Ivory Prize Areas of Focus
The housing industry faces a wide range of challenges and we believe that there is no one-size-fits-all solution for housing affordability. Each year, we award Ivory Prize winners from each of our areas of focus - these organizations comprise a portfolio of solutions as diverse and varied as the problem they are intended to solve.
Finance
The last great innovation in housing finance in the United States was the modern 30-year mortgage in 1957. New tools are needed as the next generationof homeowners faces a unique set of constraints, ranging from higher personal debt and a growing number of careers with regular job changes to a longer timeline for family formation, and rapid urbanization. The Ivory Prize recognizes that new financial contracts must be negotiated to provide this generation the same opportunity to build wealth through home-ownership.
Construction & Design
Innovative construction and design play a critical role in bringing down the cost of housing and improving building performance. The Ivory Prize award focuses on approaches for both new construction and rehabilitation. Participants may advocate the new materials or practices which provide improved efficiency in home building or use. Areas of interest include material production and use sustainability, income generating opportunities such as power generation or mixed-use spaces, and the potential of emerging smart devices and use of data.
Policy & Regulatory Reform
From local building codes and zoning laws to federal materials and appliance standards, the housing space is subject to more regulatory oversight and intervention than virtually any other industry, placing a unique burden on innovators in the housing space. The Ivory Prize recognizes solutions which demonstrate new, scalable, approaches to improve, implement, or increase the effectiveness of housing policy.
Areas of Focus
Our Ivory Prize areas of focus are as follows:
Racial Inequity
Years of systemic oppression have lead to a serious inequality in housing, leaving minorities disproportionately affected by the housing crisis. Redlining, the discriminatory practice of denying loans or other financial services to residents of certain areas, usually based off of ethnicity or race, still poses an issue years after it was made illegal. Ivory Innovations seeks to recognize solutions across all areas of focus that address this inequality, and encourages organizations with diverse leadership to apply for the Prize.
Environmental Sustainability
Building operations and the construction industry account for almost 40% of global energy-related carbon emissions. To improve environmental sustainability and outcomes, many innovators are working on new ideas, methods, materials, and approaches. The Ivory Prize seeks to recognize solutions across all areas of focus that address this issue.
Areas of Consideration
The Ivory Prize also considers impacts within the following areas during the evaluation process: