,"title":"Initiative aims to address affordable housing crisis in Southern Indiana","date":"Feb 04, 2019","author":"News and Tribune","category":"News","image":"image/news/newsandtribune.jpg","description":"An initiative that will launch Wednesday seeks to attack the affordable housing crisis in Louisville and Southern Indiana through the funding of innovations developed in a national competition.","content":"\n\t\n\t\n\t\n\t\t

News and Tribune writes: An initiative that will launch Wednesday seeks to attack the affordable housing crisis in Louisville and Southern Indiana through the funding of innovations developed in a national competition.

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The Reconstruct Challenge through Louisville's Access Ventures will grant $300,000 to six innovations that will offer solutions to help lower ancillary costs for people struggling with housing insecurity.

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While the competition is on a national scale, the innovations must be proof-tested in Jefferson County, Ky., or Clark or Floyd counties in Southern Indiana over an 18-month span, with the goal of developing initiatives that would ease the financial burdens associated with affordable housing. 

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What those innovations might look like is to be determined, but examples could include developing a process that would lower utility costs, or creating a financial tool that would allow homeowners to more quickly build equity so they could secure a more traditional loan, according to Mallory Sanborn, an associate at Access Ventures.

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\"We don't really know what's going to happen, but we do know there's a lot of room for innovation,\" Sanborn said Monday during a news conference at Access Ventures' headquarters in Louisville's Shelby Park neighborhood. \"They don't have to be complicated.\"

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Read Full Article Here

\n\t\n","contentTwo":"\r\n \r\n \r\n","contentThree":"\r\n \r\n \r\n","newsQuote":""},{"id":1,"title":"Access Ventures Launches Affordable Housing Gap Program","date":"Jan 31, 2019","author":"Author","category":"News","image":"img/stats/2.jpg","description":"Hidden costs related to transportation, utilities, insurance, food insecurity and more are tied into where a person lives and those hidden costs can often make the difference between housing stability and housing insecurity which leads to evictions.","content":"\n\t\n\t\n\t\n\t\t

Louisville, Ky: Access Ventures is launching a program to to address the housing gap in the United States. In the Louisville and Southern Indiana MSA, we are facing a shortage of 24,000 units of affordable housing for the extremely low income bracket, but affordable housing is more than bricks and mortar or the payment of rent or a mortgage. Hidden costs related to transportation, utilities, insurance, food insecurity and more are tied into where a person lives and those hidden costs can often make the difference between housing stability and housing insecurity which leads to evictions. According to the Eviction Lab at Princeton University, in 2016, there were 14 evictions per day in Louisville – a rate of 4.82% – which is almost double the national average of 2.48%. In 2016 alone, there was a total of over 5,000 evictions in Louisville.

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The Reconstruct Challenge is a $3 million national prize competition granting six innovations with $300,000 each and access to an executive education course. Winners will participate in a 18­month proof­of­concept phase where they will test their innovations in the Louisville and Southern Indiana region. After this period, successful innovations will have the opportunity to receive follow­on capital to further scale. $1 million will be reserved for this purpose. We are focused on finding solutions to help lower the exorbitant ancillary costs for individuals experiencing housing insecurity.

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“We are really excited to launch this challenge because we know that these costs can be the difference between a family staying in their home or being evicted. If we can identify solutions that address these ancillary costs and help test and scale them, we have the potential to impact the affordable housing crisis in a big way and our region has the potential to lead the charge in proving innovations that lead to more stability for low income households.”

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Mallory Sanborn, Access Ventures

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The challenge is open to anyone in the United States as long as the beta test of the innovation takes place in Jefferson County, KY or Floyd and Clark County, IN. The Reconstruct Challenge explicitly does not provide funding for the construction or renovation of housing units. Rather, we want to address those challenges that surround the housing gap, so that we can focus on making housing more affordable with non­traditional solutions.

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Registration/Application Opens: February 6th, 2019 Registration Deadline: May 2nd, 2019  
Application Deadline: June 4th, 2019  
Pitch Event: August 28th, 2019

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For more information on the program please visit reconstructchallenge.com.

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About Access Ventures: Access Ventures is catalyst building a more creative and inclusive economy by changing the way the world invests. Access Ventures exists to open doors that would otherwise be closed. By offering one­pocket investment opportunities and inviting entrepreneurs, creators and investors to share in an active and vibrant vision for their communities, we are all enriched as we build something together. We’re creating a world we all want to live in.

\n\n\t\n","newsQuote":"\"We know these costs can be the difference between a family staying in their home or being evicted.\""}]