Roots is a Ivory Innovation Finalist
Hey Roots Investment Community,
Roots Investment Community announced today that we have been selected as a Top 25 finalist for the 2023 Ivory Prize for Housing Affordability, a national award to recognize ambitious, feasible, and scalable solutions to housing affordability. We are honored to be a part of this group of finalists presenting tangible solutions as Americans are increasingly priced out of safe and affordable housing.
“As a commercially motivated, community inspired investment fund our mission at Roots to deliver excellent investment returns while making a significantly positive impact on the community,” said Daniel Dorfman, Co-Founder of Roots. “Being listed as an Ivory Prize finalist demonstrates the importance of the model we created where residents who rent our properties are able to build wealth side by side with other investors, empowering them to Own While They Rent™ starting from the day they move in.”
The 2023 Top 10 Ivory Prize Finalists will be announced in April, and the final Ivory Prize Winners will be announced in May. $300,000 in prize money will be distributed between at least three winners selected across the three award categories — construction and design, public policy and regulatory reform, and finance.
Roots Residents who “Live In It Like You Own It”™ not only get to invest their rental deposit in the fund with all other investors, but they also earn rental rebates adding between $600 and $1200 per year in additional wealth to their Roots account. Resident typically have an average of $2,300 in their wealth growth account in just one year and between $7,500 and $10,000 in five years. Roots also gives everyone the opportunity to invest in real estate, including non-accredited people who would otherwise never be able to accrue wealth through real estate investment opportunities.
“We’re honored to be listed alongside some very innovative companies changing the landscape across the U.S. We look forward to continuing to battle the housing affordability and the wealth gap challenges with the work we’re doing at Roots,” said Dorfman. This year’s Top 25 finalists can be found here.
About Roots Investment Community
Roots is a privately held Real Estate Investment portfolio that allows its residents to build wealth by allowing them to “Own While You Rent”™. Residents can invest their rental deposit directly into the Roots Fund and earn rental rebates for under the “Live in it Like you Own It”® program that are invested in their fund account as well. The Residents are invested alongside other non-accredited and accredited investors in a REIT that includes the very homes in which they live.
About Ivory Innovations
Ivory Innovations is dedicated to catalyzing innovative solutions in housing affordability. Utilizing its network and resources, Ivory Innovations promotes the most compelling ideas in housing affordability, working across sectors and providing monetary awards with the Ivory Prize for Housing Affordability. Additionally, in partnership with the David Eccles School of Business at the University of Utah, Ivory Innovations places students at the center of its efforts, through Hack-A-House – an annual entrepreneurial competition – as well as scholarships, a course on housing innovation, and internships that place students at the core of the Ivory Prize search. For more information about the Ivory Prize and Ivory Innovations, visit www.ivoryinnovations.org.