Community Development Banking Impact
Get an inside look at some of the meaningful work done across the nation.
What we do
We proudly support vibrant neighborhoods like yours by providing loans, investments and services for low- and moderate-income families and communities across the U.S.
Featured projects
Mary Bethune Apartments
Tampa, FL
- $18.4 million: Construction loan
- 160: Units in the building
- 100%: Share of units that will be affordable to individuals making 60% AMI
We provided construction financing to support a substantial renovation of 160 income-restricted apartments designed for senior residents. The project secured long-term rental assistance from the Tampa Housing Authority to keep units affordable while adding amenities including emergency nurse call systems, secure entry, a fitness center, a theater and a community center.
Woodside Mill
Greenville, SC
- $7.9 million: Federal HTC equity investment
- 307: Loft apartment units
- 1903: Year the mill was constructed
We provided Federal HTC equity to support the adaptive reuse project of what was once the world’s largest textile mill under one roof. The LEED Gold–certified rehab will transform the space into workforce housing units, plus amenities including an outdoor pool, event and banquet space with conference rooms, and an on-site brew pub.
Flex-N-Gate
Chicago, IL
- $15M: New Markets Tax Credit-qualified equity investments from J.P. Morgan
- 566: New full-time jobs created for residents of low-income communities
- 290K sq. ft.: Size of the manufacturing facility
This project finances costs to develop and operate a new manufacturing facility, creating hundreds of new jobs for residents of low-income communities.
The people behind Community Development Banking’s investments
Financial value and social impact go hand in hand. That’s why we’re so proud of our work that makes a tangible difference in people’s lives, whether it’s through affordable homes, job training or other critical community services.
1457 North Main Street
Los Angeles, CA
$68.5M: Construction loan provided by the J.P. Morgan Workforce Housing Solutions team
$0: Amount of project financing coming from Low-Income Housing Tax Credit (LIHTC) equity or traditional subsidies
42: Number of units for extremely low-income residents, restricted up to 30% AMI
Located in LA’s Chinatown neighborhood, this project creates a 376-unit fully rent- and income-restricted workforce housing property, with 334 units restricted up to 80% Area Median Income (AMI).
Brooklyn Navy Yard-Building 127
Brooklyn, NY
$10M: Federal and state Historic Tax Credit (HTC) equity contributed by J.P. Morgan
1801: Year the historic campus was established
100K sq. ft.: Size of the industrial building
This project renovates an industrial building—which is listed on the National Register of Historic Places—into functional light manufacturing and creative office space.
Coolidge Park Apartments
Flint, MI
$9.4 million: Construction loan
54: Units in the building
93%: Of units are affordable for individuals making 60% of the Area Median Income (AMI)
We provided a construction loan to support the renovation of a historic vacant school and new construction of apartments and commercial space. The updated property includes one- and three-bedroom units, plus amenities such as a playground, picnic area, computer room and basketball court.
Judith and Thomas L. Beckmen YOLA Center
Inglewood, CA
$23 million: NMTC qualified equity investments from J.P. Morgan
18,000 sq. ft.: 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.
The Life at Grand Oaks
Houston, TX
$45 million: Fannie Mae MTEB loan originated by J.P. Morgan
556: Affordable apartment units
100%: Of the units will be affordable to individuals making 60% AMI
We provided a taxable construction loan and originated a Fannie Mae Multifamily Tax-Exempt Bond (MTEB) permanent loan for the rehabilitation and preservation of 556 affordable housing units at The Life at Grand Oaks. The newly renovated one- and two-bedroom units include a new washer and dryer, and the premises added security cameras, lights and patrols. These renovations and added services will provide a significant benefit to the community.
Palmer Square Apartments
Chicago, IL
10-year: Refinance loan
$14 million: Fannie Mae refinance loan originated by J.P. Morgan
160: Apartment units
We provided a Fannie-Mae backed refinance loan for Palmer Square Apartments, which consists of six three- and four-story buildings with 160 units. Sixty-four of the units are affordable to individuals making 60% AMI.
State Tower
Syracuse, NY
$9.9 million: Federal and New York State HTC equity investment
51: Apartment units in the new space
110,000 sq. ft.: Of commercial space in the building
We made Federal and New York State HTC equity investments to support the historic rehabilitation of the State Tower building in downtown Syracuse. The project converted the former office building into apartments and commercial space.
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