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Community Development Banking Impact
Get an inside look at some of the meaningful work we’ve done in communities like yours.
Our Projects
Our Community Development Banking business is proud to support vibrant and diverse neighborhoods like yours by providing loans, investments and services for low- and moderate-income families and communities across the US.
Freedom’s Path II
Hines, IL
$13.26 million: Construction loan
52: Units in the newly constructed building
100%: Of units house individuals with incomes at or below 60 percent of the area median income (AMI), with priority placement for homeless, disabled or at-risk veterans
We provided a construction-to-permanent loan to support the development of this new facility, which offers housing at guaranteed rates to low-income residents—particularly veterans who are homeless or disabled—as well as on-site supportive services provided by Veterans Affairs.
Jordan Downs
Los Angeles, CA
$14 million: New Markets Tax Credit equity investment
120,000: Retail center square footage
100%: Of units house individuals with incomes restricted to 30-60 percent of the AMI
Our NMTC equity investment, along with a $14 million construction loan, helped support the development of 115 affordable housing units in the Jordan Downs community of LA. The project is part of a five-phase masterplan and provides much-needed commercial space—including a grocery store, gym and retail shops—as well as more than 300 new permanent and construction jobs for area residents.
Judith and Thomas L. Beckmen YOLA Center
Inglewood, CA
$23 million: New Markets Tax Credit Qualified Equity Investments from Chase
18,000 square feet: Size of the existing building to be rehabilitated
500: Students served with new facility, in addition to the 1,350 currently involved in the program
Our relationship with the LA Phil will help transform an existing building into a music education venue and hub for YOLA (Youth Orchestra Los Angeles) programming for low-income youth from Inglewood and Los Angeles. The new center will expand the program’s reach and create living-wage jobs for local residents.
Kalorama Family Apartments
Ventura, CA
7 years: Length of fixed-rate loan
$1.5 million: Amount of loan originated by Chase
24: Apartment units
Working closely with the Cabrillo Economic Development Corporation, Chase helped provide financing for property upgrades and other strategic initiatives on this garden-style complex with one- and two-bedroom units. Most units are restricted to renters earning less than 60 percent of AMI.
Nubia Square Family Apartments
Houston, TX
10 years: Length of fixed-rate loan
$3 million: Refinance amount
192: Apartment units
The Neighborhood Recovery Community Development Corporation became full owners of the Nubia apartments in 2008. They used excess proceeds from the building refinance for property upgrades, programming and other strategic initiatives. The property was built in 1972 and renovated in 1994, 2008 and 2018.
Mistletoe Station
Fort Worth, TX
$22 million: Construction loan provided by Chase
110: Newly constructed affordable and market-rate rental units
67%: Units set aside for affordable housing
In Fort Worth’s vibrant Near Southside District, which includes the city’s Medical District, Chase provided financing for mixed-income rental units—helping provide affordable options in an area with high market-rate rents. Given the building’s proximity to hospitals, many residents in the affordable housing units are healthcare workers and hospital support staff.
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