City’s Edge Receives Contribution From Wells Fargo

Burlington, VT – The new City’s Edge Condominiums in South Burlington just received a major boost, thanks to a contribution from Wells Fargo Housing Foundation. City’s Edge is a model for the production of affordable homes-for-sale built by the Burlington Community Land Trust. Cheryl Roberts, regional emerging markets manager of the Wells Fargo Home Mortgage, presented a $10,000 check to Brenda Torpy of the Burlington Community Land Trust, to contribute to the production and sale of City’s Edge Condominiums.

Expected to be completed in spring 2005, City’s Edge Condominiums will create a mixed income homeownership development consisting of 60 condominiums in a highly desirable South Burlington neighborhood.

"Wells Fargo Home Mortgage is committed to giving back to the communities where our customers, staff, and business partners live and work," said Roberts. Wells Fargo Home Mortgage opened its first Vermont office in 2003. "Through the Wells Fargo Housing Foundation, we are pleased to launch new local partnerships to create affordable housing in northwest Vermont," added Roberts.

Brenda Torpy, executive director of the Burlington Community Land Trust, said, "Chittenden County home prices remain very high in Chittenden County and the numbers of homes on the market are not sufficient to meet the demand." Torpy noted, "Projects like these begin to address the problem and partners like Wells Fargo Housing Foundation are greatly appreciated."

Celebrating its 20th anniversary, Burlington Community Land Trust is a grassroots organization whose goal is to ensure access to affordable homes and vital communities through the democratic stewardship of land. More than 1,000 families and individuals have benefited from BCLT’s affordable housing programs.

About Wells Fargo - The Wells Fargo Housing Foundation is a program of the Wells Fargo Foundation and represents the philanthropic arm of Wells Fargo Home Mortgage. Wells Fargo Home Mortgage, headquartered in Des Moines, Iowa, is a leading originator and servicer of residential mortgages. A subsidiary of Wells Fargo & Company (NYSE:WFC), Wells Fargo Home Mortgage serves all 50 states through the leading mortgage lending network in the country, with a presence in more than 1,900 mortgage and Wells Fargo bank stores and on the Internet. Combined, its retail and wholesale lending operations provided funding for approximately one of every eight homes financed in the United States in 2003.*

* Market data based on 2002 Home Mortgage Disclosure Act (HMDA) reports, the most recent data available

print this page | close window