[bright music]

Betty Smith:

I have to pinch myself every morning and say, this is home. My, MY home.

[bright music]

Cindy Hamilton:

Philadelphia is the birthplace of the nation, and it is home to iconic sites. But Philadelphia is more than just history. We have great food, thriving arts and culture scene, and very passionate sports fans. Heritage Consulting Group is a national historic preservation consulting firm. We specialize in historic tax credits, and we work with owners of historic buildings to adapt their buildings to modern use. We get to be part of the transformation from vacant and derelict to renewed and reused.

Interviewer:

All right, welcome.

Thomas Queenan:

Good to be here. I was astounded to learn that the waiting list for public housing in Philadelphia right now is up to 65,000 people. You know, we're all doing our best to address what homelessness, what disability, and what affordability, how it really impacts the quality of anyone's experience. And then how do we sort of stop the cycle of that? Mission First Housing Group, we service 6,700 residents. One property is called Mid City Apartments. Several years ago, we started the process of kind of transforming this building from single-room occupancies to more of an apartment building. All the folks who live in this property, Mid City, are or were formerly homeless.

Interviewer:

You ready? You excited?

Betty Smith:

I'm excited.

Interviewer:

It's like big time, right?

Betty Smith:

Yeah. I never did this before.

Interviewer:

You got it.

Betty Smith:

My name is...

[clapper claps]

Betty. I was in a shelter, and it was hard. And I finally got to Mid City. It was a small spot. And the joy... of the renovation is amazing. It's just amazing. It has really changed my life.

Crew Man:

It's been a while since you've done collages, I'm guessing.

Markita Worthy:

Yes.

Crew Man:

Yeah.

[laughter]

Markita Worthy:

A long time ago, I was in foster care and being in a shelter, it was difficult to keep switching from different places. It's nothing like that I have now into my new apartment. My apartment is peaceful. They have space where you can be free. 

Crew Man:

Alright, nice. Yay.

George Jenkins:

YouthBuild Philadelphia, we're a vocational program that gives students a second chance and a second opportunity. Without YouthBuild Philadelphia, the lives of students would be totally different, because you have to remember we have a 30-year history. So where would all those 5,000 students be without YouthBuild Philadelphia? On the street, without a trade, not having any community service connections, not building themselves up. So YouthBuild is a beautiful space that gives students an opportunity to learn, grow, and be productive citizens when they graduate.

Cindy Hamilton:

We work with dynamic project teams made up of visionary developers, creative architects, and dedicated civil servants. And we all come together to find a point of compromise to make these projects happen.

Thomas Queenan:

If these walls could talk, they would say, "I matter."

Cindy Hamilton:

They would say, "Eclectic."

Betty Smith:

They would say, "Wow."

George Jenkins:

They would say, "Evolution."

Markita Worthy:

If these walls can talk, it would say "I'm strong."

Narrator:

J.P. Morgan Community Development Banking understands that the buildings we invest in are more than just four walls. They are you. They are us. They are Philadelphia.

END

Philadelphia’s legacy spans centuries, from America’s founding to its position today as the country’s sixth-largest city.1 But despite its vibrancy, more than one in five Philadelphians lives below the poverty line2—a disparity requiring strategic investment.

Since 2014, we’ve invested more than $260 million in Philadelphia community development organizations committed to creating a city where everyone can thrive. Our investments include: 

  • $45 million to develop and finance more than 430 affordable rental units
  • $200 million in New Markets Tax Credit investments in schools, grocery stores that improve access to fresh food and other facilities providing essential community services 
  • $16.7 million in Historic Tax Credit equity to preserve historic buildings while transforming them into new housing and a high school

It’s part of JPMorganChase’s broader investment in Philadelphia. Our Community Development Banking and Agency Lending employees work closely with local Philadelphia community development organizations to deliver targeted support where it’s most needed. 

“We’re deeply invested in Philly, and we’re empowering its communities with resources to help build a future as vibrant as its history.”

 


Hear directly from Philadelphia residents whose lives have been transformed through these investments, and the people leading these life-changing projects. 

The walls are talking across the country.

          

JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/commercial-banking/legal-disclaimer for disclosures and disclaimers related to this content.

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