New Story (newstoryhomes.org) is a nonprofit organization dedicated to pioneering solutions that address the global housing crisis by funding and building affordable homes for families in need. Since its founding, New Story has raised over $80 million and has built thousands of homes across Latin America, directly impacting the lives of approximately 20,000 individuals.
In addition to its core mission of constructing affordable housing, New Story launched Hometeam Ventures in 2021, a venture capital fund focused on backing early-stage startups innovating within the construction and housing technology sectors. This initiative reflects New Story's commitment to driving systemic change by supporting advances in housing construction and affordability.
New Story is recognized for its innovative approach to both philanthropy and housing development, graduating from Y Combinator and being a four-time recipient of Fast Company’s Most Innovative Company award. Their work leverages technology, partnerships, and new models of funding to maximize the impact and scalability of affordable homebuilding.
What technology and trends enable New Story's impact?
New Story combines nonprofit fundraising with a focus on innovation in construction, often piloting or supporting new technologies such as 3D-printed homes and process automation for building communities more efficiently and cost-effectively. By investing in and collaborating with housing tech startups through Hometeam Ventures, New Story aims to accelerate broader advancements in affordable housing construction worldwide.
Who benefits from New Story's work?
New Story primarily serves low-income families in Latin America who are living in inadequate or unsafe housing. Their model is designed to provide lasting, dignified solutions by building entire communities with access to essential services. Their broader impact also supports the construction technology ecosystem through investments and partnerships aimed at improving affordability and scalability globally.
Who are New Story's competitors and peers?
New Story operates in the affordable housing nonprofit sector, alongside organizations focused on addressing housing insecurity through various models. Notable competitors and peers include:
- Habitat for Humanity – A global nonprofit helping families build and improve places to call home.
- Mercy Housing – A national nonprofit redefining affordable, low-income housing.
- Community Solutions – Pioneering models to help communities end homelessness.
- Enterprise Community Partners – Focused on increasing housing supply and advancing equity.
- Volunteers of America – Providing affordable housing in urban and rural areas across the U.S.
- SAHF – A collaborative of nonprofits creating healthy, sustainable affordable homes.
- Housing Assistance Council – Supporting affordable housing in rural America.
- Housing Consortium – Strengthening nonprofit housing development.
- AHSF – A nonprofit developer of affordable housing in several U.S. states.
These organizations, like New Story, combine advocacy, development, and innovative partnerships to address affordable housing challenges.
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