The Next Horizon

Tammy Neale:

The housing shortage in the United States is massive. Fundamentally, all of us need a place to call home, to grow, a place to put your head down at night. We have to get it right.

[TITLE CARD: The Housing SOLUTION]

Tammy Neale:

Our mission at Virginia Housing is to help...

[TITLE CARD: Tammy Neale, CEO, Virginia Housing]

Tammy Neale:

...Virginians attain quality, affordable housing. It’s going to take...

[Aerial view of a modern city skyline during sunset, showing multiple high-rise office buildings and streets below. Overlaid text appears across the buildings, illustrating employment needs as part of a dramatization emphasizing future employment needs.]

[Graphic/text displayed on screen: Staff needed, Vacancies, Now hiring, Apply here, 1,500 workers needed, 500 workers needed, 900 staff required, 1,750 staff required, 3,000 staff required, 150 staff required, 250 staff required, 22,276 staff required, *Dramatization]

Tammy Neale:

...350,000 new workers to fulfill the employment needs of Virginia over the next 10 years. That equates...

[GRAPHIC: 2025 Virginia Housing Properties – locations on map of Virginia]

Tammy Neale:

...to approximately 200,000 homes. It’s not if, it’s how. Having a partner that is consistent, that we can rely upon is so important.

[TITLE CARD: Rebecca Reape, Managing Director, Wells Fargo Corporate & Investment Banking]

Rebecca Reape:

Wells Fargo has a truly robust platform for affordable housing. We cover state and local housing finance agencies within our public finance team, and there are numerous areas across the firm that also have affordable housing in their mission. We are able to bring our nationwide expertise to Virginia Housing. And we’ve worked together raising money in the capital markets for over two decades.

Tammy Neale:

They’ve worked with us with interest rate hedging, liquidity and bond originations.

Rebecca Reape:

At Wells Fargo, we always bring a full-firm approach to our clients. We’ve become a trusted advisor.

Tammy Neale:

With Wells Fargo, they’re willing to come to the table with us and think through ideas that we have. And it enables us to try and test things that some organizations frankly can't do, like the Workforce Housing Investment Program for middle-income Virginians, the FirstHome Dream Program, which provides a 2% discounted interest rate for first-generation home buyers, and grants for innovative housing ideas.

Rebecca Reape:

With Virginia Housing leading the charge, we can continue to improve life here in Virginia. We’re putting people into homes, and we know that their lives will be transformed for the better.

Tammy Neale:

To hear residents talk about how having a bedroom for their children to sleep in made all the difference. It’s not just bricks and sticks. Together we’re serving the community. We’re serving businesses when they want to come to the Commonwealth. We’re serving the future of Virginia.

Close with music

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Sponsored by Wells Fargo Corporate & Investment Banking

The Next Horizon

Virginia Housing

bloomberg.com/thenexthorizon

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